Tag: health insurance california

What is an Irrevocable Trust?

A trust is an estate planning tool that allows a person to control their assets during their lifetime and make provisions for incapacity and death. Many trusts are revocable, however, irrevocable trusts can be an incredibly useful way to plan for your future.

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One thing you should know about irrevocable trusts is that, unlike revocable or living trusts, irrevocable trusts cannot be changed or amended. They are set in stone.

A second thing that you should know about irrevocable trusts is that they have significant advantages and unique disadvantages.

Irrevocable trusts are often used as a person advances in age. Once they know that their circumstances are unlikely to change, we sometimes recommend the use of an irrevocable trust

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Glitches in Japan’s unpopular MyNumber digital ID cards draw a flood of complaints

TOKYO (AP) — The minister charged with an overhaul of Japan’s digitized system to assign a number to everyone living in the country has apologized, as doctors protested glitches with health insurance and local governments begged Thursday for clarity on how to handle the problems.

The MyNumber, or “MaiNa” for short, the system has clearly gone afoul.

The government has ordered a total rechecking of MyNumber data, one by one, “mechanically,” as the digital agency put it. The goal is to complete it by the fall, which could be anytime from September to November.

Local governments have to deal with much of the checking work. Officials have met with Digital Minister Taro Kono demanding help. Costs for the review have not been announced, but are expected to total trillions of yen (tens of billions of dollars).

Under MyNumber, launched in 2016, people get a card with a photo and embedded

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Ottawa resumes long-running battle over prescription drug prices

Industries affected by Ottawa’s long-delayed drug price reform are hoping the turmoil will end soon as a parliamentary committee continues its investigation this week into the chaos behind the scenes.

The Liberal government announced changes to federal rules on drug pricing in 2017 to try to push prices lower. But no new rules have come into force because of pressure from the pharmaceutical industry and a series of court challenges.

The latest attempt was quashed when Health Minister Jean-Yves Duclos wrote to the federal regulator – the Patented Medicines Prices Review Board – in November asking it to indefinitely halt new rules because of industry concerns, and a board member resigned in protest in February.

The House of Commons health committee began hearings last Thursday to probe the matter and heard from Mr. Duclos. The board member who resigned – health law professor Matthew Herder – will testify Tuesday, along

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Medicare Open Enrollment Ends Soon. Do You Have to Join if You’re 65?

Medicare is a federal health insurance program designed for senior Americans 65 years old or older. The enrollment period for the program started at the beginning of 2023, but the deadline is quickly approaching — March 31.

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During this period, anyone who hasn’t previously enrolled in Medicare or a Medicare Advantage plan can join one or the other. However, if you have work-based health insurance and/or are applicable for certain conditions, you may choose not to enroll.

Learn more about how Medicare works, what your options are and what penalties you could face for late enrollment after 65. Plus, find out about the new Medicare premium and deductible prices for 2023 and why the Inflation Reduction Act makes Medicare more powerful.

How does the Medicare program work?

The Original Medicare program consisted of two main parts — Part A for hospital insurance and Part B for general medical insurance

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What Happens When You Don’t Fund Your Trust?

After you work with your estate planning attorney to draft a carefully tailored estate plan, it is usually your responsibility to “fund” the trust.

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What does funding the trust mean?

Funding the trust is simply transferring assets into your trust.

If you have a trust, you will want to put your assets into the trust, by retitling bank accounts, re-designating beneficiaries of life insurance, etc. We walk our clients through the process, but we usually recommend that the clients make the transfers themselves.

If clients fail to make the transfers or fail to title them correctly, the assets will not be a part of the trust.

This means that the assets outside of the trust will still need to go

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Nearly half of US gig workers report difficulty accessing health insurance, the study finds

stylized computer screen that says Health Insurance (Photo: Shutterstock)

Freelance work has a negative impact on the ability of nearly half of US gig workers to find access to health insurance. In addition, many are stressed and frustrated by the lack of a social safety net, according to a study by Legal & General Group, a financial services company in the United Kingdom.

“The pandemic has made it abundantly clear that we can’t have economic health without physical health,” said Sir Nigel Wilson, the company’s CEO. “Health care coverage is considered a given in the most wealthy, industrialized nations. American gig workers expressing insecurity over their coverage acts as a call to action for companies to tackle this deeply embedded divide. The private sector has the collective know-how and financial wherewithal to develop creative leveling-up solutions that make both social and fiscal sense.”

Among the other findings:

  • Twenty-three percent of gig workers have no health insurance.
  • Sixty-nine
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