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21 Financial Events and Trends During 2021

Money Talk

Below is a written summary of these financial milestones and their impact on family finances. Insurance- COBRA premium assistance for health insurance was provided under the American Rescue Plan Act and Medicaid enrollment surpassed 80 million. Both Social Security and Medicare face long-term financing shortfalls.

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Can Farmers Ever Afford to Retire?

Money Talk

Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., 401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g., health insurance). barn, silo, riding arena), farm equipment (e.g.,

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Financial Planning Tips for Older Women

Money Talk

I recently taught a 90-minute personal finance class for women age 50+. Retirement Spending - Expenses likely to increase in later life include medical/dental expenses, health insurance premiums (e.g., Medicare Part B and Medigap policy premiums), travel and entertainment, and philanthropy/gifts.

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How Small Businesses Can Develop a Financial Wellness Strategy

Best Money Moves

Some benefits, such as health insurance, workers’ comp and social security are required by law. According to a Pew Research Center study, in 2021, 43% of workers who quit their jobs left due to lack of benefits flexibility, including poor health insurance and mediocre paid time off.

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Building Understanding Ahead of Open Enrollment Across Generations

PeopleStrategy

What Each Generation Typically Looks For Baby Boomers (born 1946-1964) are approaching retirement age, so their benefit preferences may focus more on retirement plans, health coverage, and financial security. Customizable Health Plans: Provide a range of health insurance plans with different coverage levels and costs.

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Investing in employee mental health benefits

Higginbotham

Mental health can also impact productivity: a literature review of 38 studies found clear evidence that poor mental health, particularly due to depression and anxiety, is associated with lost productivity, which can stem from absenteeism and presenteeism. By supporting mental health, employers may be able to contain costs.

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Can Employers Help Employees Save (or Save More)?

AssuredPartners

Despite layoffs and salary reductions, 67% of Generation Z workers have been saving through their employer-sponsored 401(k) or similar retirement plans. If a plan is not currently offered, take advantage of the tax credit available for starting a retirement plan or joining a multiple employer plan (MEP) or pooled employer plan (PEP).

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