Senior citizens may be facing a number of new out-of-pocket expenses for healthcare as Congress struggles with debt limit talks and is debating alterations to the supplemental plans for Medicare. The federal health program, Medicare, is meant to support the elderly and disables, though they are responsible for the payment of certain test costs, hospital deductibles, and visits to the doctor. In order to assist themselves with these additional out-of-pocket expenses, many Medicare beneficiaries purchase Medigap plans. Among the beneficiaries, 34 percent receive their Medigap coverage from their former employers.…
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S&P claims top insurance companies could lose leading ratings
Standard & Poor’s recently announced that the top insurers in the country may lose their leading credit ratings as a result of the debates that have raised the federal debt ceiling. Affected insurance companies could include New York Life Insurance and the Texas-based USAA, as well as the Teachers Insurance & Annuity Association of America, Northwestern Mutual Life Insurance Co., and Knights of Columbus. Standard & Poor’s stated that each of these insurers risk losing their AAA credit ratings. The S&P statement said that the cause is the “significant holdings”…
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