Financial News Roundup: Retirement Accounts Boom, Health Policy More Inclusive
Credit Articles March 20th. 2011, 7:15am
Today’s top news headlines feature advice to consumers about prioritizing their financial goals and new information about the healthcare reform’s pre-existing conditions provision. Plus, find out how Americans’ 401(k) accounts are faring in a troubled market.
Americans Encouraged to Prioritize Their Finances The New York Times Industry experts are urging Americans to place equal importance on all of their financial goals, rather than assigning more significance to the most urgent needs at hand. Professionals say the longer Americans put off long-term goals, such as estate planning and retirement, the less control they may have over their futures when a financial crisis eventually hits.
Americans With Pre-Existing Conditions Gain More Access to Health Insurance The New York Times The new healthcare reform laws may make it easier for individuals with a pre-existing medical condition to attain health coverage, removing a financial roadblock for millions of Americans forced to pay out-of-pocket for expensive hospital visits and procedures. Individuals now have the option to apply for federal and state pre-existing insurance plans, which are open to all Americans with a spotty medical history. While a number of eligibility criteria exist, premiums for these programs are low and enrollment has steadily increased since January 2011.
401(k) Accounts Prosper, New Data Shows The Associated Press Significant gains in the stock market have led to good news for adults who saw their 401(k) retirement accounts plummet during the recession: Nine out of 10 accounts have returned to pre-recession levels. Americans are still contributing less to their retirement accounts post-recession, but individuals who rode out the economic downturn have seen their balances reach or exceed those seen in 2007.
Chase Eliminates Debit Card Rewards Program Credit.com Chase customers who carry the issuer’s debit card will see their rewards program dropped this July as the company explores ways to remain profitable amid new restrictions to debit card fees. April 19, 2011, will be the final day existing customers will earn debit card rewards.
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