Monday, December 12, 2011

Investing in Our State's 529 College Savings Program

Total cost of four college for my two children is estimated to be over $550,000 in aggregate. We are saving for this daunting goal primarily through the New York state-sponsored college savings plan. Read more here...

Disclaimer: The author is a former investment professional who is currently not employed in the financial services industry, as such she does not maintain her securities licenses. 529 accounts are not insured by FDIC and may lose value. This article is personal opinion and should not be considered a recommendation or solicitation.

Sunday, December 11, 2011

Rising Health Insurance Premium Costs Are Outpacing Income Growth

The cost of health insurance grew five times the rate of income growth from 2003-2010. Health insurance expenses are more than 20% of income on average. Will ObamaCare slow down the increase in healthcare costs? Read more here.

Crafts, Games, and Activities for Kids During Winter Break

Its almost here. The holidays are coming, so is the dreaded winter break and cabin fever that comes along with it. Here are a few crafts, games and activities to keep the kids engaged and parents sane during Christmas break, in New York and around the country. Read more here!

Early Parenting Mistakes and How to Overcome Them

Like most first time mothers, I thought I prepared myself for parenting by reading books and taking classes. Yet, I felt totally unprepared when my son was born. Lessons in parenting were learned along the way but I did make some early parenting mistakes. When I gave birth again, my real-life experience of being a mom made me feel prepared and much less prone to making mistakes. Today, both my children are happy and healthy kids. Read more here.

Wednesday, November 30, 2011

Open Enrollment -- Two Articles

Image courtesy: sxc.hu
Two articles discussing new laws affecting benefits elections. The first focuses on 2012, while the second is a two year plan.



My Open Enrollment Action Plan
Like many other employees, my husband's benefit elections enter the annual open enrollment period in November. Here are some changes I am making to 401(k) contributions, medical, dental and vision insurance, FSA withholding, and commuter expenses for 2012 because of new laws and a new family member.


Maximizing My FSA Benefit and Lowering Taxes
President Obama's health care reform has made two significant changes to FSA. Since 2011, OTC medications require a doctor's prescription for reimbursement. In addition, for 2013, the maximum FSA contribution is reduced to $2,500. Health care expenses are tough to budget, more so if you are budgeting two years out. However, by front loading some of the known spending in 2012 and getting a master prescription list, I plan to partially offset the negative impact of FSA reform. 

Wednesday, November 23, 2011

Happy Thanksgiving! A Couple of Articles on Being Charitable


Americans are a generous bunch--we cumulatively donated $212 billion (73% of total giving) in 2010 to over 1.28 million charities in the United States.  As we get ready to open our hearts and our wallets this holiday season, here are a couple of articles about charitable investments, and volunteering.





My Investment Approach Toward Charitable Giving
I use a disciplined investment approach toward charitable giving. This ensures the intended recipients get the maximum bang out of my buck and I see savings on our tax return.

Working for Free Worked for Me
Volunteering my time and working for free brings me a unique sense of fulfillment. However unpaid work has also provided tangible benefits that led to higher income potential down the road.

Friday, October 14, 2011

Where to Get a Flu Shot for Cheap (or Free)!

Flu Shot--Free or Cheap Flu Shots in Your Neighborhood


The 2012 winter flu season is being called the worst in many years. The CDC is expected to provide an update on the epidemic on Friday. Shortages are periodically being reported across the country.

 Every year in the fall, I call around my local pharmacies to see if the flu shot is in stock. I also ask about prices and if they accept insurance (in which case they would be free). Last year, I found a local family pharmacy to be the cheapest, at $25 and an urgent care facility, to be the most expensive, at $40.

Most chain store pharmacies like Walgreens, CVS, Rite Aid, Duane Reade etc., supermarket pharmacies like Shop Rite, A&P and big box retailers like Wal Mart and Target offer flu shots. The price range for flu shots at most appear stores to be $28-40.
Many local hospitals and senior centers also offer free flu shots starting in October. Such information is usually available on the City Hall website. Large employers often offer flu shots as well, although it is typically offered on only one day.

You can always go to your general physician and get a flu shot. Your charge will most likely be your co-pay ($5-30), unless you time it with your free annual well-visit. As long as you do not ask the doctor questions regarding other illnesses (which may cause they to bill as an office visit versus a well visit), most pediatric patients do not have to pay a co-pay for well-visits, like a flu shot.

If you have insurance or Medicare Part B, your flu shot may actually be free! Wal Mart has a list of approved insurances. For example, if you have Blue Cross, your out of pocket expense will be zero. Walgreens also accepts several insurance plans, including Cigna. However, many CVS locations use a third party provider (Minute Clinic), which is usually considered out of network by insurances, and therefore you will be charged.

Remember, if the provider hands you a reimbursement form, chances are that the amount to be reimbursed will be lower than your out of network deductible, in which case you will be responsible for the entire amount.

Information on the seasonal flu vaccine and mist is available at the CDC website.