Pre-Existing Conditions Are Under Threat

Ever heard of job lock? The term refers to workers staying in jobs they don’t like because they don’t want to lose the benefits — primarily, the health insurance. The individual health insurance market used to be a cruel place for people with pre-existing conditions like diabetes and cancer, and to avoid it older adults in particular would often remain in jobs they’d rather leave until they became eligible for Medicare. That changed in 2014, with the full implementation of the Affordable Care Act. Now, everyone is guaranteed individual coverage regardless of their medical conditions, at the same cost as perfectly healthy people pay. But protections for pre-existing conditions have come under attack. Learn how the outcome of the Nov. 3 election, and a Supreme Court hearing the following week, could affect your future ability to buy a policy.

This week in our Retire with Money Facebook group, members talked about a prominent money management firm (which shall remain nameless). Some had direct experience with them, while others had come to their opinions through articles. One comment stood out to me: “Ask yourself — if they are so good at what they do, why do they have to saturate the airwaves and print media with their advertisements?” I’ve always felt the same way about free lunch seminars: if the pitch — whether it’s a timeshare, a variable annuity, or a load mutual fund — were such a great investment, would firms need to go to such lengths to sell it? Don’t get me wrong: there’s nothing wrong with advertising. It’s just that, you’ll often find that the best products aren’t the ones that are the most aggressively pushed.

Families are changing their estate plans over political disagreements. BLOOMBERG WEALTH

The pandemic has focused attention on for-profit homes’ business models. NPR

Some borrowers go into foreclosure and lose their homes over small debts. NEXT AVENUE

These are factors to consider if you inherit a house, a retirement account, or other assets. CNBC