DIRS.INFO The most relevant business & tech news

☆ 'The flattening' at Meta is happening as a stream of longtime executives exit ahead of thousands more layoffs
▼ + stars: | 2023-05-15 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Several high-ranking and tenured Meta employees said in recent weeks they're leaving the company. The head of Meta's Austin office is among the exits. Meta employees are seeing their internal Workplace platform flooded with goodbye posts as they brace for yet another round of layoffs and more changes at the company. Melrose and Shappley were both based out of Meta's office in Austin, with Shappley acting as the head of the Austin office in addition to her other work. Much Meta office space in the UK is now being sublet.

☆ 75% of Medicare beneficiaries worry about affording costs beyond premiums. Here’s how high out-of-pocket costs can go
▼ + stars: | 2023-03-24 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

watch nowOther beneficiaries instead decide to pair Parts A and B with a standalone Part D plan and, often, a Medigap plan, which covers part of the out-of-pocket costs that come with Parts A and B. Basic Medicare has no out-of-pocket limitIf you have only basic Medicare, there is no cap on what you might spend in any given year. "If you can find a plan that has a lower out-of-pocket limit, such as $3,000 or $4,000, that is a benefit to you." "Both Medigap and Medicare Advantage Plans do a good job of this, since most Medigap plans cover the 20% [coinsurance] and Advantage Plans have caps on Parts A and B spending." Part D does come with catastrophic coverage that kicks in once out-of-pocket expenses reach $7,400 in a given year, Roberts said.

☆ Two key Medicare enrollment deadlines are approaching. Here's what you should know
▼ + stars: | 2023-03-23 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

If you missed your initial enrollment period, sign up nowYou become eligible for Medicare at age 65, and you get a seven-month window to sign up. This initial enrollment period starts three months before your birthday month and ends three months after it. If you don't qualify for a special enrollment period or an exception, you'd generally have to wait until Medicare's fall annual enrollment period to sign up for a Part D plan. "If there isn't a valid special enrollment period that a broker can help you with, it's still worth a call to 1-800-MEDICARE as they have broader ability to approve unusual special enrollment periods," Roberts said. Also, individuals who use the general enrollment period can sign up for a Medicare supplemental plan, or "Medigap."

☆ Medical debt can be 'a bit of a surprise,' expert says — and 21% who have it owe $5,000 or more
▼ + stars: | 2023-03-22 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Antonio_diaz | Istock | Getty ImagesThe largest bills are mostly owed to hospitalsThe Urban Institute study found that 73% of adults with medical debt owe hospitals at least some of it. Almost two-thirds, or 63%, of adults with past-due medical debt incurred it when they had insurance, the research found. An estimated 100 million adults have medical debtOverall, an estimated 41% of people — or about 100 million adults — face medical debt, ranging from under $500 to $10,000 or more, according to a report from the Kaiser Family Foundation. watch nowNo Surprises Act is reducing unexpected billsOne of the biggest causes of unexpected large medical bills historically was out-of-network providers being involved in your care — often at a hospital — without you realizing it. Some medical debt is dropping off credit reports

☆ 5 key things to know when you create a will and make other end-of-life plans
▼ + stars: | 2023-03-19 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +6 min

Here are five key things to know if you start thinking about how you'd craft an estate plan. A will may not cover all your basesA will is a basic part of an estate plan. Be aware that many 401(k) plans require your current spouse to be the beneficiary unless they legally agree otherwise. watch nowAdditionally, an estate plan should include other end-of-life documents, including a living will. You'll need to revisit your estate plan

☆ Some Equifax settlement checks bounced due to 'clerical error' at failed Signature Bank
▼ + stars: | 2023-03-17 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Some consumers who tried to deposit an Equifax settlement check in recent days got a surprise: It bounced. The checks, a result of a legal settlement over the credit-reporting firm's 2017 data breach, were written against an account at Signature Bank. However, the checks that were returned unpaid are not related to the bank's failure, said Jennifer Keough, CEO of JND Legal Administration, which is handling the Equifax settlement. "What happened here, due to a Signature Bank clerical error, certain checks that should have cleared were rejected by other banks," Keough said. Roughly 18 million consumers were part of the class action lawsuit that led to the settlement, she said.

☆ A Roth IRA can be smart for young adults who 'can't envision' retirement, advisor says. Here’s why
▼ + stars: | 2023-03-17 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

That's typically the age when you can begin to take distributions from various retirement accounts without possibly facing a 10% early-withdrawal tax penalty. However, a Roth account is a bit different. watch nowSun, who is a member of CNBC's Financial Advisor Council, views a Roth IRA as a dual-purpose account because it allows the investor to have an emergency fund, as well. "They can use the Roth IRA to save for retirement, but also in case of emergency, they could take the money out," she said. "And I'd say 99% of my clients have never needed to take from their Roth IRA … they take a lot of pride in having it."

☆ Medicare beneficiaries could pay less for 27 drugs covered under Part B starting next month
▼ + stars: | 2023-03-15 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Some Medicare beneficiaries will begin paying less next month for 27 prescription drugs whose prices have increased at a rate that outpaces inflation, government officials announced Wednesday. Depending on their individual coverage, beneficiaries could save between $2 and $390 per average dose for these drugs starting April 1, according to the Centers for Medicare & Medicaid Services. "Some of these drugs are life-saving for various conditions and situations like organ transplants," said Elizabeth Gavino, founder of Lewin & Gavino and an independent broker and general agent for Medicare plans. Beneficiaries who typically pay 20% coinsurance under Part B will see their share decline based on a lower inflation-adjusted price for the drugs on this list. And, the list of drugs impacted by this coinsurance adjustment may change quarterly.

☆ How to factor your health into your financial planning, according to a doctor-turned-advisor
▼ + stars: | 2023-03-14 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

"A healthy person needs a totally different [financial] plan from someone who has health issues." This document outlines the health care you want and don't want if you become unable to communicate those desires yourself. You also should have powers of attorney assigned to trusted individuals for health care and, separately, your finances. "Everyone needs those documents, but especially if you have significant health issues," McClanahan said. Your use of health care should be considered

☆ After SVB and Signature failures, what small businesses should look for when choosing a bank
▼ + stars: | 2023-03-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. The same holds true for customers of Signature Bank, which was shut down by regulators Sunday. Yet they now need to find another place to keep their money — and they and other small firms may fear a similar calamity elsewhere. For starters, the message is that when a bank fails, customer deposits will be covered for an unlimited amount, Boneparth said. FDIC coverage may be enough for some firmsAdditionally, for some small businesses, the FDIC coverage at their bank should be sufficient.

☆ 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
▼ + stars: | 2023-03-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. On average, new autos are priced 8.8% above the manufacturer's suggested retail price, or MSRP, according to new research from iSeeCars.com. The biggest premiums paid are for luxury vehiclesAs for which cars are priced the most above MSRP: Most of them are luxury models, according to the iSeeCars study. Coming in first for the highest premium is the Genesis GV70, whose average price of $56,476 is 27.5% above an MSRP of $44,299. For instance, the Chevrolet Silverado 1500 comes with an average price of $50,116, which is 1.9% below an MSRP of $51,103.

☆ Retirement security is up for single women, down for their married counterparts, study shows
▼ + stars: | 2023-03-08 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Willie B. Thomas/Hinterhouse Productions | Getty ImagesFor married women, it's a different storyHowever, part of the increased parity in retirement security is due to a decline in such security among married women, Quinby said. That's tied to the stagnating fortunes of men married to women, with the Great Recession hitting them harder than their female counterparts, the researchers say. For those who were in their prime working years, high unemployment and slow wage growth affected their ability to save for retirement. For single women, it has jumped about 28% to $290,000 from $227,000. At the same time, retirement security overall peaked for "war babies" (those born in 1942-1947), Quinby said.

☆ Don't miss these approaching deadlines if you have a health care flexible spending account
▼ + stars: | 2023-03-03 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

The most common deadline for this is March 31, she said, although some companies may give you six or 10 months. Some offer a grace period or carryover amountMeanwhile, some employers also provide a grace period to spend any remaining 2022 FSA money — meaning qualifying 2023 health care expenses also can be applied against last year's balance. "You can think of it as a two and half-month extension of your 2022 plan," Myers said. For those with a grace period, that share is 37%. Check with your employer about its FSA rulesIt's common for workers to not know what their employer's FSA rules are.

☆ Most Medicare Advantage users are happy with their plan. What to do if you're not
▼ + stars: | 2023-03-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

momcilog | E+ | Getty ImagesFor the most part, Medicare beneficiaries in Advantage Plans are happy with their coverage, a new study suggests. However, if you're among those who are not thrilled about your 2023 Advantage Plan, you can do something about it. Or, they can drop the one they have altogether in favor of basic Medicare (Part A hospital coverage and Part B outpatient care coverage). Additionally, if you drop your Advantage Plan, don't assume that you'll be able to get a so-called Medigap policy, which many beneficiaries pair with basic Medicare. This means that once you move to a different Advantage Plan or drop it for basic Medicare, the change is generally locked in for the year.

☆ Fraud cost consumers $8.8 billion last year, Federal Trade Commission says. That's up 44% from 2021
▼ + stars: | 2023-03-01 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Scammers are making more money per episode of fraud, new government data suggests. While the number of fraud reports recorded through the Federal Trade Commission's database fell to 2.4 million in 2022 from 2.9 million, the aggregate loss from those instances reached nearly $8.8 billion. That's up 44% from the $6.1 billion reported in 2021 to the FTC. Investment scams cost the most — more than $3.8 billion — compared with other categories, and more than double the $1.8 billion reported in 2021. The second-highest reported loss amount came from imposter scams — the most prevalent form of fraud reported — with losses of $2.6 billion reported, up from $2.4 billion in 2021.

☆ Debt due to another person's fraud can't be discharged in bankruptcy. Neither can these bills
▼ + stars: | 2023-02-28 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

That includes $11.9 trillion in mortgages, $1.6 trillion in student loans, another $1.6 trillion in car loans and more than $990 billion in credit card debt. Some debts cannot be wiped out in bankruptcyFirst, while most forms of consumer debt — credit card debt, personal loans, medical debt, mortgages and auto loans — are generally fair game for either eliminating or negotiating a lower payback amount in bankruptcy, that's not true for student loan debt. Same goes for cash advances above $1,100 from a single creditor in the 70 days ahead of filing bankruptcy. Both Chapters 7 and 13 stop collection activity like calls from creditors or debt collectors, wage garnishments and, potentially, lawsuits from creditors. This approach can quickly erase certain forms of unsecured debt, including from credit cards, medical bills and personal loans.

☆ The mortgage rate you get depends partly on your credit score. Here's what to expect
▼ + stars: | 2023-02-25 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

Yet the interest rate that any particular buyer is able to qualify for depends at least partly on their credit score — meaning you have some control over whether you're able to get the best available rate, experts say. "The score impacts practically everything: loan approval, interest rate, monthly mortgage insurance premiums … and ultimately their payment," said Al Bingham, a credit expert and mortgage loan officer with Momentum Loans. The higher your score, the lower the interest rate you'll be charged. For illustration only: On a $300,000, fixed-rate 30-year mortgage, the average rate is 6.41% (as of Thursday) if your credit score is in the 760-to-850 range, according to FICO. "Improving your credit score really comes down to the fundamentals," said Ted Rossman, senior industry analyst for Bankrate.

☆ Cars leased in 2020 are worth an average $4,000 more than expected. These models have fared the best
▼ + stars: | 2023-02-24 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Newsday Llc | Newsday | Getty Images3.3 million cars were leased in 2020An estimated 3.3 million leases were originated in 2020, according to Edmunds. "February 2023 trade-in equity is still more than double the pre-pandemic level," said Thomas King, president of the data and analytics division at J.D. Leased models that have the most extra valueAmong cars leased in 2020, the Mercedes-Benz GLS-Class has the highest dollar difference between current trade-in value ($62,257) and its originally estimated residual value ($50,942). The Toyota Sienna has a trade-in value ($30,207) that's $8,741 (or 41%) higher than the $21,465 residual value. If you want to try capitalizing on the positive equity as a trade-in or for cash, start by finding what your vehicle is worth.

☆ 1 in 6 retirees are mulling a return to work. What to consider before 'unretiring'
▼ + stars: | 2023-02-22 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Mixetto | E+ | Getty ImagesIf you don't need the income, consider a low-stress jobIf your reasons for considering work are nonfinancial, you're not alone. "Boredom is a huge problem," said CFP David Mendels, director of planning at Creative Financial Concepts in New York. watch nowIf you're seeking work for fulfillment, it's worth considering a job that is low-stress and provides some flexibility, Bunio said. Then, when you reach full retirement age, the money comes back to you in the form of a permanently higher monthly check. At that point, you also can earn as much as you want from working without it affecting your Social Security benefits.

☆ Average 401(k) balances dropped 20% in 2022 — but few investors flinched, Vanguard research shows
▼ + stars: | 2023-02-17 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

There's no question 2022 was a rough year for investors. With record-high inflation, economic uncertainty and aggressive interest rate hikes from the Federal Reserve to combat rising prices, stocks took a beating. The median balance — half were above, half below — was $27,376 at the end of the year, a 23% decrease. At the same time, though, 39% of participants' deferral rate — the portion of their paycheck directed to their 401(k) account — climbed higher, compared with 9% of investors who decreased their contributions. While many initiated the increase on their own, more than half of the boosts came from the plan's yearly automatic escalation.

☆ Medicare expenses in retirement could top $383,000 for a couple with high drug costs, study finds
▼ + stars: | 2023-02-16 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

"You don't want to be shocked when you get to retirement and find this out, or discover that Medicare doesn't cover everything," Fronstin said. Representing an extreme case, a couple with high prescription drug expenses would need to have saved $383,000 to have a 90% chance of having enough to cover their health-care costs. Advantage Plan coverageThe second coverage scenario analyzed in the study involves a Medicare Advantage Plan, which delivers Parts A and B, and typically Part D, as well extras like dental and vision. Of Medicare's 64.5 million beneficiaries, 29.1 million are enrolled in Advantage Plans and that number is expected to continue growing. While many Advantage Plans have no premium, they do have their own deductibles, copays or coinsurance and out-of-pocket maximums that vary from plan to plan.

☆ Elder financial fraud is a $3 billion-a-year problem. This bill in Congress aims to help prevent it
▼ + stars: | 2023-02-15 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Seb_ra | Istock | Getty ImagesA bill that's pending in the Senate aims to battle a persistent danger to older adults and other vulnerable individuals: financial exploitation. The bill would "provide folks on the front line with the tools necessary to help prevent exploitation," Jennings said. Called the Financial Exploitation Prevention Act of 2023 and sponsored by Rep. Ann Wagner, R-Mo., the bill cleared the House last month in a unanimous bipartisan vote. watch nowA nearly identical version of the bill that cleared the House in 2021 ended up languishing in the Senate. Older adults with cognitive challenges are the most vulnerable to exploitation and may have up to twice as much stolen than those without those issues.

☆ Auto insurance is up by more than 15% this year in some states. Here's how to keep your premium down
▼ + stars: | 2023-02-07 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Miniseries | E+ | Getty ImagesAs with many line items in your household budget, your auto insurance probably costs more this year than in 2022. While auto insurance tends to eat up a small share of a person's income — about 3% for the average person, according to the Bankrate study — you may be able to reduce it even further. "If you're working from home now, I'd definitely let your insurance company know you're not commuting to work," said Brian Moody, executive editor of Kelley Blue Book. If you were to increase your deductible to $500 from $250, it could reduce your coverage cost by 15% to 30%, Friedlander said. "Auto insurance is extremely competitive and companies want your business to grow their market share," Friedlander said.

☆ Auto loan delinquencies are rising. Here's what to do if you're struggling with payments
▼ + stars: | 2023-02-04 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Fotostorm | E+ | Getty ImagesFor a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. High prices, interest rates have led to bigger paymentsLoan delinquencies can harm your credit scoreWhile the auto loan delinquency rate is edging higher, the default rate is not, according to Cox. "If you're 30 days late, it impacts your credit score," said Brian Moody, executive editor of Kelley Blue Book. What to do if you're struggling with auto loan billsFor car owners who are pretty sure they're heading toward delinquency, it's important to try preventing the problem from snowballing. If you're struggling to keep up because you don't budget well, that's at least potentially fixable, experts say.

☆ Before you enroll in Medicare, what to know about new rules that eliminate coverage gaps
▼ + stars: | 2023-02-03 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Shapecharge | E+ | Getty ImagesSignup rules for Medicare can be trickyMedicare's enrollment rules can be confusing. watch nowInitial enrollment period gap is eliminatedYour initial enrollment period starts three months before your 65th birthday and ends three months after it (seven months total). In the past, some beneficiaries waited up to three months for coverage to take effect. If you enroll before the month you turn 65, coverage starts the first of your birthday month (that hasn't changed). Additionally, beneficiaries who qualify for the special enrollment period will not face Part B late enrollment penalties.

Search resuls for: "Sarah O'Brien"

25 mentions found