Participants in 401(k) and 403(b) plans may contribute up to $17,000 in 2012, and $22,500 if age 50 or older. Some 401(k) plans may offer ROTH contributions for plan participants as an alternative to regular tax deductible monies.

Recently enacted legislation sets the estate tax exemption at $5,120,000 per individual, but this provision is only set for 2012, and will need to be re-addressed sometime prior to 2013.

If you’ve owned a life insurance policy for more than 5 years, there’s a 50/50 chance the originally issuing company doesn’t exist anymore. Mergers and acquisitions seem to be a daily occurrence in corporate America, and financial services firms are among the most active. The most common question: How does this affect my coverage? Contractually, there are no differences. Life insurance policies are legally binding contracts, and the acquiring firm must abide by its terms. What may be affected are specific company guidelines; the ability to make logistical changes, i.e. reducing face amounts, conversion options, etc.

For 2012 the new Part A deductible is $1156 per benefit period; Part A coinsurance for hospital (days 61-90) is $289 per day; lifetime reserve coinsurance (days 91-150) is $589 per day; skilled nursing facility coinsurance (days 21-100) is $144.50 per day. Medicare Part B annual deductible increases to $140.00.  Based on income and filing status, CMS sets a higher Medicare Part B premium for higher income individuals and couples. 

Medicare Part "D" programs are available which provide prescription benefits to those covered by Medicare. Medicare "supplement" plans are also still available, as well as the Medicare Advantage program.