It’s OK to Stop Saving Money If You’re Doing One of These 6 Things

At 7, your goal was to save enough money so you could buy that new toy all the kids were raving about.

At 18, you just wanted to scrape up enough to stock up on ramen for the week.

At 23, your cohorts started talking about emergency funds, and you thought, “OK, I probably need a little nest egg of my own, too.”

At 27, you started counting down to retirement — only about 40 years away… Better start saving now.

And you’re still saving.

You’ve basically been saving money your entire life. Is there ever a time you’ll be able to stop saving money? Perhaps even — gasp — spend it?

Short answer: Yes!

6 Times It’s OK to Stop Saving Your Money

We’ll forever encourage people to save their pennies, but, depending on your financial situation, sometimes it’s OK to stop saving, even just for a little while. Come on; you’ve earned it, right?

Breathe a sigh of relief. It’s OK to stop saving money if you’re…

1. Investing in Causes You Care About

Hand of person holding light bulb

Once you have a nice rainy day fund saved, investing can be a great way to grow your money. In a way, you’re still saving money — but know risk is always associated with investing.

You’ll want to make sure you’re using your hard-saved money to support companies you actually believe in — their morals and values. You probably wouldn’t want to invest in a company that’s destroying our oceans or cheating the system.

Impact investing is a simple fix. It adds a new layer of transparency to investing. Take Swell Investing, an SEC-registered investment adviser committed to supporting sustainable companies.

Its Impact 400 portfolio features companies whose products and services align with the United Nations Sustainable Development Goals. It considers everything from gender equality to ending poverty to clean energy.

You can start with just $ 50 and invest in this or other portfolios committed to clean water, zero waste, renewable energy or disease eradication, to name a few. Plus, you’ll get a $ 50 bonus with the code PENNY after making your initial investment.

Swell doesn’t have any trading fees, price tiers or expense ratios. It charges a 0.75% annual fee — that’s about the cost of one coffee ($ 3.75) per year if you invest $ 500.

Disclosure: We have a financial relationship with Swell Investing LLC and will be compensated if consumers apply for an account and/or fund an account with Swell through links in our content. However, the analysis and opinions expressed here are our own.

2. Signing up for Life Insurance

If you have a dependent or two, you’ll want to think about life insurance. Sure, it’ll cost you a monthly fee, but it’ll help ensure your family will be financially sound if (goodness forbid) anything happens to you.

Plus, finding life insurance doesn’t have to be the complicated, research-intensive experience you might expect. Some newcomers in the industry are updating the old model.

Ethos can get you term life insurance in less than 10 minutes — with no medical exam — for coverage up to $ 1 million. Ethos offers a digital application, and customer service is available if you have questions.

It partners with a major life insurance carrier to quickly offer policies as low as $ 6 a month. It’s helped thousands of folks access term life insurance, including independent contractors who use Uber, Postmates, TaskRabbit and other gig apps.

So even if you have to take $ 6 out of your savings each month, life insurance could be worth it — for that peace of mind.

3. Paying off Your Credit Card Debt

TPH photo editor, Alexa Vincent, in various scenes showing credit card debt, consolidation and bankruptcy on August 14, 2018.

A lot of us are being crushed by credit card interest rates north of 20%. That can make paying off your debt feel like this never-ending cycle — and can even cost you thousands of extra dollars over time.

If you have a nice savings cushion, it could be beneficial to pause your savings for a couple of months and pay off your debt more quickly to alleviate the pain of tacked-on interest.

See if you can make your debt a little more manageable first by consolidating or refinancing with a personal loan.

A good resource is online lending platform Upstart, which can help you find a loan without relying on only your conventional credit score.

Unlike traditional underwriting models that use only the common FICO scoring model, Upstart’s technology looks at factors like your education and employment history to determine your creditworthiness (though it does require a 620 credit score).

It can help you borrow up to $ 50,000, potentially with better terms (e.g. lower interest or lower monthly payments) than traditional lenders. If managing many different bills and credit lines is a hassle, you can also use an Upstart loan to streamline all of your loans into one.

4. Preparing for a Happy Retirement

Because you’re already into saving, you probably have a 401(k). Kudos for that, but is it doing what you need it to?

Chances are, your 401(k) could be doing a lot better. Take control with help from Blooom, an SEC-registered investment advisory firm that can optimize and monitor your 401(k) for you and keep it speeding toward retirement.

It just takes a few minutes to get a free 401(k) analysis that will show you whether your investments are allocated properly and whether you’re losing money paying hidden investment fees. It’ll even tell you just how much more money your account could earn by the time you want to retire.

After that, if you sign up, it’s just $ 10 per month to have Blooom monitor and maximize your 401(k). Bonus: Penny Hoarders get the first month free with the code PNNYHRD.

Think of Blooom like a mechanic constantly fine-tuning your car’s engine so it gives you the best possible performance and gas mileage. Except it’s your 401(k) — and your future.

5. Treating Yourself With a Reward

woman carrying shopping bags

You know how most healthy people talk about the importance of cheat days? To let yourself indulge — just a little. The same goes for personal finance. You can be as budget abiding as you want, but you have to leave a little bit of wiggle room to treat yourself.

If you haven’t gotten a pedicure in at least a decade, escaped city limits for a weekend away from the kids or splurged on a new gadget, then maybe it’s time. But please do so responsibly.

Make sure you’re getting the most bang for your buck with these tools:

  • Ibotta: With Ibotta, you can bank cash back when you make an Amazon purchase, sign up for Hulu, book your next vacation or even order groceries through Shipt. Plus, if you sign up now, you’ll snag a $ 10 bonus when you claim your first cash-back offer.
  • Paribus: This tool gets you money back for your online purchases. If it discovers you’ve purchased something from one of its monitored retailers, it will track the item’s price and help you get a refund when there’s a price drop.
  • When you’re spending money, always, always be sure to keep tabs on your budget to make sure you’re not overspending. If you don’t yet have one, the Empower app is a powerful budgeting tool that can help you figure out how you’re spending your money and develop a budgeting plan to keep you on track.

6. Buying a Home

Perhaps for the past few years, you’ve been saving for a down payment. That’s great! Now, you’re ready to buy your first home.

In those first couple of months of homeownership, though, don’t feel bad if you have to pause your savings. Expect a lot of expenses to pop up: closing costs, real estate agent commission, property taxes, homeowners insurance, last-minute repairs — just to name a few.

Get all of that taken care of as you settle into your new abode. After a few months, once you’re getting back into the swing of things and are coasting along with your monthly mortgage payments, you can start saving again.

Time to Resume…

Sure, depending on your financial health, there are certain life events, investments and money moves you can justify pausing your savings for. But the break can’t last forever — you’ll need to resume your savings at some point.

After all, you never know when you’ll need the savings. That newest and hottest toy of the season could hit the shelves any minute.

Carson Kohler (carson@thepennyhoarder.com) is a staff writer at The Penny Hoarder. She’ll forever be saving money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

The Penny Hoarder

BEST DEAL UPDATE:

Sam's Club Membership Offer

If you’re an Amazon Prime member, you may get to see ‘Aquaman’ early

Aquaman Amazon Prime

The next addition to the DC cinematic universe is set to hit theaters in the US a few days before Christmas, but Amazon Prime members are reportedly going to get a shot at seeing it early.

According to Screen Rant, members of Amazon’s Prime subscription service will be able to attend screenings of Aquaman a week before the US release at participating theaters, including ArcLight, Bow Tie Cinemas, Cinepolis, Regal Cinemas, Showcase Cinemas and Studio Movie Grill. Per Screen Rant, the movie represents DC’s next shot at trying to win the love of fans, even though reaction to DC movies generally pales in comparison to releases from Marvel. Which is why a move like this might be a smart play to excite fans early.

Continue reading…

BGR Top Deals:

  1. The $ 69 device that lets you cook steak perfectly every time is a must-have for every kitchen
  2. Amazon’s big Black Friday sale on the Fire TV Stick and Fire TV Stick 4K starts right now

Trending Right Now:

  1. Everything new coming to Netflix this week, and everything leaving (week of Nov. 18)
  2. A dog changed this man’s life, then he made the most life-affirming Netflix show of 2018
  3. Here’s now NASA said goodbye to the Kepler space telescope

If you’re an Amazon Prime member, you may get to see ‘Aquaman’ early originally appeared on BGR.com on Sun, 18 Nov 2018 at 15:22:19 EDT. Please see our terms for use of feeds.


BGR

BEST DEAL UPDATE:

All Deals on HP, Dell and Lenovo!

Your Money, Your Life: Episode 2 – “Does a Good Salary Mean You’re Financially Secure?”

Episode 2

“Does A Good Salary Mean You’re Financially Secure?”

Learn why your feelings and relationship with money are bigger determinants of your sense of financial security than the numbers on your pay check, with guest Jacquette M. Timmons, President & CEO, Sterling Investment Management.



The new personal finance podcast, Your Money, Your Life is sponsored by Prudential and hosted by Black Enterprise’s own Alfred Edmond Jr. This special series features a lineup of great guests including The Breakfast Club’s Angela Yee; DeForest B. Soaries Jr., founder of the dfree Financial Freedom Movement; Tiffany “The Budgetnista” Aliche; and Jacquette M. Timmons, president & CEO of Sterling Investment Management. The show will cover money topics ranging from how to control your debt to our psychological relationship with our finance. A can’t miss!

 

The post Your Money, Your Life: Episode 2 – “Does a Good Salary Mean You’re Financially Secure?” appeared first on Black Enterprise.

Money | Black Enterprise

FASHION DEAL UPDATE:

Shop select Free People sale and clearance items at Bloomingdales.com!

The NYC ‘I Voted’ Sticker: You’re Wearing It. They Designed It.

Photo Illustration by The Daily Beast

Just like the cartoon stickers awarded to very brave boys and girls who make it through their dentist appointments, those who exercise their constitutional rights get a souvenir from their experience: another sticker!

“Everything is so heavy,” Marie Dagata, who co-designed the sticker all New Yorkers receive after voting, told The Daily Beast. “(The stickers) are a lightness, a form of self-expression for whatever your political stance is.”

On a day that exists to be partisan, the sticker communicates an unadulterated patriotism and old-school levity not usually seen in this vitriolic political era. “I’ve seen the sticker on people of all ages, on pets—I saw a nice one where people were kissing, and they both had my ‘I Voted’ sticker on their cheeks,” Dagata said. “It’s sweet.”

Read more at The Daily Beast.

Got a tip? Send it to The Daily Beast here

The Daily Beast Latest Articles

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

BEST DEAL UPDATE BY AMERICAN CONSULTANTS RX:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Here’s What You Need to Know if You’re Considering a VA Loan

If you’re a veteran or an active-duty member of the military, the idea of owning a home one day might give you warm, fuzzy feelings. Or maybe it’s just the idea of not having to move again.

When that day comes, you’ll find yourself researching mortgages, and you may go straight for the Veterans Affairs (VA) home loan.

VA home loans look attractive: They come with lower interest rates, lower closing costs and no private mortgage insurance (PMI), plus you can put 0% down.

But before you jump right into signing papers, it’s worth taking a closer look to find out if a VA loan is your best option.

What Makes a VA Home Loan Different?

A VA home loan is a type of mortgage that helps service members, veterans and eligible surviving spouses become homeowners. You can’t use a VA loan on an income property or a second home; these loans can only be used for your primary residence.

VA loans are provided by private lenders — banks, mortgage companies, etc. —  and usually backed by the government for up to 25% of the loan if the homeowner defaults.

Because 25% of the loan is guaranteed by the government, banks can lower eligibility requirements and don’t require you to pay private mortgage insurance.

That means veterans with lower credit scores are frequently approved for more mortgage than they would be otherwise.

“[VA loan] lenders tend to approve a higher mortgage-payment-to-income ratio and a higher total-debt-to-income ratio,” said Doug Nordman of The Military Guide.

But perhaps the most appealing feature of a VA loan is that you can put 0% down.

This might look like a deal, especially on a private’s housing allowance, but you’ll pay for it in other ways.

The Hidden Expenses of VA Loans

Before we compare VA loans with other options, let’s look at interest rates vs. APRs, or annual percentage rates. The interest rate is the amount you’ll pay each year to borrow money. The APR includes not just the interest rate, but also charges and fees from the mortgage broker.

VA loans have lower interest rates than conventional loans, but their APRs are higher.

At the time of this writing, one lender was offering a 30-year fixed conventional loan at a 4.62% interest rate with 4.69% APR, and a 30-year fixed VA loan at a 4.5% interest rate with 4.8% APR.

That’s because the VA loan has a funding fee. Instead of paying a set monthly charge for private mortgage insurance (PMI) to the bank, veterans pay a funding fee to the VA that is added at the beginning of the loan and compounds monthly.

The funding fee for regular military is 2.15% when you put 0% down, though it can be lowered by putting a down payment of 5% or more on the house.

For those in the reserves or National Guard, the funding fee is even higher at 2.4%.

It’s easy to look at the numbers with rose-colored glasses because you can afford the monthly payment. But it’s important to look at the big picture when taking on a loan of that size.

When you look at the breakdown of your mortgage, the funding fee will look lower than a PMI payment, but you can get rid of PMI when you reach 20% equity in your home. Unless you pay your funding fee upfront, it stays with you forever.

To put it in perspective: A $ 200,000 home with $ 0 down will have a funding fee of $ 4,300. That $ 4,300 gets put on the principal, which means you’ll be paying interest on it for 30 years. Even if you refinance, that $ 4,300 stays there.

Who Is a VA Loan Good For?

The funding fee doesn’t mean the VA loan is bad — it has lots of features that make it a good choice for many service members and veterans. Interest rates are lower, appraisals are more affordable, origination fees are capped at 1%, and you can qualify at a lower credit score.

But it’s even better if you can get the funding fee waived.

Those eligible for a waiver are:

  • Veterans who receive VA compensation for a service-connected disability.
  • Veterans who would be entitled to receive compensation for a service-connected disability but are receiving retirement or active-duty pay.
  • Surviving spouses of a veteran who died in service or from a service-connected disability.

Over 4 million veterans receive VA disability compensation, so a waiver is actually an option for a lot of Americans.

The bottom line: Don’t rush a decision as big as home ownership.

“Research indicates that nearly half of all veterans move yet again within two years of leaving the military, because their bridge career doesn’t work out,” Nordman said. “They end up putting that ‘forever home’ right back on the market, or — even worse — becoming reluctant long-distance landlords.”

Waiting until you’re location-stable will give you time to build your credit and qualify for the best home loan available.

Jen Smith is a staff writer at The Penny Hoarder. She gives money saving and debt payoff tips on Instagram at @savingwithspunk.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.


The Penny Hoarder

BEST DEAL UPDATE:

Sam's Club Membership Offer

Watch Exclusive ‘Suspiria’ Clip: You’re in a Company Now

Watch Exclusive 'Suspiria' Clip: You're in a Company Now

A swirling tale of darkness, director Guadagnino's Suspiria is set at a dance company in Berlin in 1977. It was a troubling time for the fabled European city and that's reflected fully in the film's dense and brooding atmosphere.

Dakota Johnson stars as Susie Bannion, an ambitious young American dancer who has just been accepted into the world-famous company by artistic director Madame Blanc (Tilda Swinton). In our exclusive clip, Madame Blanc puts Susie through her paces, to…

Read More

Read Comments

Fandango Movie News

MOVIE APP UPDATE:

403(b) vs. 401(k): Here’s What You Need to Know if You’re Choosing Plans

Paper or plastic? Uber or Lyft? 403(b) or 401(k)?

It’s not often that you’re faced with the last choice. But if you’re a teacher, nurse or government employee, you may have been presented with this question before, because tax-exempt organizations can offer a 403(b) retirement plan, in addition to a traditional 401(k) option.

When you select the vehicle that will drive your investments, here are the things you should know about 403(b) and 401(k) plans.

403(b) vs. 401(k): What’s the Same?

Fundamentally, 403(b) and 401(k) plans are the same.

Both retirement plans are tax-deferred, meaning they protect you from paying taxes on contributions now and lower your annual taxable income, and you’ll pay taxes when you withdraw the funds.

The annual contribution limits, withdrawal requirements and rules for taking out a loan are the same as well.

403(b) vs. 401(k): What’s Different?

The differences are nuanced. 401(k) plans can be offered by any employer, while 403(b) plans are offered by tax-exempt organizations, such as nonprofits, religious groups, government organizations and school districts. While these organizations can also offer a 401(k), for-profit businesses don’t have the option of offering 403(b) plans.

The law allows tax-exempt organizations a pass on certain employer requirements, making administrative costs for a 403(b) less expensive. In turn, employer matches and contributions also aren’t as common for 403(b) plans as they are for 401(k)s.

And while annual contribution limits are the same, 403(b) plans have a unique provision called the maximum allowable contribution, aka MAC. It allows employees with at least 15 years of service to an employer to add an extra $ 3,000 to their annual contributions.

If you leave your employer, you’ll face the same rollover provisions for both plans, with one exception: You can roll a 403(b) into a 401(k), but not vice versa.

A 403(b) plan isn’t regulated as closely as a 401(k) plan. In exchange, administrative costs in 401(k) plans can be slightly higher.

  401(k) 403(b)
Eligibility Sponsored by any employer. Sponsored by a tax-exempt employer.
Annual contribution limits
(2018)
$ 18,500 if you’re under 50;
$ 24,500 if you’re 50 or older.
Same as a 401(k), but if you’ve been with your employer for 15 years or more, you can add an extra $ 3,000 to your contribution.
Investments Can contain almost any type of investment. Only contains mutual funds and annuities.
Rollovers Can be rolled over into traditional IRA or new employer-sponsored 401(k). Can be rolled over into traditional IRA or new employer-sponsored 403(b) or 401(k).
Required minimum distributions Withdrawals must begin no later than age 70 ½ Same, except for special allowances on pre-1987 amounts

If Your Employer Offers Both, Which Is Right for You?

If you’re looking to invest early and often, you can’t make a bad decision. But you should take a close look to ensure you’re making the best decision.

Get a list of the investment options and fees for both. While 403(b)s can only be invested in annuities and mutual funds, 401(k) plans have a wider pool of investments, including mutual funds, annuities, bonds, company stock and others.

Both can have very optimal or very suboptimal investments. It’s up to you to make sure the plan you choose is the one with the highest-performing and lowest-fee funds.  

Ultimately, the differences between a 403(b) and a 401(k) are small enough that your choice will likely come down to the options your employer has chosen inside your company’s plan more than the plan itself.

Jen Smith is a staff writer at The Penny Hoarder. She gives money-saving and debt-payoff tips on Instagram at @savingwithspunk.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.


The Penny Hoarder

BEST DEAL UPDATE:

Sam's Club Membership Offer

Could this common reaction reveal whether or not you’re a psychopath?

Right…

How To Spot A Psychopath
How To Spot A Psychopath

There is a lot of information out there about psychopaths and how to work out whether or not you know one. One study revealed how to tell if your workmate is a psychopath, and another suggested that psychopaths most enjoy these two pop songs.

There’s also research that suggests if this is your partners usual coffee order, they could be a psychopath.

Yes, really.

But if you’re unsure of someone’s musical taste, and if your other half doesn’t even drink coffee, how can you tell?

A new study has determined one very simple way to tell if someone is a psychopath. And it’s something most people do pretty regularly.

Can you guess what it is? Yawning.

Research published in Personality and Individual Differences showed that when we see someone else yawning, we tend to find we’ve got one coming on ourselves. Why? Because a mirroring yawn is seen as empathetic and a sign of bonding. We’re not alone, either – lots of social animals behave this way.

However, psychopaths lack empathy, meaning that they’re less likely to yawn back at you.

Brian Rundle, lead researcher, explained: ‘You may yawn, even if you don’t have to. We all know it and always wonder why.

‘I thought, “If it’s true that yawning is related to empathy, I’ll bet that psychopaths yawn a lot less.” So I put it to the test.’

The experiment saw 135 college students take part in a test, answering 156 questions before being shown videos of other people reacting to situations. The clips showed people laughing, yawning, or staying neutral, and the results showed that participants who were less empathetic were unlikely to yawn, even after seeing someone else doing it.

So the next time you yawn, take a quick look and see whether the people around you do the same.

But before you start accusing anyone who doesn’t yawn of being a psychopath, Rundle warns: ‘The take-home lesson is not that if you yawn and someone else doesn’t, the other person is a psychopath.

‘A lot of people didn’t yawn, and we know that we’re not very likely to yawn in response to a stranger we don’t have empathetic connections with.

‘But what we found tells us there is a neurological connection — some overlap — between psychopathy and contagious yawning. This is a good starting point to ask more questions.’

Noted.

The post Could this common reaction reveal whether or not you’re a psychopath? appeared first on Marie Claire.

Marie Claire

BEST DEAL UPDATE:

Style Your Home’s Outdoors with All the Perfect Additions from MacKenzie-Childs! Save on Tables, House Letters & Chairs. Shop Now!

Best places to eat in NYC when you’re single with high standards

Step away from the sad frozen burrito, says chef Anita Lo. Single people deserve delicious meals, too. “This book will help you remember how to take care of yourself,” Lo writes in “Solo: A Modern Cookbook for a Party of One” (Knopf). Throughout, the acclaimed restaurateur applies her message of scrumptious self-sufficiency to dozens of…
Living | New York Post

SPECIAL SHOE DEAL UPDATE:

Hate Erika Nardini? You’re not alone, and she couldn’t care less

Erika Nardini is the most controversial woman in sports media. As the CEO of Barstool Sports, she is the mama bear of a wildly popular comedy and sports Web site that prides itself on aggressively bucking political correctness — with a tone some have called ­misogynistic. Much of that swirls around the site’s founder, Dave…
Media | New York Post

SPECIAL DISCOUNT DEAL:

Your Pharmacist Can Now Tell You If You’re Overpaying for Prescriptions

It just got easier for people to buy prescription drugs at the lowest price available.

On Wednesday, President Donald Trump signed legislation lifting contract clauses that have prevented pharmacists from informing patients they could pay less for prescription drugs by not using insurance, and paying the retail rate instead.

More than two dozen states had already enacted laws aimed at the “gag clauses,” as they’re referred to, according to the National Conference of State Legislatures’ Prescription Drug Resource Center. The clauses were included in contracts between pharmacies and some health insurers and pharmaceutical benefits managers to penalize pharmacists for speaking up.

The law Trump just signed was passed by Congress earlier this year with bipartisan support.

“It’s a matter of what’s fair for the patient,” said Will Edmiston, a pharmacist at Big Country Pharmacy in Abilene, Texas. “That’s what it should be about. Individuals have a right to know if there are cheaper alternatives.”

One word of caution: Just because pharmacists will now be able to give patients more information doesn’t mean they’ll all offer it up. It’s important for consumers to ask questions and advocate for themselves.

Millions of Americans Have Been Overpaying for Prescriptions

The University of Southern California’s Center for Health Policy and Economics found this year that in 23% of the claims it studied, patients overpaid. That’s 2.2 million cases of overpayment.

Another study by researchers at the Center for Health Policy and Economics and the University of Southern California, Los Angeles, found that in the first six months of 2013, Americans with Medicare coverage overpaid a total of $ 135 million, or $ 10.51 each.

Pharmacies collect patients’ copayments and forward them to pharmaceutical benefit managers, who reimburse the pharmacies at a negotiated rate. When a patient overpays, it means the copayment was larger than the negotiated reimbursement rate — sometimes more than the total cost of the drug.

The pharmaceutical benefit manager keeps the difference, and gag clauses in many pharmacists’ contracts prevented them from informing patients, researchers and consumer advocates say. Pharmaceutical benefit managers oversee most prescription drug benefits for insurers, employers and Medicare, according to AARP.

The overpayments contribute to people suffering medically as well as financially, the USC study found.

According to the USC study, Many US patients struggle to afford their out-of-pocket healthcare expenses, and cost-related medication non-adherence is common, leading to higher medical expenditures and poorer health outcomes.”

Susan Jacobson is an editor for The Penny Hoarder. She also writes about health and wellness.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.


The Penny Hoarder

BEST DEAL UPDATE:

Sam's Club Membership Offer

Cardi B and Selena Gomez’s “Taki Taki” music video is here, and you’re gonna need to sit down for this one

Cardi B and Selena Gomez’s “Taki Taki” music video is here, and you’re gonna need to sit down for this one


Cardi B and Selena Gomez’s “Taki Taki” music video is here, and you’re gonna need to sit down for this one

We absolutely live for music collaborations. So when Cardi B took to Instagram in August to tease an upcoming collab with Selena Gomez, we almost lost our minds with excitement.

On August 24th, Cardi posted a behind-the-scenes pic from the set of a new music video. The pic showed four director’s chairs, and the names on the backs of the chairs included Cardi, DJ Snake, rapper Ozuna, and, yep, one for queen Selena Gomez. (Oh, and there was also a tiny chair for Kulture. LOL.)

Selena also took to Instagram to share pics from set.

View this post on Instagram

today was so fun

A post shared by Selena Gomez (@selenagomez) on

She then shared a series of videos on her Instagram Story that showed everyone looking fierce in fiery red.

And now, we officially have the “Taki Taki” music video, and it’s (literal) FIRE.

The sets, the effects, the ensembles. This video is seriously even more red hot than we hoped, and we’re 100% down for this collab.

Thoughts?

The post Cardi B and Selena Gomez’s “Taki Taki” music video is here, and you’re gonna need to sit down for this one appeared first on HelloGiggles.

HelloGiggles

BEST DEAL UPDATE: