MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES
PRESENTED BY WESTSHORE FINANCIAL SERVICES – JUNE 2019

QUOTE OF THE MONTH

“Each day is the scholar of yesterday.”

PUBLILIUS SYRUS

CAN You STAY ON A COMPANY HEALTH PLAN AFTER AGE 65?

Generally, Medicare is available for people age 65 or older; this is well-known. What is less well-known is the fact that some companies can legally cancel group health insurance for a worker reaching this milestone. Baby boomers who aspire to keep working into their mid-sixties may want to take note of this.

The key factor here is the size of the workplace. A business with fewer than 20 employees can either choose to stop group health coverage for a worker at age 65, or let the employee stay on the plan with the recognition that his or her Medicare benefits will take precedence over the group coverage. When a company has 20 or more employees, it has a legal responsibility to offer the same group health insurance to all of its workers, regardless of how old or young they are. That said, the employer may require an employee to work a certain number of hours per week to maintain his or her group health benefits; if the employee cannot meet that criterion, then eligibility for group health coverage may be lost.1

Plan for smooth passage for your pets

Different air carriers have different policies regarding traveling with pets. The same goes for cruise lines, bed and breakfast inns, and hotels; guidelines can vary widely. Research the policy of the specific airline, cruise line, inn, or resort before you leave home, to avoid surprises.

Source: AlaskaAirlines.com

BABY BOOMER TREND: SCALING BACK ON SWEETS

Roughly half of baby boomers are cutting down on their sugar consumption, according to the findings of a new white paper from Innova Market Insights (IMI), a food and beverage industry research firm. Innova reports that about 40% of Americans born during 1946-64 say they are reducing the amount of sweet snacks they eat. This dietary shift is not exclusive to baby boomers. In 2017, per-capita consumption of sugar and caloric sweeteners fell for the third straight year in the U.S.

The Food and Drug Administration notes that sugar accounts for about 13% of daily caloric intake in this country, so lessening the amount consumed per day is only wise given sugar’s link to diabetes and its association with weight gain and obesity. As IMI notes, boomers go lightly on ice cream, desserts, candy bars, and chocolate compared with other age groups, but consume more bakery treats, breakfast cereals, and yogurt, all of which can contain sizable levels of sugar. Manufacturers are taking notice and rolling out low-sugar yogurts, cereals, and baked goods in response to changing diets and changing times.2

DID YOU KNOW?

There is a court above the nation’s highest court

On the top (fifth) floor of the Supreme Court Building in Washington, D.C., there is a basketball court. Originally, it was storage space. During the 1940s, it was remodeled into a gym, then eventually used for hoops. Today, it boasts hardwood floors and plexiglass backboards, and a sign barring games while the Supreme Court is in session downstairs.3

ON THE BRIGHT SIDE

In its 2019 How America Saves study, investment manager Vanguard notes that the average workplace retirement plan account grew by about 4% in 2018, even with the S&P 500 having a negative year. Increased participant contributions were a big factor.4

BRAIN TEASER

What is the significance of the following: The year is 1978, thirty-four minutes past noon on May 6th?

Westshore Financial Services may be reached at 616 392-1222 or archie@westshorefs.com www.westshorefs.com

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Westshore Financial Services are not affiliated.The information in this email is confidential and is intended solely for the addressee. If you are not the intended addressee and have received this email in error, please reply to the sender to inform them of this fact. We cannot accept trade orders through email. Important letters, email, or fax messages should be confirmed by calling (616) 392-1222. This email service may not be monitored every day, or after normal business hours. This message distributed via use of the MarketingPro system.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.

CITATIONS.

1 – nerdwallet.com/blog/investing/need-know-working-retirement [6/4/19]
2 – fooddive.com/news/half-of-baby-boomers-are-limiting-sugar-consumption-study-finds/555495/ [5/30/19]
3 – si.com/nba/2018/07/25/supreme-court-building-basketball-court [7/25/18]
4 – cnbc.com/2019/06/12/americas-retirement-accounts-are-growing-but-not-fast-enough.html [6/12/19]