More than two years after the Consumer Financial Protection Bureau found that reverse mortgage ads create a false impression of the financial product, the agency is once again warning older consumers about the dangers of using reverse mortgages. This time, the CFPB is warning against using reverse mortgages to provide income that would allow the individual to delay Social Security benefits, which can increase their future monthly benefits, but decrease their overall, long-term financial outlook. [More]
benefits
Instacart Workers Say They Were Illegally Misclassified As Independent Contractors
By 12.5.16
To say that things have been contentious between Instacart and its hired shoppers and drivers would be a bit of an understatement, following backlash the company received when overhauling — and then again revamping — the way it handles tips. Last week, workers took things to another level, suing the grocery delivery startup claiming it broke state and federal labor laws. [More]
Starbucks Will Give U.S. Front-Line Employees And Managers Raises Of At Least 5% In October
By 7.11.16
If you’ve heard rumblings in the news recently about Starbucks employees complaining that they’re underpaid and not being scheduled for enough hours, the coffee chain wants you to stop worrying: they’re giving hourly employees and managers raises in October, and making unspecified dress code and benefits changes as well as doing something about scheduling issues. [More]
Servicemembers At Failing For-Profit Schools Not Protected By Veterans Affairs
By 8.18.15
When a for-profit college closes its doors, students are often left with hefty student loan tabs and little recourse. Some of those borrowers may be eligible for a discharge of their debts through the Dept. of Education, but others – like the thousands of veterans who used their GI Bill benefits to finance their education – are simply out of luck, often losing their chance to obtain a degree, thanks in part to failures within the Department of Veterans Affairs. [More]
Labor Dept. Tries To Clarify When Workers Are “Employees” Or “Contractors”
By 7.16.15
Where is a business supposed to draw the line between a traditional employee and an independent contractor hired by the company? Some say it’s a question of hours worked, or whether the position is project-based, while others claim it’s whatever the company and the worker agree to call it. In an effort to clarify the matter, the U.S. Dept. of Labor has chimed in with new guidance for employers.
[More]
Outdated Social Security System Puts Some Who Wait To Marry At Greater Risk For Poverty In Retirement
By 2.27.14
Marriage has long been seen as a way to bring stability to a couple’s finances. You earn together, save together, and many decades down the road you may even qualify to receive retirement and survivor income from Social Security thanks to your beloved. But times are changing and the rules that govern these benefits were designed more than 50 years ago when fewer women worked and couples tended to tie the knot earlier. Today’s evolving marriage and work trends are leaving some future retirees vulnerable. [More]
Will McDonald's Drop Health Care?
By 10.1.10
McDonald’s is or was at least kicking around the idea of dropping health care for 30,000 workers, in what seems to be a nose-thumbing reaction to government health care reform. [More]
Depressed Lady Loses Benefits Because Of Her Facebook Photos
By 11.20.09
A depressed woman has lost her benefits because her insurance agent found Facebook photos where she appears to be having fun.
What You Need To Know About Today's Unemployment Benefits Extension
By 11.6.09
If you’re still struggling to find a job in the current economy, you’ll be happy to know that this morning President Obama is expected to sign legislation to extend benefits for few more months. The New York Times has more info on how the extension will work, and who qualifies for it.
Ex-Time Warner Employee's Zombie AOL Account Finally Put To Rest
By 7.3.09
You may remember Jennifer, who we wrote about on Wednesday. She suddenly started receiving collection notices for an AOL account she hadn’t paid for since 2000. Her situation has since been resolved, and serves as an important reminder about accounts and benefits when changing jobs.
Congress Considers Partially Removing Tax Exemption On Employer Provided Health Benefits
By 6.9.09
While details of such an approach are still sketchy, it would likely involve employees paying tax on a percentage of their employer-provided health benefits. So if Congress decided that all such premiums in excess of $11,000 for family plans would be taxable income, and your company paid premiums worth $16,000 for your coverage, you’d have to pay taxes on $5,000.
Uh Oh, Someone Has Sued Suze Orman For Fraud
By 5.18.09
But not for her advice* or her fashion sense, as you might expect. In addition to doling out advice on TV and in books, Orman is a licensed insurance broker in California, and in 1999 her firm the Suze Orman Financial Group sold some long-term care insurance to Ann Garat, who developed ovarian cancer two years later. When Garat filed a claim, CNA Financial—the issuer of the insurance—rejected it, saying their fine print stipulated it wouldn’t cover care from family members.
Netflix Offers Not Only Unlimited Rentals, But Also Unlimited Vacation
By 5.13.09
In this age of decreasing perks, it’s semi-refreshing, semi-enraging to discover that Netflix salaried employees get unlimited vacation. Workers can fly the coop for more than a month at a time without checking in.
Settlers Life Insurance Denies Claim For Widow Of Gunshot Victim Due To Pre-Existing Medical Condition
By 4.22.09
At Settlers Life Insurance, being shot in the back by unknown assailants is trumped by Hepatitis C, and they won’t pay your benefits. According to the lawsuit filed last week (pdf), Curtis McCraw held a life insurance policy with Settlers Life Insurance at the time of his murder in April 2008. When his wife Stephanie McCraw attempted to claim the Accidental Death Benefit, Settlers denied her claim because her husband had “a pre-existing liver condition.” We knew Hepatitis was bad, but we didn’t know it could pull out a gun and shoot you. We wonder if Hepatitis C is what really killed Kennedy.
Royal Caribbean Scuttles Crown & Anchor Society
By 4.5.09
Royal Caribbean is gutting the Crown & Anchor society that lavishes loyal cruisers with perks like discounts, priority boarding, and a concierge lounge stocked with complimentary cocktails. The free booze will now be available only to cruisers who have sailed more than 25 times with Royal Caribbean. Many loyal passengers who don’t spend their lives on Royal Caribbean ships are understandably pissed.
When Buying Travel Insurance, Find Out What's Covered First
By 1.13.09
Richard is angry. He paid good money for travel insurance when he purchased tickets to Italy, and when he ended up having to work over vacation he canceled the trip and filed a claim. Access America denied it because being required to work during a trip isn’t covered by Richard’s benefit plan.
The 20 Best And Worst Cities For Unemployment Benefits
By 7.6.08
Losing a job is bad enough, but your unemployment benefits can vary wildly depending on where you live. The L.A. Times compared unemployment benefits to the cost of living and picked the twenty best and worst cities to be unemployed.
