Financial Planning

Financial Planning

Can I Give My Kids $19,000 a Year and Apply for Medicaid?

If you have money to give your children, you certainly can, but you should be aware that you may face consequences should you apply for Medicaid long-term care coverage within five years after each gift. ...
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How Work Affects Social Security Benefits

Many Americans nearing retirement age face a financial decision: Should they stop working entirely when they begin collecting Social Security benefits or continue to work? There is no one-size-fits-all answer. ...
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Living Wills, Health Care Directives and Other Vital Documents

More than essential legal tools, these documents can help you shape the life you want to lead as you age. The planning and thought involved in making and maintaining advance directives can give you a sense of autonomy and peace. ...
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How to Finance Your Next Home Upgrade in Northeast Ohio

Are you dreaming of a brand-new kitchen or that spa-like bathroom you’ve always wanted? Home upgrades can seriously improve your quality of life while adding value to your home, especially in a market like Northeast Ohio, where property values are climbing steadily but remain affordable compared to the national average. However, renovations aren't cheap, so you need a clear plan for how you’re going to pay for them. ...
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Are You Ready for Retirement?

If you're in your mid-50s and older, retirement is a popular topic, at least among my friends. We're already retired, thinking about it, or wondering how much longer to keep working. ...
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The Hidden Costs of Complicated Births in Northeast Ohio’s Healthcare System

When families in Northeast Ohio prepare for childbirth, they often focus on the joy of welcoming a new baby while budgeting for standard delivery costs. Complicated births can change this experience into a financial, emotional, and logistical nightmare for expecting parents. Preparing for these potential costs is crucial for minimizing stress during what should be an exciting time.

What Makes a Birth “Complicated”?

Birthing complications are a wide range of medical situations that deviate from routine natural delivery. These scenarios require immediate medical intervention and specialized care that dramatically increases both immediate and long-term costs.

Complications Arising From a Complicated Birth

Primary complications include:

  • Premature delivery that requires extended NICU stays.
  • Prolonged labor lasting more than 20 hours.
  • Fetal distress requiring emergency medical intervention.
  • Umbilical cord complications or placental issues.

How These Situations Arise in Northeast Ohio Hospitals

Northeast Ohio’s healthcare system presents unique challenges that can influence birth outcomes. Varying levels of staffing and trending across different facilities create disparities in care quality and complication management.

Access to maternal-fetal specialists remains limited in rural areas, forcing high-risk pregnancies to travel significant distances for specialized care. This geographic divide between rural and urban care access often delays critical interventions, potentially worsening outcomes and increasing costs.

The Financial Burden of a Complicated Birth

Medical Bills That Go Beyond Delivery

Complicated births create medical expenses that extend beyond standard delivery charges. NICU stays can cost thousands of dollars per day, with premature infants requiring weeks to months of intensive care. Follow-up surgeries for both mother and baby create additional financial strain.

Surprise billing practices in Northeast Ohio hospitals often catch families off-guard, particularly when out-of-network specialists provide emergency care during delivery. Insurance coverage gaps leave families responsible for substantial portions of these unexpected medical bills.

Lost Wages and Long-Term Care Expenses

The cost of at-home nursing care or specialized education support can persist for years, creating ongoing financial pressure.

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Why the Social Security Retirement Age Is Now 67, Not 65

As retirement planning becomes more complex, it’s essential to understand how your age affects your benefits. This will help you make informed choices that will affect your financial well-being for years to come.  ...
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Free Webinar Gets Your Affairs in Order

"Late To Your Own Funeral: How to Leave a Legacy and Not a Logjam" is the topic of a free webinar offered by Northeast Ohio Thrive in partnership with Positive Aging Community. ...
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