http://www.twitter.com/acaonthehillSummer is often a time in Washington where the business of government seems to slow down as everyone starts to look forward to the August recess and dreads the oncoming heat and humidity.  However, this year is a change from years past, as not only has Washington pretty much been spared oppressive temperatures, but the Senate has decided to stick around most of August and the Trump Administration has issued a proposal, and a final regulation, that could very well shape healthcare policy for years to come.

On June 19, the U.S. Department of Labor released a long-awaited final rule expanding the availability of alternative insurance plans that do not need to meet the 2010 Affordable Care Act’s benefit requirements.  The rule was handed down despite deep concerns from consumer advocates, state officials and physician groups, including the American Chiropractic Association (ACA). The rule will extend so-called “association health plans,” which allow insurance companies to skirt benefit requirements and other parts of the 2010 law.

Social Security was enacted in 1935. The program is officially known as the Old Age, Survivors and Disability Insurance program (OASDI). After earning 40 quarters, an individual at retirement age is eligible to begin collecting a benefit. Retirement benefits depend on your age at retirement. If you begin receiving benefits before your normal or full retirement age (FRA), you'll receive a reduced benefit. Four out of five future retirees agree that the Social Security system needs change. Many are fearful that benefits will be reduced and are unaware of the basics regarding their eligibility, participation and the monetary benefits of their Social Security profile. Sadly, 55 percent believe that Social Security will be their primary source of income in retirement.

*Member-Exclusive Content* A bill combining the Department of Veterans Affairs’ (VA) seven community care programs easily cleared the Senate May 23 with a vote of 92-5. Included among the programs is the Veterans Choice Program, which allows veterans to seek care from private providers, including chiropractors. The bill also eliminates previous requirements for accessing outside services. While this is a promising development, the American Chiropractic Association will closely monitor resulting regulations and implementation in consideration of past issues chiropractors have experienced with the Veterans Choice Program.

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Less than 50 percent of the U.S. population consult and hire a financial consultant. There is a myriad of answers for why this may be. Those who do work with a financial professional have an expectation of certain results. If the goals are realistic and not achieved within a given time period, a client should obtain a clear explanation as to why discussed benchmarks were not reached. Additionally, a planner should convey concise and easily understood explanations of any suggested changes going forward. There are times where nothing should be done. Open communication is an essential part of the financial planning process.