Retirees facing the burden of high prescription drug costs will see significant relief starting in 2025. A new report from AARP indicates that changes to Medicare drug coverage will cap annual out-of-pocket drug costs at $2,000, benefiting millions of participants over the next few years. Impact on Out-of-Pocket Costs The new out-of-pocket cap will result
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General Motors has recently announced its decision to integrate its all-electric BrightDrop commercial vans into the Chevrolet brand. This strategic move is aimed at boosting sales, accessibility, and recognition of these vehicles among consumers. By aligning the BrightDrop vans with the strong Chevrolet brand, GM hopes to drive increased volume and cater to customers looking
The U.S. Department of Education recently announced new details about the rollout of the Free Application for Federal Student Aid (FAFSA) for the upcoming academic year. The department plans to conduct beta tests of the 2025-26 FAFSA, starting on October 1, before making it available to all students and contributors by December 1. This phased
The anticipation surrounding Federal Reserve Chair Jerome Powell’s upcoming policy speech is palpable, yet the likelihood of any groundbreaking news emerging from his address appears slim. The market seems to have already made up its mind about the Fed’s course of action, with widespread speculation stating that the central bank will commence lowering interest rates
The Biden administration recently announced that it will resume offering free at-home Covid-19 tests to American households starting in late September. This decision comes at a time when the virus is making a resurgence in the U.S. during the summer months. Through the COVIDtests.gov website, Americans will have the opportunity to request up to four
Managing taxes can be a daunting task for retirees who have income from various sources such as Social Security, pensions, retirement plans, or other investments. The quarterly estimated tax deadlines for 2024 might seem like a hassle, but there is a lesser-known strategy that can help retirees cover their taxes efficiently. Experts suggest utilizing required
Disney has recently announced that it will be raising prices on its streaming platforms starting mid-October. The price hikes will affect most plans for Disney+, Hulu, and ESPN+, with an increase of $1 to $2 per month. The most expensive plans for Hulu, which include live TV, will see a $6 increase per month. Disney+
The upcoming Federal Reserve meeting is poised to set the stage for potential future actions rather than immediate changes. It is anticipated that the policymakers will maintain short-term interest rates at their current levels, but will likely pave the way for interest rate cuts in September. The crucial question revolves around the extent to which
The Duane Arnold Energy Center in Palo, Iowa ceased operations in 2020 after 45 years of service. However, NextEra Energy is now considering restarting the nuclear plant as demand for carbon-free energy grows, especially amid a historic surge in electricity consumption. NextEra CEO John Ketchum highlighted the need for a thorough review of the risks
In a surprising turn of events, Ford Motor Company recently announced a shift in its production plans for the Super Duty trucks. The company had initially intended to convert a Canadian plant into an all-electric vehicle hub with a significant investment of $1.3 billion. However, Ford has now decided to expand the production of its