Consumer Confidential: Imagining Seniors in a World Without Medicare

It’s pretty well known that Americans pay more for health insurance and medical treatment than people in other developed countries — at least until they turn 65 and are eligible for Medicare. But what would things look like if the government-run insurance plan wasn’t an option? Kaiser Permanente provided a glimpse of such a prospect when it notified Los Angeles resident Layne Smith recently that his monthly insurance premium would...

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Some Millennials Socking Away 15%of Their Salary

Meet the Millennial Super Saver. He or she is an ordinary human, 18 to 34, who saves at least 15 percent of his or her salary each year in a 401(k) retirement savings plan. The mission: Save enough to retire comfortably. Or at least retire. An analysis by Fidelity Investments of the 13 million participants in 401(k) plans it administers found close to 421,000 of these young “super savers,” as Fidelity calls them, accounting for almost...

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Average Used-Car Price Up 7.6% to Record High of $18,800

Used cars are following the pricey road paved by new cars. Used-car prices hit a record high in the second quarter of 2015, climbing 7.6 percent year-over-year to an average of $18,800, according to a new study by car shopping site Edmunds.com. The price growth mirrors the average transaction price for new light-duty vehicles, which hit a near-record $33,340 in the second quarter this year. “People are buying more trucks and SUVs, and...

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Dow Marks Longest Slump Since 2011

New York — U.S. stocks fell Friday, with the Dow Jones industrial average posting its longest slide since 2011, amid declines in commodity producers while data showed continued progress in the labor market. Energy companies dropped as oil sank to a four-month low, while raw materials fell the most in two weeks. Hershey slid 2.7 percent after quarterly revenue missed estimates. American Express rallied 6.3 percent as an activist fund...

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Economy’s 215,000 New Jobs Called Good Sign

Washington — September remains in play for a Federal Reserve interest-rate increase after the U.S. added 215,000 jobs in July, extending progress that’s encouraged policymakers to move toward removing unprecedented monetary stimulus. A measure of traders’ bets on a September rate hike rose to the highest level this year after a government report showed employment growth last month was in line with the 211,000 average monthly gain so...

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