VIEWPOINTS
December 2, 2009
EDITORIALS
|
|
LETTERS
Editor Marc Emral | memral@communitypress.com | 853-6264
COLUMNS
|
Western Hills Press
Your Community Press newspaper serving Addyston,
Cheviot, Cleves, Covedale, Dent, Green Township, C H @ T R O O MBridgetown, Mack, Miami Township, North Bend, Westwood
communitypress.com
A9
PRESS
LETTER TO THE EDITOR
Cold War veterans
Thanks to George F. Hofmann for pointing out that those of us who were on active duty during the Cold War were deserving of at least some recognition during the very well organized and inspiring Veterans’ Day Program at Veterans’ Park. I’m sure that this was just an oversight by the speaker and was not done intentionally. Granted, there is no way that our time compared with those who sacrificed during the hot wars of the 20th and 21st centuries (including my father, World War II
Army vet Joe Homer Jr.). However, we did not shrink from the challenge, obeyed orders and deployed all over the world in an effort to preserve a very precarious peace. At least give us that. One other point: Are you aware that Cold War vets are not permitted to join the American Legion? This seems to me to be a real loss for both the Legion and the Cold War vets as I’m sure both would benefit from membership. Wayne J. Homer Washington Avenue Cheviot
Is this the year to convert to Roth IRA? As 2010 nears, there will be a lot of attention given to the possible merits of converting a traditional individual retirement account to a Roth IRA. Current limitations – based on income and filing status – which previously have prevented many investors from converting a traditional IRA to a Roth IRA, will be eliminated in 2010. Before we review the details, let’s review the differences between a traditional IRA and a Roth IRA: Traditional IRA • Tax deductible at the time of contribution • Distributions are subject to income taxes • Subject to required minimum distribution rules at age 70 and a half. Roth IRA • Contributions are nondeductible at the time they are made • Distributions are income taxfree as long as you meet the required holding period • Not subject to required minimum distribution rules of a traditional IRA. What changes in 2010? • The modified adjusted gross income limit of $100,000 income limit is repealed • Federal Tax liability for conversion can be deferred until 2011 and 2012, or paid in full in 2010. • You have the ability to convert all or part of a traditional IRA. This might influence the decisions you make now; for example, if you’re currently working but aren’t eligible to contribute to a Roth IRA this year. In this case, you might consider making a contribution to a traditional IRA for 2009 in anticipation of making a 2010 Roth conversion. Or, if you consider making a 2010 Roth conversion and opting to pay the conversion tax on your
2010 return, you might consider trying to defer deductions until next year to offset that conversion tax. There are a number of facSteven C. tors to consider Kehoe in the converCommunity sion process: • Do you Press guest need to withcolumnist draw money within the first five years of conversion? • Do you have the money immediately available for the conversion tax outside of the Roth IRA in another, non-retirement source? • Do you believe you will be in a higher tax bracket in 2010, 2011 and/or 2012? • Do you believe you will be in a lower tax bracket, a similar tax bracket or in a higher tax bracket when you retire? • Do you have a modified adjusted gross income of more than $100,000? • What is your time horizon and when do you intend to make withdrawals? • Do you have assets in the traditional IRA that have declined? The information I have shared is not intended to constitute tax or legal advice, nor is comprehensive in nature. It is merely an overview of some of the issues associated with potential Roth IRA conversions. Please consult with your attorney or accountant for advice specific to your situation. North Bend resident Steven C. Kehoe is a certified financial planner and principal of Kehoe Financial Advisors. He can be reached at skehoe@kehoefinancial.com.
MEETINGS • Village of Addyston Council members meet at 7 p.m. on the first and third Monday of the month at the Addyston Municipal Building, 235 Main St. Phone: 941-1313. Mayor: Dan Pillow. Vice mayor: Pam Jackson. • Cheviot City Council members meet at 7:30 p.m. the first and third Tuesday of the month at city hall, 3814 Harrison Ave. Phone: 661-2700. Mayor: Samuel Keller. President of Council: Debbie McKinney. • Cincinnati City Council meets at 2 p.m. every Wednesday in room 300 at Cincinnati City Hall, 801 Plum St. When there is a Monday holiday, all meetings including committee meetings are pushed back a day. City Manager: Milton
Dohoney Jr. Mayor: Mark Mallory. • Village of Cleves Council meets at 7 p.m. on the second and fourth Wednesday of each month at the Cleves Municipal Building, 101 North Miami Ave. Phone: 941-5127 for information. Mayor: Shawn Sutton. • Green Township Trustees meet at 5:30 p.m. the second and fourth Mondays of the month at the administration building, 6303 Harrison Ave. Phone: 574-4848. Administrator: Kevin Celarek. Trustee Chairwoman: Tracy Winkler. • Miami Township Board of Trustees at 7:30 p.m. on the fourth Wednesday of the month at the Miami Township Hall, 122 South Miami Ave. in Cleves. Phone: 9412466. Board president: Jack Rininger.
PROVIDED
Budding artist
Mother of Mercy High School senior Camille Chiappone received a $2,000 scholarship to the College of Mount St. Joseph for her work, “Garden Delight,” in the Mount’s Selections ‘09 student art exhibit.
Get facts on Medicare Complete plans November is the month when senior citizens in our communities choose their Medicare insurJoAnn ance plan for the Sommer next year. There Community are many to pick Press guest from and it is to get overcolumnist easy whelmed and confused by any one of these plans. I am a nurse with 30 years of experience and I struggle with understanding Medicare coverage. My purpose for writing is to inform the public of a major disadvantage in the Medicare Part C plans (also known as Medicare Complete plans), a disadvantage that has affected the health care of my patients. Medicare Complete is a lower cost alternative to the original Medicare program. It is a combination of the Part A and Part B options and is managed by a private insurance company that is approved by Medicare. Some of the private insurers seen in our area offering Medicare Complete are Aetna, Anthem, Humana and United Healthcare. The four subgroups in these plans are HMOs, PPOs, PFFs and Medicare Special Needs plans. These are called advantaged plans. The plans tout
About letters & columns
We welcome your comments on editorials, columns, stories or other topics important to you in The Western Hills Press. Include your name, address and phone number(s) so we may verify your letter. Letters of 200 or fewer words and columns of 500 or fewer words have the best chance of being published. All submissions may be edited for length, accuracy and clarity. Deadline: Noon Friday E-mail: westernhills@communitypress.com Fax: 923-1806 U.S. mail: See box below Letters, columns and articles submitted to The Western Hills Press may be published or distributed in print, electronic or other forms. “extra benefits” such as annual physicals, vision care, gym memberships, prescription drug coverage and “all for a lower cost”! Of course, the disadvantages are often not as clearly understood as the advantages at the time of enrollment. I want senior citizens to know Medicare Complete plans offer poor coverage for outpatient therapies. These rehabilitative therapies prepare the patient before they could even attend a local gym for exercise. If the senior has an event such as a stroke, heart surgery or knee replacement, the need for physical, speech, occupational and cardiac rehabilitation therapies are imperative. Outpatient therapy requires three visits per week for six to 12 weeks. Many of the Medicare
CH@TROOM Last week’s question
Compared to last year, do you plan to spend more or less on gifts this holiday season? “Happily, I am gainfully employed once again after being laid off in March, but I am not making the salary that I once was – I will be spending less.” C.A.S. “In answer to the question, I plan on spending a bit more. Now, my husband plans on us spending a bit less. I’ve already been shopping online. So far, I’ve gotten just family gifts but I don’t have much to buy. I’ve gotten free shipping on everything so far.” M.E. “Probably about the same. However, some items are more expensive this year.” B.N. “We will likely not spend more than we did last Christmas. However, we will not cut our spending
by an arbitrary amount or rate. We will endeavor to find gifts of the same quality as last Christmas, but will make a greater effort than is past years to find the sales, discounts, etc. Purchases at “regular” pricing will be very limited.” T.M. “Even though I have been unemployed a year and a half I plan on spending about the same. I can do this because I did save for the rainy day. I did put away for the unexpected and I started doing that after Sept. 11, 2001. There are defining moments in all our lives to make us grow up and be responsible for ourselves and our families … that day did it for me! God Bless everyone this Christmas especially those in the military!” L.D. “I always have a Christmas Club so each year I give about the same to all the kiddies in the form of money this way they can buy what they want, no worrying about take backs. So this year’s
A publication of Your Community Press newspaper serving Addyston, Bridgetown, Cheviot, Cleves, Covedale, Dent, Green Township, Mack, Miami Township, North Bend, Westwood
PRESS
Complete plans have co-pays of $50 to $90 per visit, costing the senior $150 to $270 per week. Most seniors are unable to pay these costs and receive minimal therapy, if at all. Although the meds are covered and co-pays are lower for doctor visits, co-pays for outpatient therapies in this aging population are currently unaffordable. Medicare Complete plans rob “Peter to pay Paul” because there is only so much to go around. I encourage senior citizens to look carefully at their health care insurance plan and to speak to their insurance representative about these high co-pays for rehabilitative therapies. Finneytown resident JoAnn Sommer is a registered nurse.
Western Hills Press Editor . . . . .Marc Emral memral@communitypress.com . . . . . . .853-6264
Next question Do you think DUI checkpoints, set up by police during the holidays, are effective? Why or why not? Every week The Western Hills Press asks readers a questions that they can reply to via e-mail. Send your answers to westernhills@community press.com with “chatroom” in the subject line. spending will be about the same as last year.” L.S. “Well, we planned to spend a lot less this year, but we’ve already past that. While we are not buying as much, the things we picked out cost more. I’d rather spend more on one item, but get what they want, rather than have them return things. We’ve also expanded our family this year to include boyfriends and a grandson. Happy Holidays.” C.D.
s
A WORLD OF DIFFERENT VOICES
Office hours: 8:30 a.m.-5 p.m., Monday-Friday | For additional contact information, see page A2 923-3111 | 5556 Cheviot Road, Cincinnati, Ohio 45247 | e-mail westernhills@communitypress.com | Web site: www.communitypress.com