October 2021


Advisor News Insight

You can’t hit a target you cannot see...



Medicare Open Enrollment 2022 Guide

Medicare open enrollment for 2022 coverage starts on October 15, 2021 and continues through December 7, 2021.

Everything you need to know about this year’s enrollment dates, coverage costs, eligibility details and opportunities to change coverage.

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Medicare Open Enrollment

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401(k) Planning

401(K) RETIREMENT PLANS: Many Participants Do Not Understand Fee Information, but DOL Could Take Additional Steps to Help Them

Almost 40 percent of 401(k) plan participants do not fully understand and have difficulty using the fee information that the Department of Labor (DOL) requires plans to provide to participants in fee disclosures, according to GAO’s analysis of its generalizable survey (see figure). GAO assessed participants’ understanding of samples from several large plans’ fee disclosures and other information about fees, and asked general knowledge questions about fees.

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Annuity Planning

Do You Need an Annuity for Retirement Income?

By Amy C. Arnott, CFA, Portfolio Strategist for Morningstar.

Some guidelines on figuring out if an annuity makes sense for you, and if so, how much to allocate.

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Roth IRA Planning

Congress Looks To Eliminate Back-Dorr Roth Strategies

By Sarah Brenner JD, Director of Retirement Education at Ed Slott and Company, LLC.

The House Ways and Means Committee has released a draft of proposed changes to retirement accounts, including adding income limits for conversions and eliminating the back-door Roth conversion strategy. These proposals are designed to raise revenue and are likely, at least in part, a response to recent headlines about large Roth IRAs held by billionaires. Unless otherwise noted, the proposals would be effective for 2022. Here is what this means for your retirement account.

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Tax Planning

Bills To Be Considered On House Floor

The House of Representatives is getting closer to voting on a huge package of budget legislation that could lead to many federal benefits program and tax changes — including a 50% cut in the “basic exclusion amount” that determines which estates pay the federal estate tax. House leaders have posted a collection of eight big PDF files related to the budget reconciliation process, with the bill number H.R. 5376, on their list of “Bills to Be Considered on the House Floor” this week.

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Tax Reform Update: Ways and Means Committee Proposal

Distributed by Conway Wealth Group

On September 13, 2021, House Ways and Means Committee Chairman Richard E. Neal (D-MA) released legislative text for the budget reconciliation bill that the Democrats are currently working on. On September 15th, the Ways and Means Committee advanced the legislation in a near party-line vote of 24-19, so it now heads to the House Budget Committee.

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The Made in America Tax Plan Report

The U.S. Department of the Treasury released the Made in America Tax Plan Report to provide additional depth on the plan first announced last week as part of President Biden’s American Jobs Plan, a comprehensive proposal aimed at increasing investment in infrastructure, the production of clean energy, the care economy, and other priorities.

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Ways and Means Releases List of Tax Provisions for Budget Bill

By Alistair M. Nevius, J.D. Editor-in-Chief, tax, magazines & newsletters at AICPA.

The House Ways and Means Committee on Monday released legislative text for proposed tax changes to be incorporated in the budget reconciliation bill known as the “Build America Back Better” act. The committee plans to mark up the bill on Tuesday and Wednesday. The proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code. Here are highlights of the proposed changes.

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Will Taxes Rise for the Wealthy?

By Michael Townsend, Managing Director, Legislative and Regulatory Affairs and Hayden Adams, CPA, CFP®, Director of Tax and Financial Planning, Schwab Center for Financial Research at Charles Schwab & Co., Inc.

The U.S. House Ways & Means Committee recently approved a package of tax increases on the wealthy to help fund a $3.5 trillion “Build Back Better Act,” an economic package that includes expanded Medicare, free community college, universal prekindergarten, and more.

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§7520 Rate for October is: 1.0%

Break down:


Assumed Federal Rates

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Better This Year

Source: Federal Reserve Bank of New York

Approximately 1 out of every 7 “recent graduates” from college (13.6%) was unemployed in June 2020. Just 1 out of every 16 “recent graduates” from college (6.2%) was unemployed in June 2021.

Consecutive Bears

Source: BTN Research

Over the last 75 years, the shortest time period between the end of one bear market for stocks and the beginning of another bear market for stocks is 26 months. The S&P 500 fell 22% during a bear market that ended on 10/07/66. The next bear market for the stock market, an 18-month long tumble o f 36% began its downward slide on 11/29/68. The latest bear market for stocks, a decline of 34% over just 33 days, ended on 3/23/20 or 17 months ago.

Debt Limit

Source: Congressional Budget Office

The Treasury Department reset our nation’s debt ceiling limit 5 weeks ago on Sunday 8/01/21 to our government’s outstanding debt as of that date, i.e., $28.428 trillion. Since 8/01/21, the government has taken “extraordinary measures” to borrow funds without “breaching” the new debt ceiling. The government will “run out of cash” in the next 2 months unless the debt ceiling is raised again.

Down, but Still a Long Life

Source: National Vital Statistics Report

Life expectancy at birth dropped to 77.3 years in 2020, down from 78.8 years in 2019. Life expectancy at birth was 77.4 years in 2005.

End of Life

Source: National Center for Health Statistics

More Americans died in 2020 (3.381 million) than in any year in US history.

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Losing Ground

Source: U.S. Bureau of Labor Statistics

Wages and salaries of all “civilian workers,” defined as workers in the private sector along with workers for state and local governments (but not federal government workers), increased by +3.2% on a year-over-year basis as of 6/30/21. Inflation, as measured by the “Consumer Price Index” (CPI), was up +5.4% over the same 12-month period.

Lots of People Need Help

Source: Centers for Medicare & Medicaid Services

Medicare covers 61.2 million Americans, while Medicaid covers 73.8 million low-income Americans.

To the Heirs or to Charity?

Source: Federal Reserve System

26% of the $137 trillion net worth held by Americans as of 3/31/21 is owned by US citizens at least age 70, i.e., $35 trillion.

Where the Wealth Is

Source: National Reverse Mortgage Lenders Association

The amount of equity American seniors at least age 62 have in their homes has doubled since the end of 2011, rising from $4 trillion as of 12/31/11 to $8 trillion as of 12/31/20.

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Exit Planning Institute™

Exit Planning Institute™

The Authority in Exit Planning & Value Acceleration

Exit Planning Institute™ is an education company that certifies and supports more than 2,600 CEPAs (and counting), as well as thousands of advisors worldwide through national, regional, chapter, and virtual education.

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Advisors Guide to Medicare and Medicaid

Advisors Guide to Medicare and Medicaid


This course provides a detailed study of Medicare, Medigap and Medicaid. In each of these programs, the areas of eligibility, enrollment, benefits, deductibles, and co-payments are analyzed in great detail. This course also includes a chapter on Medicaid Planning discussing the issue of transferring assets during the “crisis stage,” use of Trusts, qualifying Medicaid Annuities and Promissory Notes.

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2021 Federal Income Tax Guide

Our Tax Guide contains tax information such as:

  • Individual income tax rates
  • Estates and trusts tax rates
  • Roth IRA contribution limits and much more...

Download the Tax Guide below:


2021 Social Security & Medicare Reference Guide

Our Reference Guide contains information such as:

  • Social Security income limits
  • Medicare Parts A-D deductibles and premiums
  • Medicare surtaxes and much more...

Download the Reference Guide below:


Financial / Insurance Calculators & Websites

An extensive list of online calculators and informational websites.


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View updates by state, CE requirements and more by clicking on the link below.

View Updates

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Online CE Courses

At BEST we provide you with a lot of CE credit. Courses are cost-effective, updated annually and nationally approved for state insurance and professional designation credits (CFP, CIMA, CPWA and RMA). Our CE courses are specifically designed for quick completion and include:

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View Our Course Catalog

Virtual Super CE Events

Live Webinar Presentation: It’s All About Income
Self-Study Course: The Advisors Guide to Retirement Planning
Thursday, October 28th from 3:00PM-4:30PM Eastern Time

We provide advisors with:

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  • Up to 21 credit hours of State Insurance CE credit (varies by state)
  • 10 CE credit hours of CFP
  • 5 CE credit hours of CIMA, CPWA and RMA
    • Cost is $74.95 per event plus state insurance filing fees when applicable
      If you are unable to attend the live webinar, you may view a recording of the webinar
      or credit may be transferred to the next available live webinar. (NOTE: A $20.00 cancellation fee will apply for all refunds requested.)
    • Includes certificate for CFP, CIMA, CPWA, RMA, and other professional designations
Register Now

CFP/CIMA/CPWA/RMA Ethics CE 2-Hour Live Webinar

“Ethics CE: CFP Board’s Revised Code and Standards:
Ethics for CFP Professionals”
(CFP Course#: 277681 | CIMA/CPWA/RMA Course#: 21BEST011)

Earn two (2) credit hours of CFP and/or CIMA, CPWA and RMA Ethics CE with NO EXAM!

(“Investments & Wealth Institute® has accepted this CFP Ethics webinar for 2 hours of CE credit towards the CIMA®, CPWA® and RMA® certifications.”)



  • CFP ONLY license: $49.00
  • CIMA, CPWA AND RMA ONLY license: $49.00
  • CFP WITH CIMA, CPWA AND RMA licenses: $49.00 plus an additional fee of $25.00

NOTE: Attendees MUST participate in all exercises and polling questions during the webinar. Credit received for attendee time logged and participation, NO EXAM at end of webinar. (A $10.00 cancellation fee will apply for all refunds requested.)

Register Today

Self-Study CE Course List

As a top-notch continuing education provider we:

  • Deliver CE to financial and insurance advisors
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Order CE courses toll free at: 1-800-345-5669 OR
send an email to

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