Press Release

Seniors worry: Will the Affordable Care Act impact my Medicare?

PORTLAND, Maine — While the Affordable Care Act is abuzz with people asking how it will impact them, one sector has deep concerns: seniors on Medicare.

More than 150 R. M. Davis clients attended the firm’s second annual Senior College at the Portland Country Club on Oct. 24. The three-hour event has grown as more seniors find today’s financial landscape increasingly more difficult to navigate alone.

The new law does not have any significant impact on Medicare recipients, and they don’t have to navigate the health care exchanges, but questions still loom.

“There is a great deal of concern among our seniors on Medicare and how they will be impacted by the Affordable Care Act,” said Richard Carriuolo, CFP®, Vice President and Director of Wealth Management Services for R. M. Davis. “These concerns, together with a more complex economic market, attracted an even larger attendance than last year.”

Carriuolo presented strategies to optimize Social Security benefits for married couples, the risks and benefits of commercial annuities and Individual Retirement Account distribution planning and provided an overview of Medicare.

About Richard Carriuolo

Carriuolo is a graduate of Holy Cross College and of Harvard Law School. He is a certified financial planner and a member of the Maine State and American Bar Associations. Rich has served on the Boards of The Woodlands Club, Investment Adviser Association and Spring Harbor Hospital. He is currently on the Board of Maine Mental Health Partners.

About R. M. Davis

R. M. Davis is a nationally recognized wealth management firm with offices in Portland, Maine and Portsmouth, New Hampshire. For generations, clients in Northern New England have turned to R. M. Davis for professional financial asset management, as well as related services such as the management of a client’s day-to-day financial affairs, comprehensive financial planning and professional trust management. The R. M. Davis team simplifies clients’ lives as the “family CFO” through an integrated, problem-solving approach to the accumulation, protection and transition of their wealth. Visit for more information.



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