Planning your Medicare Plan

Planning your Medicare Plan

Commonly Overlooked Pieces of Your Medicare Retirement Plan Medicare enrollment can be a confusing and overwhelming experience, especially for first-time enrollees. The variety of plans and the costs associated with each can make it difficult to compare and gain a complete understanding of your total annual costs. Even if you have a comprehensive retirement plan that takes into account your health, circumstances can change. There is no crystal ball to tell you how your retirement will unfold. Planning your Medicare Plan While impossible to forecast your future health, there are several ways to prepare for the unexpected and protect your retirement

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What is Medigap?

What is Medigap?

What is Medigap? As to most people didn’t know about, although they should be. Medigap is an insurance that covers the gaps by Medicare. And although Medigap is private coverage insurance, it is highly synchronized by both federal and state government, and for this reason, what is Medigap best value is that it is affordable for many seniors. What is Medigap? The cost of health care is so expensive these days. Sometimes, when doctors or surgeons charge more than Medicare, you will have to pay the difference. The best thing is to apply for it within 6 months of first being

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5 Programs that Lower Medicare Costs

5 Programs that Lower Medicare Costs

5 Programs that Lower Medicare Costs Even with Medicare, many people struggle to afford premiums, deductibles and other out-of-pockets health care costs. There are five federal programs that lower your costs for care even if you do not qualify for Medicaid: 5 Programs that Lower Medicare Costs Veterans’ Administration: If you are a vet, the Veterans’ Administration (VA) offers low-cost services and prescription drugs directly. And, you can have VA coverage as well as Medicare. Medicare Savings Programs: Depending on your income, these programs help pay for Medicare premiums and coinsurance, even if you don’t qualify for Medicaid. There are three programs, Qualified Medicare

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Moving & Medicare

When moving to a new primary residence in another State or County, it is important to be aware that you may be required to change your Medicare Health Plan. Moving does not affect benefits for Part A (Hospitalization) and Part B (Outpatient) of Original Medicare. Nor does a change of residence affect your benefits for Medicare Supplements (often referred to as MediGap Plans). However, when moving to a different County or State there are two types of plans that can affect your benefits. If you have a Medicare Advantage Plan or Part D Prescription Plan, and that plan is not

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Budgeting Long Term Care

Budgeting Long Term Care

Budgeting Long Term Care Long-term care costs are an x-factor many people simply do not think about when budgeting their retirement. The odds you’ll need some form of long-term care, however, are surprisingly high. According to longtermcare.gov, 70% of people turning 65 should expect to use some type of long-term care in their golden years. Budgeting Long Term Care As calculated by Genworth financial, a semi-private room in a nursing home for 2015 cost an average of $80,300. When it comes to finances, seniors are generally on a fixed income, so how can a senior account for such an exorbitant cost?

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Fewer Doctors Taking Medicare Patients

Understanding Medicare through Supplemental Insurance

Fewer Doctors Taking Medicare Patients   In a recent discussion with one of my doctors, he and I spent a few minutes discussing the ongoing changes and challenges facing physicians who practice medicine today, and more importantly the impact on new doctors just starting to practice. Fewer Doctors Taking Medicare patients Many of today’s doctors leave medical school with a great deal of debt accrued during the pursuit of a medical degree, and few new graduates can afford to go into a sole private practice. A majority of recent graduates join a group or a hospital to avoid the costs of office

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Keeping Seniors Safe From Medicare Fraud

Safeguard Your Identity During Holidays

Keeping Seniors Safe From Medicare Fraud With Medicare enrollment season coming to an end on December 7th, some seniors may be scrambling to assess plans and make final decisions. Medicare is still a very confusing topic to many seniors, and worrying about the risk of fraud can add to this frustration. During this rushed state, it’s important not to lose sight of potential issues with fraud. Keeping Seniors Safe From Medicare Fraud Based on an Express Scripts survey, 10% of seniors said they or someone they know has been the victim of healthcare fraud. In fact, the Federal Trade Commission

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More Americans Choosing Generic Drugs

More Americans Choosing Generic Drugs Have you ever gone to fill a prescription and the pharmacist asks if you'd like the generic version of the medication, perhaps reminding you that it is at a considerable cost savings over the brand-named drug? Or you're told that your insurance will only cover the generic equivalent of what your doctor has prescribed?More Americans Choosing Generic Drugs The first time this happens, you undoubtedly have many questions: Is there a difference between branded and generic medicines? Will the generic be just as safe and effective? Do insurance companies prefer generics? If you have, you're

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How to Manage Multiple Medications

Someone older than 65 takes an average of six medications a day. Taking multiple medications at the same time is called polypharmacy. But with more medications come higher costs and greater risks, so it should come as no surprise that polypharmacy is a major concern for seniors. How to Manage Multiple Medications There are plenty of legitimate reasons why polypharmacy can occur. You may have developed a new condition, or an existing condition may have worsened. You may need certain medications to treat unavoidable side effects of other medications. And it may be that that you’re facing treatment gaps that

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