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Medicare Plans

Your Spouse Retires and Gets Medicare: Now What?

by My Senior Health Plan
written by My Senior Health Plan

When your spouse retires and gets Medicare, they (and you) will lose their work health insurance.

For example, Sylvia is 63 years old. Her husband Mike is 65. Mike is about to retire and will soon receive Medicare benefits. They will lose Mike’s employment group insurance (a benefit they’ve both enjoyed for decades). Sylvia will not be eligible for Medicare coverage for another two years. For the first time, she will be without health coverage.

NOTE: Medicare does not cover family members. Your spouse will apply for Medicare benefits at retirement age. Once you are eligible to receive benefits, you will apply separately to your spouse.

Here are some things to consider as you start the process of getting coverage until you age into Medicare.

Start with your health care needs

Unlike the group coverage you accessed through your spouse’s employment, this insurance is solely for you! Before you speak with your plan specialist, take a moment to evaluate your healthcare needs and preferences:

1) How often do you go to the doctor?

It could be that since you last updated your insurance, your health needs have changed. Maybe your visits to the doctor are less frequent. Perhaps you have health concerns you’d like to give more attention to (e.g., skin health and nutrition counseling).

Also, think about your dental and prescription needs. Did your dentist create a long-term treatment plan that may exceed your current insurance’s expiration? Without coverage, what are the possible costs for your medications?

2) How important is it that you keep your existing health care provider?

If you have a close relationship with your physician and want to continue with them, that will be an important consideration when choosing a new plan. Generally, an in-network physician will be more cost-effective than choosing to go out of network.

3) Do you want coverage only until you’re Medicare eligible?

Depending on your needs and preferences, you may want a plan to get you through the period between losing your spouse’s work coverage and getting your Medicare benefits. As you explore your options, keep in mind the coverage you’ve had until now—what you like and don’t like and the coverage that’s important to you.

Know your healthcare budget

As your spouse heads into retirement, your household income level will probably change. As you explore coverage to carry you through to your retirement, take into consideration your budget and how much you want to apply to deductibles and monthly premium costs.

Having a cost range in mind will make the process of choosing a pre-Medicare plan more straightforward.

For example, depending on your income level, you may qualify for financial assistance through your state or the Federal government.

If you don’t qualify for assistance, your plan specialist will help you find coverage to fit your budget and health needs.

Also, you may qualify for COBRA (Consolidated Omnibus Budget Reconciliation Act). This plan allows you to keep your group health coverage for up to 18 months after retirement. However, COBRA tends to be expensive, as most employers don’t subsidize the plan. The beneficiary must cover that additional cost.

Once your spouse retires and gets Medicare, you’ll need to find your own coverage

As you prepare for your spouse’s retirement, you’ll be navigating new territory. You’ll have to adjust to changes in income, your spouse’s leisure time, and your health insurance.

Take the opportunity to explore your previous coverage, as well as your care preferences, your health status, and your financial needs. The more you prepare now, the easier the transition to retirement, signing up for Medicare, and for you—getting pre-Medicare coverage—will be!

At MySeniorHealthplan.com, we can help you navigate getting healthcare insurance for the time between your spouse’s retirement and your eligibility to receive Medicare benefits. We’ll explain your options, and guide you through the process of getting the coverage that best fits your medical and financial needs.

Get started today! Give us a call Toll-Free: 877.255.6273

What our customers say:

“The people that my husband and I have dealt with at MySeniorHealthPlan have been “extremely” helpful and most of all very patient. They know the industry well and were able to make suggestions that really helped me make a decision as to what health plan would benefit my needs. We highly recommend their professionalism and like I said their kindness, knowledge, and patience.” – Susan Y., California

 

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Time to take pills
Health Tips

Tips To Avoid Self-Medication In Old People

by Kimberly Johnson
written by Kimberly Johnson

According to research concluded, it was found that 68.6% of the elderly had at least are involved with self-medication. The term self-medication is described as human behavior in which individuals treat health problems and severe illness without consulting or taking advice from doctors or healthcare professionals.

A person takes non-prescribed medicines or services which are often term as over the counter (OTC) without consulting or visiting a doctor. It also refers to the people who take dietary supplements for fast results without a prescription.

Self-medication can be extremely harmful as we only look for the on-time recovery, but the effects can be too harsh in the long run. Obviously, the relief isn’t permanent, and it only heals for the time being; taking medicines, drugs, and aging supplements from pharmacists will have damaging effects on your health.

Some people are also looking for cost-effective methods, but the savings worth nothing as you are putting yourself on the stake, and later you will have to spend more.

As far as older people are concerned, they already are on the verge of death, they are weak, and their body isn’t able to fight the harmful effects that these medicines could cause, and by taking the medications which are not prescribed by the doctor will make them more vulnerable.

One thing has been observed that older people doing self-medication are mostly relying on old prescriptions, taking friends’ advice, or the most found, using the internet for instant remedies and cures. Yes, you can research and make alterations in your life accordingly, but doctors and health care professionals are meant for this job.

You must have heard or read this that the work suits in the hands of the one skilled to do it. It is crystal clear that if someone else does it, he’s sure to make a mess.

Why Is Self-Medication Prevalent In Older People?

Self-medication means that you are ignoring the consultation of doctors and getting things done in traditional ways with suggestions and pieces of advice, reading blogs, and taking older prescriptions, which are likely not to work anymore.

Self-medication is a habit, a habit that can have appalling consequences sooner or later. Older people are more immune to viruses, and that is why they have a high altitude of getting a fever, cold, cough, body aches, etc.

Instead of going to the doctor or health care professional and getting the right prescribed medicines, older people are more likely to rely upon self-medication and take medications that relieve them from the pain for the time being.

A minor issue that could be quickly resolved earlier with doctor’s assistance will lead to something that will become terrible in the long run and challenging to diagnose or treat.

The reasons as to why older people are more prevalent are that they mostly get the attitude of carelessness and laziness. They try to save money by taking cheap and injurious measures instead of subsequent medication.

Tips To Avoid Self-Medication In Older People

There are several tips and ways to stop and avoid self-medication. Remember that determination leads to productivity and desired results, and the first step always lies in your hands.

Here are the seven most useful and functional tips to avoid self-medication. Have a look!

1. Listening To The Perspective Of Care Takers

There are around 423,200 home service agencies in the United States, with 1,976,692 employees working with different SOPs. So, the perspective of caretakers matters the most. They provide health care assistance to most of the older people in different states.

Caretakers also urge that self-medication is harmful and should be wholly suppressed. Their beliefs are not any different than ours. The home health care providers follow strict rules and principles for medication and counsel older people to unfollow this practice.

2. Know The Relationship Between Addiction & Self-Medication

Older people are found to be more addicted to certain things because of the practices that have been carried for a long time. Self-medication has become an addiction to tens of thousands of aged people around the world. Effective strategies are needed to prevent addiction by avoiding self-medication and bad habits.

3. Saying ‘No’ To Non-Prescribed Medicines

Nowadays, more people are inclined towards the internet. Checking for remedies and buying medicines, just like gadgets, is common in people of old age.

But the fact is real that thousands of online pharmacies and self-medication articles are unauthentic and fake, and taking medicines from them can put you in a position where you have to spend hundreds of dollars later for getting back to normal, which will still be uncertain.

Non-Prescribed medicines could be of great danger to your health because it might be out-of-date, expired, diluted, or fake. These cautions are not a matter of concern for the sellers, as they are just trying to sell the most number of products by putting fancy descriptions and fake reviews. All they are trying to do is just manipulating and mocking the buyers.

4. Setting Medical Assistance At A Priority

Setting priorities play a pivotal part in human’s life. Older people are often neglected when it comes to getting medical assistance at a priority. Older people tend to be lazier, and in mere oblivion, the weaknesses also lead to unforeseen circumstances.

A doctor’s work can never be done by anyone else, nor can it be done on your own. Older people are not admitting the reality and instead try to get the situation handled themselves. Setting up medical assistance will prevent unwanted happenings.

Instead of taking matters in your own hands, you should acquire for doctor’s help by getting the appointment, meeting in person, diagnosing the illness, and living a healthier life.

The doctor’s guidance as to what medicine will be a perfect solution for you, its dosage, the amount of it to be taken in, the possible side effects, or any harmful interactions is essential. All of this may be told upon the prescription after proper screenings.

5. Create Awareness

Awareness has always been a more significant element in change and for a better society. Public perception is essential, but it can only be impacted if people realize its importance. Older adults are weak and in an instability mode, so to create awareness and to educate them about it is the duty of those associated with them.

‘The first step towards change is awareness, and the second is acceptance.” – Nathaniel Brandon

The community develops when there are awareness and know-how of things. Self-medication is like a slow poison that acts slowly but gradually affects you. Awareness campaigns should be held to educate people regarding the dreadful impact of self-medication and how it puts you in emerging danger.

Virtual awareness campaigns can also do the part. Advertisements on the internet, television broadcasting, and billboards can create high awareness by highlighting the adverse effects of self-medication.

6. Understand The Role Of Drug Control Authority

There are thousands of online consultants and pharmacies operating without getting proper licensing and are not being monitored for security protocols and checks and balances. Older people being at home use the internet and try to get immediate solutions to their problems and often get in contact with the fake and manipulative sellers online. They aren’t familiar with the safety regulations imposed by these authorities for consumer protection.

Drug Control Authorities should keep a proper eye on as many of the fake sellers as they could. Registrations should be done, adequate issuance of licensing must be done, and monitoring of the products.

People are advised to buy research papers online but not to go online for consultation and medical prescriptions instead of consulting doctors for better and satisfying results.

7. Look For Reliable Pharmacists

Tens of thousands of pharmacies and online consultation services are fooling people. Taking online consultation is not as easy as buying essay help UK online. Pharmacists must be educated on the possible consequences of selling non-prescribed medicines and violating consumer protection regulations.

Even if you are taking an online consultation, make sure they are qualified and have a proper and updated license. Also, make sure that they pay attention to details and show a kind attitude. Lack of attention from your pharmacist increases the possibility of medical errors.

What are the Perils of Self-Medication? Getting It Concluded

Self-medication is dangerous and is not advisable to anyone, especially older adults, because they have a weak immune system. If you consume medicines without having a legit prescription, a lot of problems such as medical complications, over-dosage, and poisoning may occur. I have accumulated all the potential perils that self-medication can cause:

  1. You will be addicted to it.
  2. It will cause long term side effects.
  3. Your body condition may get relapsed.
  4. It can also cause instantaneous on-spot death.
  5. It will damage other healthy organs of your body.

 

Sickness and body-aches happen rarely, and for that, taking your own invented or friend’s prescribed medicine or doing remedy you read about on social media may heal you for the time being. Still, in the longer run, it will not be beneficial. Besides, it will make you more receptive to new diseases and illnesses.

Visiting doctor and implementing on the doctor’s prescription will save you from happening hazardous and keep you healthy and wealthy.

Author Bio

Claudia Jeffrey is currently working as Content Strategist at Crowd Writer, a credible platform to get on-time delivery of essay help UK. She has gained a credible reputation with her outstanding write-ups on the health and well-being of elders. She likes to share her views and opinions through writing.

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Bridging the Dental Care Gap
Health Tips

Bridging the Dental Care Gap

by Carol Marak
written by Carol Marak

An Aging Matters reader asked, “I would like Information about paying high dental costs. Do people have two dental policies? Do they go to Canada or Mexico for care? Do any states have programs for middle-income retirees?” Bridging the Dental Care Gap
Dental care is expensive. For some, there is not sufficient funds to care for their teeth. They’re forced to choose between paying for dental work or buying food. The lack of affordable dental care for older Americans is a problem across the country as baby boomers retire and people live longer. Many adults 65 and older don’t have dental insurance, according to dentists, health care workers and senior advocates. And dental care is among the top three unmet needs.
Notice: I’m not in the business of giving medical advice. I can’t say if traveling abroad for dental work is wise, safe or a best practice. That’s your decision. Medical tourism is not for everyone but it’s not as crazy as it sounds. Here are affordable ways to keep your teeth in good shape and not break the bank.

Dental Schools

Do a Google search to find a dental school near you and learn about the services they offered. In my area, the Texas A&M University Baylor College of Dentistry, one of the largest dental providers in the Dallas region, gets 100,000 visits annually at the school’s various clinics. Students provide treatment under a licensed clinical faculty supervisor. The cost for treatment at the College of Dentistry is 30 percent to 40 percent less than fees charged at private dental offices.

Travel Abroad

You can save up to 75% on the cost of dental care traveling to Mexico, Thailand, Costa Rica and dozens of other destinations. But does it make sense to do that? It depends. What type of care is needed? If you need only fillings, or a single extraction, or a simple check-up and cleaning, the money spent on travel and lodging might not be worth the trade-off unless you already have plans to travel to a given destination. The greatest savings by patients requiring extensive work are multiple implants, full dentures, full mouth reconstruction and other costly procedures.

Are Foreign Dentists Safe?

Yes, especially in popular dental destinations like Costa Rica, Mexico, Hungary and Thailand. Most have completed specialty training at elite US, UK and Australian dental colleges and are members of the American Dental Association, the Australian Dental Association, and the British Dental Association. Search online for reviews about specific dentists plan to visit and check their credentials, https://www.dentaldepartures.com/article/clinics/.
Some patients have saved thousands of dollars. The difference in price between having two or three implants or crowns done in the U.S. versus Mexico – or Australia versus Thailand outweighs the $1000 worth of flight and lodging expenses. The more dental work you need the more money you are likely to save.
Get my newsletter. Send an email to Carol@seniorcare.com with newsletter in the subject line.
Carol Marak, aging advocate and editor at Seniorcare.com. She’s earned a Certificate in the Fundamentals of Gerontology from UC Davis, School of Gerontology.
Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap

Bridging the Dental Care Gap

Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap Bridging the Dental Care Gap

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Health Insurance

Guide for Federal Retirees and Medicare Part B

by Jagger Esch
written by Jagger Esch

Medicare Part B covers physician and outpatient services. Part B can include ambulance services and durable medical equipment as well as laboratory tests and x-rays.

While most seniors get Medicare Part A “premium free”, most seniors pay a monthly premium for Medicare Part B. Generally, Part B premiums are taken out of your monthly Social Security check or a retirement check.

To Take Part B or Not to Take Part B, that is the Question

If you don’t take Part B when you are first eligible there is a 10% penalty on the current year premium added for each year you delay enrollment. You will need to pay this penalty for as long as you have Medicare.

You won’t owe a late enrollment penalty if you qualify for a Special Enrollment Period (SEP). This allows you to enroll in Medicare Part B and enroll through an SEP if you have health coverage based on current employment (yours or a spouse’s).

It’s important to know that not all coverage qualifies you for an SEP. The following types of coverage won’t qualify you for creditable coverage based on current employment and wouldn’t exempt you from paying the Part B penalty if you delay enrollment:

    1. COBRA
    2. TRICARE and Medicare– (unless you, your spouse, or dependent child are an active-duty member.) If you’re Medicare-eligible, you must be enrolled in Part B to continue receiving TRICARE benefits.
    3. Veterans’ benefits
    4. Retiree benefits

If you have coverage through a current employer (yours or a spouse’s) you may decide that you don’t need extra coverage. There is no penalty for delaying Part B enrollment if you or your spouse have other coverage based on current employment.

You can sign up for Part B through an SEP anytime that you’re still covered by the group plan or in the eight months after your employment or group coverage ends.

If you’re an active duty service member, you may delay enrollment, keep TRICARE and sign up for Part B during an SEP without paying a late enrollment penalty.

If you are 65 or over and still employed by the federal government or are a 65-year-old retiree that has health care coverage through your new employer or you are covered under a working spouse exemption, you can delay applying for Part B without penalty and that makes sense for many.

You can delay taking Part B without penalty if you switch FEHB coverage to a federally employed spouse to keep the benefit premiums non-taxable and delay without penalty for the 65-year-old retiree’s Part B enrollment. Unfortunately, retiree’s FEHB premiums are considered taxable income unlike active federal employees.

Many retirees work at another job after they leave the federal service. Federal retirees can also delay taking Part B without penalty if they are covered under a working spouse exemption or if they are working for other employers that provide primary healthcare coverage where the FEHB becomes secondary.

You must evaluate your costs to see if accepting insurance from your new employer would reduce your costs. If you start your own business or work for another company that doesn’t provide primary health insurance, you will be assessed a penalty if you don’t take Medicare B at age 65.

Part B Premium Determination

Medicare Part B premiums are determined by your Modified Adjusted Gross Income (MAGI). The higher your income, the higher your Part B premium. For many beneficiaries, the government pays a large portion of the Part B premium, about 75 percent, and the beneficiary pays the remaining 25 percent.

If you’re a high-income beneficiary, you’ll pay a larger percentage of the total cost of Part B based on the income you report to the Internal Revenue Service (IRS). If you have a high income and are considering not enrolling in Part B because you think it will save you money, this isn’t the case.

When you postpone enrolling in Part B, you’ll be subject to a late enrollment penalty that will increase your Part B premium the entire time you have Medicare Part B.

If you’re unsure about whether you should enroll into Medicare Part B, talking to your benefits coordinator at the place where you work can help you determine the best decision for you.

 

 

 

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Caregiving

Tips for Selecting the Right Skilled Nursing Facility

by Guest Blogger
written by Guest Blogger

Staff ratios, certifications, therapists on-staff . . . there are so many factors to consider when having to choose a nursing facility. Most importantly, does the site provide quality care? Below we walk through the challenges, the types of facilities, and what to look for, as you look to select the long-term care facility that is right for you.

Challenges of Finding a Quality Nursing Facility

Your first task is to understand what type of facility you need. If you’re coming from a hospital or other facility, your doctors and nurses will help. Here are some of the terms you might hear.

Types of Nursing Facilities – Skilled Nursing, Nursing Homes, and More

The services available at nursing facilities differ, though there is some crossover.

Skilled Nursing Facility (SNF)

A skilled nursing facility, or SNF, is geared toward people who are recovering from an injury or hospital stay. Residents receive help with dressing, bathing, and other activities of daily living, as well as services like physical and occupational therapy to aid your recovery.

Nursing Home

Despite people using the two terms interchangeably these days, a skilled nursing facility and a nursing home aren’t the same. While SNFs are structured for rehabilitation and temporary care, nursing homes are exactly that — homes. Instead of condition-specific care geared toward discharge, nursing homes provide routine support for ongoing needs.

Rehab Center

Rehabilitation centers are designed specifically to help patients recover their independence after an injury or illness. Patients are usually transferred to these facilities after hospital stays to receive physical therapy, occupational therapy, speech-language pathology, and related services. Patients also receive nursing care and help with daily needs.

Long-Term Acute Care Hospital (LTACH)

As you might assume, a long-term acute care hospital provides hospital-level care for people who need to stay for an extended period. In most cases, LTACH patients stay for 25 days or more.

A long-term care hospital usually takes patients who are expected to improve, but who may take time to do so.

Making the Best Choice

Some people enter nursing facilities from their homes; others transfer from a hospital. The latter option is often easier because your care team is there to determine the next steps.

Discharge Planning

When a hospital sends you somewhere for post-acute care, it’s easy to feel intimidated. Where are you going? Is it any good?

To help patients answer these questions, the Centers for Medicare and Medicaid Services (CMS) has finalized two rules for discharge planning.

  1. Hospitals are now required to provide patients with access to post-acute facilities’ quality scores and outcome results, including rates of pressure ulcers and hospital readmissions.
  2. Any skilled nursing facility with reports of abuse, neglect, or patient exploitation will have a consumer alert marked next to its name on Medicare’s Nursing Home Compare

Take advantage of these rules and research the material you’re given when you’re getting ready to leave the hospital.

Quality Checks and Certifications

As a patient or family member, you have the right to learn how others have rated a facility. Nursing Home Compare is a great resource, but you should also check the facility’s ratings regarding any special medical needs you might have.

If you have wound care needs, or if you’re worried about pressure ulcers (commonly known as “bedsores”), check out a facility’s quality status using the Vohra Center of Excellence Finder. Skilled wound care staff means that a facility takes the well-being and safety of its patients seriously.

Few things are more important for seniors than selecting the proper facility to meet their long-term needs. Make sure you are equipped with the right knowledge to make the right decision.

About the Author:

Kathy St. Fleur is a registered nurse with over 15 years of experience in healthcare administration, nursing, and case management. She currently serves as the Director of Intake Services for Vohra Wound Physicians. She lives in south Florida with her four children. Kathy is passionate about helping other nurses expand and enhance their careers both at the bedside and beyond.

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Smiling senior lady choosing travel tour with manager
Estate Planning

Will My Advance Directive Work In Another State?

by Guest Blogger
written by Guest Blogger

Making sure your end-of-life wishes are followed no matter where you happen to be is important. If you move to a different state or split your time between one or more states, you should make sure your advance directive is valid in all the states you frequent.

An advance directive gives instructions on the kind of medical care you would like to receive should you become unable to express your wishes yourself. It often designates someone to make medical decisions for you. Each state has its own laws setting forth requirements for valid advance directives and health care proxies. For example, some states require two witnesses, other states require one witness, and some states do not require a witness at all.

Most states have provisions accepting an advance care directive that was created in another state. But some states only accept advance care directives from states that have similar requirements while other states say nothing about out-of-state directives. States can also differ on what the terms in an advance directive mean. For example, some states may require specific authorization for certain life-sustaining procedures such as feeding tubes while other states may allow blanket authorization for all procedures.

To find out if your Advance Directive document will work in all the states where you live, consult with an Elder Law Attorney. To find an Elder Law Attorney near you, go to:
https://eldercarematters.com/elder-law-attorneys/.

Christopher J. Leddy, Jr.

Article provided by Christopher J. Leddy, Jr., Managing Partner of the Heritage Law firm in Charlotte, North Carolina. Attorney Leddy is a Member of the National ElderCare Matters Alliance, and he and his firm have a Featured Listing on ElderCareMatters.com – America’s National Directory of Elder Care / Senior Care Resources to help families plan for and deal with the issues of Aging.

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Medicare Plans

How to Claim Medicare without Claiming Social Security

by Jagger Esch
written by Jagger Esch

Can you get claim Medicare benefits without claiming Social Security? You sure can, and we’re going to outline the reasons to consider this option along with some of the pros and cons of delaying your claim to Social Security benefits.

First, let’s look at some important information about Medicare and Social Security. Then, we can better understand why it makes sense to enroll in Medicare without claiming Social Security.

Medicare vs Social Security

Health insurance is offered through the Center for Medicare and Medicaid Services (CMS). Social Security provides people with a monthly stipend.

Medicare Part A is free for most recipients and Part B is usually deducted from your monthly social security check.

When beneficiaries enroll in Medicare at full retirement age, they may enroll through one of the online options. However, be careful if you do not want to activate your Social Security Income, or SSI benefit.

Follow the options that allow you to enroll in Medicare separate from your Social Security benefit.

Starting Medicare Benefits

With Medicare coverage, it’s important not to miss any of the deadlines or you’ll be penalized. The most important deadline is the Initial Enrollment Period, or IEP. This is a 7-month period that starts 3 months before the month you turn 65, includes the month you turn 65 and the 3 months after your birth month.

Even if you have creditable coverage through an employer, you will still want to enroll in Part A.

Part A is the hospital coverage. Since you are not enrolling in Social Security, that automatic trigger will not occur. You, as the Medicare beneficiary will need to enroll in Medicare only.

Part B, the medical coverage does have a premium that is imposed. When you decide not to claim your Social Security Income benefits, you will need to complete the enrollment form for Part B, and you’ll need to pay the monthly premium.

For most beneficiaries, it’s easiest to have the bill set as an automatic draft from a bank account.

Medicare Part D is the prescription drug coverage and you will need to select a drug plan and pay that premium directly to your insurance company.

In addition to your drug coverage, you’ll need to consider what type of coverage you want to fill the holes left by Original Medicare. A licensed agent can help you review your options, enroll and assist you in getting your reoccurring premium payments set up.

It’s imperative that you address how you will pay for Medicare Part B as delaying your Social Security benefit prevents SSI from paying that premium out of your monthly check.

Social Security

In this instance the Social Security benefit would be the SSI or Supplemental Security Income, commonly known as retirement benefits. SSI will serve as a monthly income when you’re ready to apply and start receiving benefits. Social Security benefits can be claimed as early as age 62 or as late as age 70.

If you claim social security benefits before you reach full retirement age, you will receive a reduced benefit for a longer period. If you wait until full retirement age (66 years and 4 months) or later, you will receive a higher benefit for shorter period.

This is a situation where you have to make a best guess. Consider some of the following:

  • Are you working?
  • How is your health
  • Does your family history indicate longevity of life
  • Do you have other income to support you if you delay taking your SSI benefit

 

If you apply to start receiving benefits before full retirement age, you’ll receive a reduced monthlybenefit. Your monthly benefit amount will always be reduced. Hence the reason so many beneficiaries opt to delay filing a claim with Social Security.

Furthermore, if you can delay applying for Social Security benefits until after “full retirement age”, your benefits are increased based on your birth year and the number of months you delay.

Once you reach age 70, the benefit increase no longer continues to grow. Currently, beneficiaries who delay receiving Social Security Income benefits are making about 8% more per month.

My Dad and his decision

My own dad, Joe, is receiving his social security income and started taking benefits when he was 65 years old.

Having been diagnosed with COPD in his late 20’s, then Atrial Fibrillation in his 50’s and a few other health conditions, Joe crunched the numbers around age 62. He decided that in order to get the most money from his years of paying into social security, collecting at age 65 presented the best-case scenario.

One in every four 65-year-olds will live past the age of 90. While it’s a tough pill to swallow, Joe doesn’t expect to live to 90.

So, in order to maximize his retirement earnings, he filed his claim for SSI at age 65. Yes, he filed prior to full retirement age. However, he now has the time and income to enjoy his golden years.

This is the reason why

Most people outlive their retirement savings and studies show we’re living longer than previous generations. With this in mind, we need to prepare for a longer retirement period.

That means if you can delay receiving benefits past age 65, you would receive a higher monthly payment. For most folks, that higher monthly payment would kick in around the time their personal savings has been exhausted.

Although you’re evaluating your life expectancy, you need would do well to keep in mind the life expectancy of your spouse. Especially if that spouse plans to collect Social Security Income based on your benefits.

Deciding when to collect your Social Security Income benefit will impact your retirement income as well as your spouse’s retirement income.

If your spouse plans to make a claim for Social Security Income based on their own benefits, then this is a moot point; your spouse would need to make these same decisions that you now face.

The short and skinny, there is no right or wrong answer. It’s never too soon to start considering your personal situation and begin evaluating where you are in life right now; measure that against how you want to live when you retire.

Every person is unique, and you need to weigh your options before deciding. Take heed of the call to action sang by the band Rush, “If you choose not to decide, you still have made a choice”.

It’s a lot to take in and it should take you more than an afternoon to decide if it’s in your best interest to claim Medicare without claiming your Social Security retirement income.

When in doubt, break out a pencil and paper and crunch the numbers.

Tip the scales in your favor and start planning for your future while it’s still in the future. After all, Medicare and Social Security have been planning how to fund your retirement since your parents were still part of the work force.

 

 

 

 

 

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Close up of female doctor and senior man hands holding walking cane
Medicare Plans

Who Can You Trust to Help Make Your Medicare Decisions?

by My Senior Health Plan
written by My Senior Health Plan

The many choices and options related to Medicare Advantage and/or Supplement Plans are enough to overwhelm even the most educated among us. You want to make the right selections, but without the proper guidance and direction, these decisions are dizzying.

You’re aware of how easily you could get stuck with a plan you don’t need or want, but you’d probably rather endure a colonoscopy than spend countless hours researching different plans.

Yes, navigating the world of Medicare Advantage and Medicare Supplement Insurance is difficult. But it doesn’t have to be. My Senior Health Plan will help you find you the right coverage at the right price—the plan that truly fits your needs and budget.

Here’s why My Senior Health Plan is the right choice for your healthcare needs.

Understand your options

There are numerous Medicare Advantage and Medicare Supplement Plan options. Not all of these plans are created equal, and each one is designed to address a specific set of medical needs. So which one is right for you?

My Senior Health Plan prides itself on offering a comprehensive, personalized service that addresses these questions directly. Their representatives will work with you to determine what’s important to you and how that translates to a Medicare plan.

They take the time to not just listen but also understand where you’re coming from and why. With this information, they use their expertise to find the right options to satisfy your needs and budget. My Senior Health Plan takes the guesswork out of Medicare coverage by presenting plans that meet your coverage needs at a price you can afford.

Review your current plan

If you already have a Medicare plan in place, My Senior Health Plan will conduct a complimentary review of your coverage to ensure you’re protected. They take the time to get to know every one of their customers so they can offer the absolute right coverage options, no matter what your situation.

As they review your current coverage, they will provide insight on the right times to change your Medicare Advantage or Medicare Supplement Plans. Medicare has stringent rules on when beneficiaries can make changes to their plans, but with My Senior Health Plan, you don’t have to worry. They know when and how to make changes to your plan, and they’ll take care of the heavy lifting for you!

Save money on coverage

Understanding what coverage you need means also understanding your budget. If you’re on a fixed or low income, they’ll make sure you have an affordable plan with low out-of-pocket expenses.

My Senior Health Plan understands the budgetary constraints faced by most seniors. They don’t pressure their customers into buying coverage they can’t afford. They know there are plenty of options available to meet every seniors’ financial needs.

Check prescription coverage

For many seniors, prescription drugs are their biggest medical expense. They’ve got to have these costs covered, but few know how to find the right prescription drug coverage.

The Medicare professionals at My Senior Health Plan are well-versed in the prescription drug plans and will help you find a plan to suit your needs while keeping your out-of-pocket costs low.

Enjoy lifetime support

My Senior Health Plan is here for you, long after you’ve selected coverage. They provide personalized service to ensure their customers are happy and confident in their Medicare coverage selections.

They also understand how situations change and that when they do, needs change, too. An annual coverage review is standard at My Senior Health Plan. Every year, they’ll happily reevaluate your situation and coverage options to provide guidance on if and how you should change your Medicare Advantage or Medicare Supplement Plan.

Contact My Senior Health Plan today to learn more about their services and your coverage options.

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Senior woman taking her daily medication
Seniors & Covid

Maintaining medication adherence during a health crisis

by Guest Blogger
written by Guest Blogger

People of all ages can have difficulty managing their medications, but this is especially true for seniors who may face physical limitations, memory loss, and multiple chronic conditions. Add to this the complexity that coronavirus (COVID-19) social distancing has created for caregivers and older adults, and you have a perfect storm for medication non-adherence, which is estimated to account for 10% of hospital readmissions, nearly 25% of nursing home admissions, and 20% of preventable adverse drug events in older adults.

So, what is medication non-adherence? According to the American Pharmacists Association, non-adherence includes delaying or not filling a prescription, skipping doses, splitting pills, or stopping medication early. In addition to generating an estimated $100 to $289 billion in health care expenses annually, non-adherence takes a toll on the health of seniors who may be on long-term medication and need ongoing, consistent care.

Millions of older Americans currently depend on a home aide or family caregiver for help with their medications, but the current COVID-19 crisis is causing lockdowns and restricted visitation rules at nursing homes, while independent seniors are isolated in their homes. As a result, medication adherence is at risk for all older adults. In addition, they are at risk of suffering from loneliness as a result of extended isolation and a disruption in their social connections.

If you or someone you know is a caregiver, or if you’re concerned about medication management for a loved one or family friend during the current health crisis, here are three strategies to stay socially connected to loved ones and help ensure they take the right medication at the right time.

  1. Use technology to establish a routine and method of reminders. Following a simple and memorable routine and reminder system can help aging loved ones remember to take their medications throughout the day. Technology can be an effective way to help older adults stay on track with medications, even if a caregiver cannot be there in person. Consider setting reminders on a cell phone for older adults, using electronic pillboxes, enlisting the help of apps, and employing a two-way, interactive medication management system that allows caregivers to interact with seniors to confirm they are taking their meds.
  2. Take advantage of pre-packed medication and bulk pharmacy options. Being prepared with the healthcare essentials – especially prescription medications – is critical for minimizing contact with at-risk populations during lockdowns and social isolation. By taking advantage of options to order multi-dose, pouched medications or a 90-day supply of ongoing medications from your pharmacy, and using curbside pick-up or delivery services, you can ensure that seniors take medications as directed while minimizing the spread of COVID-19.
  3. Maintain social interaction with regular calls and video chats. Research has revealed a positive correlation between social interaction and physical health, especially for older adults. The use of video-enabled technology is exploding in response to the current health crisis, as families and caregivers attempt to cope with the anxiety and fear that social distancing creates. Choose the technology platform that works best for the seniors in your life and collaborates with care teams to make the most out of video chat and medication management capabilities.

When taken correctly and consistently, medication can change a person’s life. For starters, the right treatment plan can promote independence for patients managing chronic conditions at home or it can promote healing and improvement in health status that allows patients to enjoy the things they love in life. Thanks to new and emerging technologies, patients and caregivers can realize better care coordination; have access to important information from providers; and benefit from a more satisfying, high-value care experience. And most importantly, the right technology can help loved ones age gracefully and in their best health.

By Lisa Lavin, Founder and CEO, Ōmcare

About the Author

Lisa Lavin is the founder and CEO of Ōmcare. The Ōmcare Home Health Hub™ gives caregivers of all types the ability to see and speak to those who need assistance with medication adherence. The easy-to-use Ōmcare system is designed to facilitate remote monitoring, medication reminders and dispense and visual confirmation of medication consumption – giving family members greater peace of mind. Learn more at www.omcare.com.

 

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