Long-Term Care Insurance: 3 Common Misconceptions

Hand of young affectionate and careful woman on that of her senior father

Like any insurance plan, long-term care insurance provides financial relief when you need it most. However, long-term care insurance is expensive. Given the expense, people put off buying a long-term care (LTC) policy or even making a plan for their future care needs. But if they do need it (and the odds are higher as people age), and care facility costs and home-care provider fees start to build up, the premium can provide financial support and peace of mind. Here are three common misconceptions why people think they don’t need an LTC plan and why rethinking that approach is important:

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How to Claim Medicare without Claiming Social Security

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

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Your Spouse Retires and Gets Medicare: Now What?

Financial problems of senior couple

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

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What is the Medicare Special Enrollment Period?

close up of senior man and doctor at hospital

Right now, we’re in Medicare’s Open Enrollment Period (OEP). But what happens if a major disaster strikes and you’re not able to take advantage of OEP? Don’t worry, you’ll still be able to change your plan if you need to. The Medicare Special Enrollment Period (SEP) extends the Medicare enrollment period during extenuating circumstances. For example, you might find yourself in the midst of a life-altering weather event that prevents you from selecting coverage during OEP. Or you might need to move to a new state and discover that your previously selected coverage is not offered in your new state

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Who Can You Trust to Help Make Your Medicare Decisions? 

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

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

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How to Enroll in Medicare if You’re Working Past 65

Senior woman with laptop and smartphone working in home office

For decades, the gold standard for retirement age was 65. But in the last several years, we’ve seen the retirement age inch up with many folks working past 65. Now, 20 percent of Americans age 65 and older are participating in the workforce—the highest rate in nearly six decades. Some of this is due to the U.S. government formally changing the Social Security retirement age. Since 1983, the retirement age, previously set at 65 has slowly inched toward 67, with the current age set at 66 and eight months. But there’s more going on here. Not only are we living

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Do You Really Have to Wait Five Years to Access Medicaid Benefits?

Portrait of an aged woman outdoors

If you or someone you love is trying to qualify for Medicaid, you may have heard people talking about—or in most cases, complaining about—having to wait five years to access benefits. If you don’t have access to professional guidance, you could easily fall victim to this common misconception about Medicaid. When people complain about waiting for Medicaid to kick in, what are they talking about? It’s what Medicaid calls its five-year lookback period. How does this work? Let’s say you’re applying for Medicaid. As part of the application process, you may  be required to provide financial information for the previous

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Medicare 101

Medicare 101

While most individuals embrace the aging process, Medicare is excellent coverage that many seniors look forward to obtaining. Medicare has been providing health insurance coverage since 1965 for individuals 65 and older as well as certain disabled Americans. Over 15% of the country is currently enrolled in Medicare today and that’s a definite bonus after having worked for most of our lives. Being on Medicare means having Hospital and outpatient coverage for many services. Although, many seniors are unaware of the coverage they have and what expenses they’re responsible for paying. Having a Medicare Supplement could help you plan your health

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Understanding the 2020 Policy Changes to Medicare

The beginning of a new decade is upon us, and significant changes are happening. Understanding the 2020 Medicare Advantage Open Enrollment Period could bring you great benefit. The enrollment period provides an extra opportunity for you to get the best coverage. Medicare is full of many parts, and it may be challenging to keep up with all the new rules. Different enrollment periods have varying guidelines. Regulations include specific dates. Beneficiaries can forget about the old Medicare Advantage Disenrollment Period. The new and improved Medicare Open Enrollment Period is the replacement. The last time to enroll, according to federal law,

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