Jeff DaileyPlanning 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
Continue readingWhat 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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Kimberly Johnson5 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
Continue readingDiscussing Your Aging Care and Death
Discussing Your Aging Care and Death Now that Medicare has begun to cover advanced care planning, chaotic life – and dying – decisions will hopefully diminish Discussing Your Care and Death The “death panels” have arrived. Starting this month, your physician can charge Medicare for the time she spends speaking with you and your family about end-of-life care – a very good and important step. Lawyers bill for the time they spend counseling clients about estate planning. Until now, doctors have generally provided the analogous service – advanced care planning – for free. Patients often postpone such discussions because they’re afraid to face
Continue readingMoving & 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
Continue readingBudgeting 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?
Continue readingFewer Doctors Taking Medicare Patients
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
Continue reading5 Things to Consider When Comparing Health Insurance Plans
Whether you’re in good health naturally or you rely on medication and specialists to stay that way, finding the right health insurance plan is key—and you could pay a penalty if you don’t have it. 5 Things to Consider When Comparing Health Insurance Plans If you’re self-employed, your employer doesn’t offer health insurance, or even if you simply think you might be better off on a different plan than what your employer offers, you may find yourself buying individual health insurance. While shopping for your own health insurance may seem daunting, breaking down the plans can help you make a more informed
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