Medicare

Yes, You Need An Annuity in Retirement

There is plenty of financial advice about Annuities, but the truth, when you apply federal regulations, is the simple fact that, yes, if you are relying on Social Security in any way you need an Annuity in retirement. For those in retirement federal regulations state: You must accept Medicare when eligible in order to receive […]

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Original Medicare verse Medicare Advantage Plans

Original Medicare or Medicare Advantage …that is the question. In retirement, for those that are 65 or older and who are no longer covered by health insurance from an employer of spouse’s employer we are faced with the decision of having to choose between either enrolling into Original Medicare or opting for a Medicare Advantage […]

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Most and Least Affordable States to Reside in for Original Medicare Coverage

In retirement, when it comes to health coverage there is only Medicare. Here is a breakdown of the most and least affordable states to reside in for of Original Medicare that includes a Part D Drug Plan and a Medigap Plan G policy: With the cost of Medicare coverage reaching over $405,000.00 this year for a […]

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2020 Retiree Healthcare Costs

With 2020 comes some changes within Medicare and unfortunately with these changes the out-of-pocket expected costs for a couple retiring today have increased significantly. For a couple, both 65 years old today, projecting to live until age 87 for the female and 85 for the male the expected cost to insure themselves through Medicare will […]

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2020 Medicare Premiums and Costs

The Centers for Medicare and Medicaid Services (CMS) released the 2020 Medicare premiums and costs that impact retirees for 2020. Unfortunately, the news doesn’t seem to bring a lot to be merry about for the upcoming year. Here is a breakdown of what retirees on Medicare should expect in upcoming costs for 2020: Part A […]

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Guess what? The government thinks you are rich

Good news! The government thinks you are rich and they are about to tax you accordingly. Bad news! Your financial advisor doesn’t see the problem they created and you don’t feel rich. Where the disconnect happens is once you are retired, you will enroll in Medicare and begin taking Social Security. Within Medicare there is […]

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Is Medicare for All the right solution?

With Congress killing any chance for healthcare reform within the United States for now there seems to be a push for a single payer system to be the solution and within that solution there is a cry of Medicare for All to solve the nation’s healthcare issues. On the surface, this may appear to be a […]

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The Hold Harmless Act

Through the “Medicare Catastrophic Coverage Act of 1988” Congress created a provision, the Hold Harmless Act, that protects those receiving Social Security benefits while enrolled into Medicare from ever experiencing a reduction in Social Security benefits from “too high” of Medicare Part B premium increases in a given year. The goal of this Act was […]

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Impact of Medicare’s IRMAA. Not all income is created equal

Since 2007, with the passing of the Medicare Modernization Act in 2003 and the Affordable Care Act in 2010 by Congress, Medicare has placed a surcharge, known as the Income Related Monthly Adjustment Amount (IRMAA), on top of the current Medicare Part B and Part D premiums for those retirees who earn too much income. […]

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