On today’s show, we tackle four of the most common Medicare questions we’re fielding from clients at Keen Wealth right now. Hopefully this conversation will help you sort out the important notices about your health care coverage from the junk mail that belongs in your shred pile.
Many new retirees are surprised to find that Medicare is not a simple, free, one-size-fits-all health care solution. There are crucial decisions that both you and your spouse will have to make to secure the coverage that makes the most sense during your golden years.
In this two-part blog series, I’m going to discuss how to plan for your transition away from employer-subsidized health care to Medicare. Today, we’ll go through the options available to folks who choose to retire early, meaning before they’re eligible for Medicare at age 65.
Moving from your employer-subsidized health care plan to Medicare or Medicaid can be one of the most complicated, and stressful, transitions for new retirees. Options vary depending on what state you live in. Weighing the cost benefits of affordable but restrictive Advantage plans, versus the freedom of a more expensive Supplement plan, can create budgeting challenges. We covered the basics of navigating Medicare in a very informative podcast earlier this year. Today, I want to give you some good news: once you do settle on a plan that provides for your health care needs, Medicare offers free preventative services that new retirees should jump on:
Whether you are currently enrolled in Medicare or are planning for it in the future, this episode will provide you with important information you need to be aware of. Medicare’s options and intricacies can be overwhelming if you’re not prepared for them – and like many issues in financial planning – they are a moving target.iTunes Between Now and Success
Health care costs are a wildcard for retirees and are only expected to rise due to an increase in life expectancy, a rise in the utilization of medical services, and rising prescription drug costs.