Folks who follow a well-defined financial plan usually have some important dates circled on their calendars. At the beginning of the year, you probably plot out some annual goals. In the spring, you gather last year's info for tax season. In the summer, parents start budgeting for family vacations and the upcoming school year.
It's that time again! Every year, during the open enrollment period from October 15th through December 7th, we recommend that all seniors review their Medicare coverage and see what new options might be available to them. It's also extremely important that new retirees who are signing up for Medicare for the first time get a handle on the ABCDs of Medicare, as well as the things that Medicare does and doesn't cover.
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: