Senior Healthcare Advisors Blog
Navigating the Medicare maze can be overwhelming for beneficiaries. Usually, people qualify for Medicare at age 65 and are automatically signed up if they're receiving Social Security payments, unless they take steps to opt out.
Original Medicare comes in two parts - (Part A and Part B). Part A covers a portion of hospitalization expenses and Part B applies to doctor bills and other medical expenses, such as lab tests and some preventive screenings. But some seniors may find better value ....
From October 15th to December 7th, 42 million seniors will have the opportunity to make a choice on their Medicare Part D prescription plan that might save them hundreds and perhaps thousands of dollars.
However, 90% of those eligible will fail to take advantage and benefit from the savings, leaving billions on the table, which only benefits the insurance and pharmaceutical companies!
Losing muscle over time is one of the visible signs of ageing but there may be other signs of getting older that are not as obvious. Your brain's cognitive reserve also diminishes over time .... BUT initially there may be no visible signs of a slowing memory or memory loss.
Your brain's ability to withstand neurological damage due to aging and other factors lessens throughout the years, which can make it more difficult to perform mental tasks. But just like working out with weights to help retain more muscle in your later years, researchers now believe that following a brain-healthy lifestyle and performing regular, targeted brain exercises can also increase your brain's ability to function.
If you are approaching retirement and think your Social Security benefit always comes tax-free, you're mistaken. Today, 56% of Americans pay taxes on their Social Security benefit—up from 10% of Social Security recipients in 1984 when the federal government first began taxing the Social Security benefit.
These taxes can really take a bite out of your enjoyment of retirement, so it's important to learn now how Social Security income is taxed and explore ways to help reduce that tax burden.
As of 2019, Medicare beneficiaries enrolled in Part D prescription drug plans will no longer be exposed to a coverage gap, sometimes called the “donut hole”, when they fill their brand-name medications. The coverage gap was included in the initial design of the Part D drug benefit in the Medicare Modernization Act of 2003 in order to reduce the total 10-year cost of the benefit. Legislative changes are phasing out the coverage gap by modifying the share of total costs paid in the gap by Part D enrollees and plans and requiring drug manufacturers to provide a discount on the price of brand-name drugs in the gap.
So, let's briefly discuss a little more about the history of Medicare Part D and the coverage gap. Then we'll touch upon recent and proposed changes and how they will affect out-of-pocket costs for enrolles.
Let’s take a close look at Medicare Supplement Plans also known as (Medigap) plans and review costs and coverage in easy to understand language. As you read on you’ll begin to understand the differences in coverage that each supplement plan letter offers. You’ll also have the opportunity to get real time online quotes and side by side comparisons for each plan offered in your area.
Before we get started it's important to know the difference between the parts of Medicare and Medicare Supplement Plan Letters.