It’s not uncommon for seniors to rely solely on their Social Security benefits after they retire. Unfortunately, according to the AARP, the average monthly benefit for retirees is $1,666.49. No matter where you live, it can be tough to make that amount cover all your expenses! However, by being smart, thrifty and a little bit […]
Coverage Gaps and How to Cover Them
Many assume that signing up for Original Medicare (Parts A and B) will cover all they need, but that is not always the case. Both Part A and Part B have coverage gaps, which means you may end up paying more for your expenses than you might expect. What do Medicare Part A and B […]
IEP, AEP, OEP and SEP
With Medicare, it’s good to keep your eye on the calendar. There are very specific time periods when you can enroll in Medicare or a Medicare plan, change plans or disenroll: Your Initial Enrollment Period (IEP), Medicare’s Annual Enrollment Period (AEP), the Medicare Advantage Open Enrollment Period (OEP) and during a Special Enrollment Period (SEP). […]
What is Indexed Universal Life insurance?
Life insurance can seem like a tricky topic, but it’s something that can help you and your family when life changes. One type of life insurance you might hear about is Indexed Universal Life (IUL) insurance. Let’s break it down in a way that makes sense, even if you’re just learning about it! What Is Indexed […]
The Difference Between Medicare Supplement and Medicare Advantage
Original Medicare, which includes both Medicare Part A and Part B, covers a range of healthcare services for seniors. However, Original Medicare is not always enough to protect people from the rising costs of healthcare. To access more benefits or to reduce out-of-pocket costs for healthcare, seniors may decide to enroll in a plan that […]
6 Things To Know About Medicare Enrollment
There is a lot to know about Medicare. Even the basics can seem a little overwhelming, especially when you’re first enrolling into Medicare or a Medicare plan. Whether you’re signing up at age 65 or switching plans during an enrollment period, here are six important things to know about enrolling into Medicare. 1: Medicare isn’t […]
How to Choose the Right Supplement Plan for You
Once you’ve enrolled in Medicare Part A and Part B, you may want to consider whether you’d benefit from additional coverage. Medicare Supplement Insurance, also known as Medigap, is a popular form of coverage that helps reduce your out-of-pocket costs for Medicare. There are 10 different Medigap plans available, each with its own set of […]
Medicare and Long-Term Care: Understanding Your Options
It’s one of the things no one wants to think about, but eventually most people will need some form of long-term care. And while that might seem daunting, it is important to understand long-term care options and what you can do to prepare for long-term care. Does Medicare Cover Long-term Care? Medicare does not cover […]
All About Medicare Advantage
During your search for your right coverage, you may have come across Medicare Advantage. Otherwise known as “Medicare Part C,” these plans are a bundled alternative to Original Medicare that often include extra benefits. Medicare Advantage vs. Original Medicare Coverage Offered by private companies, Medicare Advantage plans provide similar coverage to Original Medicare Part A […]
How the Inflation Reduction Act Affects Medicare Recipients: The 5-Year Plan
The Inflation Reduction Act was signed into law in 2022 and set out goals for addressing health, tax and climate concerns. One of the biggest areas they are targeting is the growing issue of inflated prescription costs and particularly how those costs are affecting Medicare users. This legislation seeks to help regulate future prescription costs […]