When individuals retire expecting their savings to last the rest of their lifetime, they are often surprised by the overwhelming effect that taxes can have on their resources. Being aware of your timing and penalties if you don’t act on time is critical for a healthy and wealthy retirement. Claiming Your Social Security Benefits Early […]
If you have a Medicare supplement plan, you may face rate increases at some point and consider changing plans. If you’re satisfied with your current plan, you should typically stay with your plan for as long as the coverage and insurance company continue to meet your needs. If your Medicare supplement plan is not meeting your […]
TRICARE For Life (TFL) is Medicare-wraparound coverage for TRICARE beneficiaries who have Medicare Part A and Medicare Part B, regardless of age or where you live. Let’s dive into TRICARE for Life and Medicare so you can understand what kind of coverage you will receive. With TFL, you can visit: Medicare participating providers Medicare non-participating […]
We’re all victim to the summer travel bug around here, so we thought we’d take a break from our usual Medicare and health discussions to review retirement destinations. Where should you retire? Which destination is the best fit for you? What activities do you want in a retirement location? It’s important to understand what characteristics are important […]
Pre-existing conditions are medical conditions that you had prior to the date your new health care benefits started. With a Medicare supplement specifically, pre-existing conditions are defined as conditions you had before your Medicare supplement start date. With Original Medicare, you’ll receive all Medicare benefits regardless of any pre-existing conditions. However, if you’re considering a supplement, you’ll […]
Medicare Coverage of Surgery Different parts of Original Medicare will cover different parts of your surgery costs. Medicare Part A covers your hospital expenses, including the daily room cost and services, as well as the services of those physicians, nurses, and other providers. Medicare Part B covers any medically necessary treatments associated with the surgery. Lastly, Medicare […]
Did you know that Medicare doesn’t cover everything? In fact, it only covers 80% of Medicare-approved expenses. You will be left responsible for the remaining 20%, as well as deductibles and copays. Because of this, many Medicare beneficiaries purchase additional insurance, like a Medicare supplement or Medicare Advantage plan, to bridge the gap that exists […]
Many Americans have tax-free savings accounts, also known as HSAs. These are accounts in which you can contribute to and withdraw money from for certain medical expenses, such as out-of-pocket medical, dental and vision. The funds deposited into these accounts aren’t subject to federal income tax, and the accounts themselves aren’t taxed as long as […]
Medicare’s coverage of care when you travel depends on where you travel and how you receive your Medicare benefits. While never intended, some will find themselves in need of health care services when they are traveling. To avoid any potential stress and confusion, here are some things you need to know before taking off on your […]
Mark Farrah and Associates releases an annual report on Medicare supplement trends. Below, we have summarized the information for you to provide a brief update on the Medicare supplement market. The Medicare Supplement Market As of December 31, 2016, Medicare supplement enrollment was nearly 12.6 million, which is 6% growth over the end of 2015. […]
