A Health Savings Account or HSA is a medical savings account that is attached to a high deductible health insurance plan. It can be a savvy way to save money by reducing your overall medical spending. It can also have compelling retirement savings benefits. Money can be deferred into an HSA account on a pre-tax…
Medicare and Health Insurance News, Information and Guidance
Tis the season… No, it is not quite time to decide whether you’ll say Happy Holidays, Merry Christmas, Bah Humbug or none of the above. It does, however, involve shopping! The 2018 Medicare Open Enrollment season is upon us and will last from from Oct. 15 to Dec. 7. Now is the time to to…
The recent nationwide debate about whether or not Medicaid should continue to receive funding should have had special resonance for people of retirement age. Here are 9 things you might not know about Medicaid and your chances of needing it in the future: 1. You Have a High Percentage Chance of Winding Up on Medicaid…
Knowing you are eligible for Medicare at age 65 may give you some peace of mind about retirement health care costs, but you may be surprised to find out that you’ll still be paying a lot out of pocket. While Medicare premiums are fairly predictable, tests and procedures and that aren’t covered, unexpected health crises,…
Medicare is the de facto healthcare for most retirees. You are eligible when you turn 65. While most people like the program, it is quite complex and everything from baseline premiums to supplemental coverage and other details can change from year to year. The changes made thus far offer somewhat good news to retirees. However,…
Medicare Open Enrollment 2016: Medicare open enrollment is the time period when you can buy into or switch your Medicare Advantage and/or Part D coverage. This open enrollment period goes from Oct. 15 through Dec. 7. Some might argue that enrolling in Medicare is off the charts painful… It can be so hard to understand……
What are the two most expensive and important things in retirement? Housing and medical costs. As such, you probably want to review this list of the best states for health care. In 2014, health spending accounted for 17.5% of the national GDP, according to the Centers for Medicare & Medicaid Services. Even more, by 2025,…
How much will Medicare cost in 2018? If you have wealth, your Medicare costs could rise rapidly. Paying for your health is going to be more expensive by 2018. Congress has decided that the wealthiest 5% of Medicare recipients should pay more for their health coverage. What Are the Current Medicare Costs? The annual baseline…
Retirement planning is hard. You have to account for 20-30 years of expenses that are difficult to predict and make sure you have enough money to pay for them. How to plan for healthcare costs in retirement is particularly challenging. These costs continue to rise and it is difficult to know what kind of care…
The Big Takeaways… Using spousal health benefits can save you from heavy premiums, and often guarantees high quality coverage during your gap into Medicare eligibility. Certain programs such as the Affordable Care Act or COBRA can be good strategies if you need to self insure, as well as using a Health Savings Account. Try the…
