Health care is sure to be one of the focal points of the 2020 presidential election. While Trump is proposing substantial cuts to Medicare, Democrats are promoting variations on “Medicare for all” ranging from allowing persons 50 and older to buy into Medicare with annual premiums to more extensive plans to promote universal access to…
Category: medicare
Tax cuts = Massive federal deficit
“The federal government spent $310 billion more than it took in during the first four months of the new fiscal year, a 77 percent jump from the same period a year ago” and the tax cuts are primarily to blame according to the Washington Post. How many times have you heard politicians say that budgets…
Useful Reference & Planning Guides: 2018 Taxes, Long term care, Social Security, & Medicare
Manning & Napier produced four 2-page guides to the latest developments in federal income taxes, long term care, Social Security, & medicare that are succinct and easy to understand. Check out: Tax Reference Guide Our new tax guide has everything you need to know about tax reform, and changes to contribution limits and tax rates.…
Medicare Primer
Most people should sign up for Medicare during the three months before their 65th birthday to avoid costly penalties, even if you are still working and covered by health insurance through your employer. Failure to sign up at the right time can result in a financial penalty for the rest of your life (to discourage…
A great tutorial on Medicare
Kiplinger’s just published an excellent article “FAQs about Medicare” by Kimberly Langford. It is mandatory reading for persons approaching age 65 as well as a great refresher for those already on Medicare. Check out: http://www.kiplinger.com/article/insurance/T027-C000-S002-faqs-about-medicare.htmlFor a much more detailed explanation of the complexities of Medicare I highly recommend the book Medicare Demystified: A physician helps…
Understanding Medicare Choices
Medicare is a wonderful health insurance program for Americans 65 and older but making wise choices is a challenge. A great resource for helping choose between traditional medicare and Medicare Advantage plans is “making Medicare work for you” by Katie young and Jessica Dickler. Whether you are new to medicare or long-time user, check out…
Medicare Part D
“Delaying enrollment in Medicare Part D can be costly, even for people with negligible drug costs and incomes high enough to trigger a surcharge, writes Philip Moeller in this Medicare and Social Security advice column.” Read: My meds are cheap. Do I really need a Medicare Part D drug plan? http://www.pbs.org/newshour/making-sense/meds-cheap-really-need-medicare-part-d-drug-plan/ Source: Financial Planning for…
Medicare Demystified book
I strongly recommend the book Medicare Demystified (2014) by Ronald Kahan, MD for both Medicare eligible adults and their adult children who may be helping them navigate their choices. As a recent Medicare participant, I had read a lot of info on the internet and yet was still quite overwhelmed by my options. Finally I…
Get help with Medicare Enrollment
The initial decision on Medicare enrollment can be very confusing. While there is a plethora of resources, plowing through multiple websites and articles left me, a personal finance professional, very confused. The Squared Away Blog offers help by providing links to numerous resources for persons signing up for the first time or renewing their enrollment.…