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Medicare/Medigap Insurance

Found 107 Articles.
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How Medicare is Changing, and Key Medicare Mistakes to Avoid

September 9, 2022

Changes are scheduled for Medicare. Some of them are small, but some of them could significantly affect your out-of-pocket medical spending. In the latest Retirement Watch Spotlight Series, I review the coming changes and others that are proposed. I discuss the changes made by the recent Inflation Reduction Act. I also analyze recent reforms implemented […]

Medicare Is Updated for the Coronavirus Pandemic

April 28, 2020

Medicare expanded its coverage in response to the coronavirus pandemic. Telehealth services are the major additional benefit under Medicare. These services enable beneficiaries to consult with doctors and receive some types of treatment without having to leave their homes and visit medical facilities. Telehealth services can be delivered through telephone, online via computers or other […]

How to Avoid the Big Surprise Medicare Gaps

March 31, 2020

Most people don’t know there’s a penalty for enrolling in Medicare late. While Medicare is optional, if you don’t enroll in it when you’re first eligible, enrolling in it later will cost you for the rest of your life. The Medicare enrollment deadline apparently isn’t well-known, because the number of people paying the penalty for […]

Act Now To Avoid Higher Medicare Premiums

October 28, 2019

You could pay almost four times the regular Medicare premium in two years if you don’t take action soon. Back in 2003, Congress began means-testing Medicare by putting in place the Medicare premium surtax or surcharge. It’s known formally as IR-MAA, Income-Related Monthly Adjustment Amount. IRMAA is one of the Stealth Taxes I warn retirees […]

10 Medicare Questions Every Retiree and Pre-Retiree Should Know How to Answer

October 11, 2019

Currently, the greatest fear of most retirement-age Americans is how to pay their retirement medical expenses. This is not surprising. We are bombarded with estimates that people need to save $300,000 just to pay their medical fees after they retire. It also isn’t hard to find stories of retirees filing for bankruptcy primarily because of […]

Original Medicare vs. Medicare Advantage: Which is Right For You?

September 17, 2019

One of the most controversial aspects of Medicare is the ability to choose between original Medicare and Medicare Advantage. Some of the controversy is ideological, because some people are philosophically inclined to either favor or oppose Advantage plans. But much of the controversy exists because the right choice depends a lot on individual circumstances and […]

Estate Planning

Warning: Your Children May Have To Pay for Your Long-Term Care

December 31, 2018

What’s the cost of not planning for your long-term care? Your estate or your children might be required to pay for it. Some little-used laws make this situation possible. Use of these laws increased the last few years, and they are likely to be used more in the future. Either the government or non-government providers of […]

Don’t Overpay For Medigap Coverage

November 20, 2018

Too many original Medicare beneficiaries pay much higher premiums than they should for Medicare Supplement, or Medigap, coverage. It’s important to have a plan to pay for the gaps in original Medicare coverage, as I discussed in last month’s issue. The best choice often is to buy a Medigap policy, which is a two-step process. […]

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