Category: Medicare
“She recently enrolled in traditional (Parts A, B, and D) Medicare and was hit with huge Part B and Part D monthly premiums. She had no idea why it was so high. After many letters, calls, and meetings with Social Security, she still had no idea.” A 68-year-old woman knew that she had to sign […]
“In case you didn’t see the news, those on Social Security won’t be getting a very generous raise this coming year.” The annual Cost of Living Adjustment, aka COLA, for 2020, is a smidge of an increase: 1.6%. That’s only slightly more than half of the 2.8% COLA for 2019. For the average beneficiary that […]
“Contemplation of retirement can be both exciting and intimidating. Obviously, planning for the beginning of retirement should start early.” While you may be thinking about retirement for a long time, with visions of tropical beaches or grand trips overseas, when the date starts to get closer, it’s time for some real analysis and planning, says […]
“The fact many people need both types of services, home care and home health, contributes to the confusion.” Many people use the terms “home care” and “home health” interchangeably, which can cause confusion when you try to find funding for these services. This article will try to help you understand the difference between home health […]
A checklist can help you stay on top of preparing for those later days. You work long and hard during your life and those retirement days are finally approaching. Unfortunately, some are prepared for those days and some are not, according to CNBC in “Nearing retirement? This checklist can help you make sure you’re financially […]
While it is taxable on withdrawal, the contributions lower your taxable income. It comes as a surprise to some retirees that the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower taxable income, according to Market Watch in “How 401(k) savers can avoid a […]
On average, men need help for 2.2 years, while women need help for 3.7 years. Many people will end up needing assistance to care for themselves as they become elderly and that help may not be provided by their children. It might be wise to look into long term care costs now, according to The […]
A “cost of care” survey reveals high annual expenditures for care. People are often unaware of the fact that health insurance and Medicare will pay little, if any, of the costs of long-term care, according to the New Hampshire Business Review in “The dilemma of long-term care“. Some families may try to care for a […]
Once you’re on Medicare, you can’t have it both ways. Many people find it useful to have a Health Savings Account. However, they can run into difficulties when they enter the world of Social Security, according to CNBC in “Near retirement and have a health savings account? Beware of snags when claiming Social Security“. As […]
Not enough savings and too much spending? You move along through life and perhaps think about retirement, but some people do not plan retirement, until they are in their mid 50s. The result? Mistakes have already been made, according to The Street in “Avoid These Big Mistakes in Your Retirement Planning“. The biggest, most obvious […]
