Life-Changing Events That Reduce Your Medicare Premium (Apr 27, 2020)

If you are what Social Security considers a “higher-income beneficiary,” you pay more for Medicare Part B, the health insurance portion of Medicare, and Part D, prescription drug coverage. The Social Security Administration (SSA) uses the most recent Federal tax return provided by the IRS to make this determination, but that might reflect your income from two years prior. If you have experienced a life-changing event that has caused an income decrease, you can request that Social Security revisit its decision.

 

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Age 65 – Medicare Enrollment (Jan 22, 2020)

If you’re approaching age 65, now’s the time to consider your Medicare enrollment. Medicare is the Federal health insurance program for those aged 65 and older (plus other eligible adults). With healthcare costs listed as one of the top three financial worries for most Americans [1], familiarizing yourself with the Medicare program can help maximize your entitlements. SageVest Wealth Management outlines the basics of Medicare enrollment at age 65.

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Medicare Open Enrollment And Your Medicare Coverage (Oct 7, 2019)

The Medicare open enrollment period runs from October 15 through December 7 every year. This is the best time to review your Medicare coverage, relative to your health and your wealth. It’s especially important if you’ve recently received a major health diagnosis, your medications have changed, you’ve moved interstate, or your financial situation is different. Here’s what to think about when evaluating your Medicare coverage during this year’s Medicare open enrollment period.

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Top 10 Retirement Myths (Feb 27, 2018)

You’ve probably heard some retirement myths, or read them online. While quick-fix retirement myths can be tempting, it’s important to evaluate their accuracy relative to your personal finances. Furthermore, many retirement myths are decades old, when lifestyles and retirement were far different than today.

Whether you’re a Millennial just starting out, an individual at the height of your career, or you’ve already retired, it’s vital to make the most of your retirement savings. This begins with establishing a personalized retirement plan – and reconsidering the validity of the following retirement myths.

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What You Need To Know About Long-Term Care Insurance (Oct 10, 2017)

Long-term care refers to specialized, ongoing services and support that help you live as independently as possible on a daily basis. With healthier lifestyles and longer lifespans, you’re likely to need some level of long-term care during your retirement years. However, long-term care may also be necessary at other times of life, following injury or illness.

A long-term care insurance policy can help cover the costs associated with long-term care. Increasing premiums and changing requirements – including upcoming changes that are of particular importance to women – mean that now might be the best time to incorporate a long-tem care policy into your wealth planning.

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Managing Healthcare Costs In Retirement (Apr 21, 2017)

The cost of healthcare is a common concern for most Americans. For retirees, it’s often their number one financial priority. A combination of quickly rising health insurance costs and the potential for increased medical needs as you age can make planning for healthcare in retirement complex, unpredictable, and therefore, worrisome.

However, there are actions you can take to mitigate your risks, minimize your healthcare costs, and help you enjoy a happy and healthy retirement.

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Time For Your Medicare Check-Up (Oct 11, 2016)

The Medicare Annual Enrollment Period starts on October 15 and runs through December 7. That makes now the perfect time for retirees to review and, if warranted, change your policy coverage.

Taking the time to examine your Medicare options each year is a wise move for both your health and your wealth. Evaluating your coverage can highlight policy and premium changes that may otherwise prove costly in relation to your current health needs. SageVest Wealth Management offers some recommendations to help you minimize your healthcare costs during retirement.

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Medicare Open Enrollment Period Begins October 1 (Sep 15, 2013)

Congress created Medicare in 1965. In 2010, Medicare provided health care to more than 48 million Americans. On average, Medicare coverage covers about half of health care costs for enrollees. The Medicare open enrollment period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year Medicare plans typically change what they cost and cover. In addition, your health-care needs may have changed over the past year. The open enrollment period is your opportunity to switch Medicare health and prescription drug plans to better suit your needs.

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Social Security and Medicare – Looking Ahead (Jul 26, 2012)

The outlook for Social Security and Medicare are of growing importance for our economy.

The first baby boomers became eligible for Social Security in 2008 (at age 62) and for Medicare just last year. Costs of these programs currently represent approximately 8.7% of GDP and 56% of IRS tax receipts. By 2033, those figures are projected to climb to 12.5% of GDP and 81% of current tax receipts.

The following Barron’s reprint discusses a number of considerations, including how long-term impacts could affect your future benefits.

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The Transition Into Retirement (Feb 24, 2012)

Are you ready to retire? The question is actually more complicated than it first appears, because it demands consideration on two levels. First, there’s the emotional component: Are you ready to enter a new phase of life? Do you have a plan for what you would like to accomplish or do in retirement? Have you thought through both the good and bad aspects of transitioning into retirement? Second, there’s the financial component: Can you afford to retire? Will your finances support the retirement lifestyle that you want? Do you have a retirement income plan in place?

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