MAKING SENSE OF MEDICARE

One of the last stops on your retirement income planning journey is making a Medicare choice. Confused by Medicare? You are not alone. There are many ways to structure your Medicare coverage so making sure you are signing up for the right one is your greatest challenges. Here are a few things you need to know to begin understanding this complex government program.

  • First thing to know is Medicare is mandatory if you are receiving SS benefits. Next, understand that Medicare is means tested, meaning the greater your income, the more you will pay in Medicare premiums, both Part B and D premiums.

  • You have two distinct ways to get your Medicare coverage and many options that can be added to your coverage. You need to understand the comparisons and which one is right for you. Taking your time to review this will save you the anxiety later on that you made the right choice.

  • You have three months before your 65th birthday to enroll in a Medicare Plan and have coverage begin by your birth month. You want to make sure you have all the information you need to make the right decision for you.

  • Most people have the mistaken idea that Medicare will cover them for Long Term Care only to find out it will not. Long Term Care is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods of time.  

Ready to take action in planning for your retirement?
Contact Mark Hupe today and setup a free retirement consultation today!