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Medicare.gov
Trusted Senior Consultants
Medicare.gov
The Official U.S. Government Site for Medicare.
Wealth Watch
Trusted Senior Consultants
Medicare.gov
The Convergence of Retirement Health Care & Financial Planning. Educating financial advisors and consumers on health care challenges during retirement, equipping them to find solutions.
Trusted Senior Consultants
Trusted Senior Consultants
Trusted Senior Consultants
We can enhance your benefits and save you money on your Medicare insurance and prescription drug plan!
2019 Medicare & You Guide
Medicare Premiums: Rules For Higher-Income Beneficiaries
Trusted Senior Consultants
THE OFFICIAL U.S. GOVERNMENT MEDICARE HANDBOOK
Medicare Premiums: Rules For Higher-Income Beneficiaries
Medicare Premiums: Rules For Higher-Income Beneficiaries
Medicare Premiums: Rules For Higher-Income Beneficiaries
If you have higher income, the law requires an adjustment to your monthly Medicare Part B (medical insurance) and Medicare prescription drug coverage premiums.
New Medicare Cards!
Medicare Premiums: Rules For Higher-Income Beneficiaries
Medicare Premiums: Rules For Higher-Income Beneficiaries
Your new card has a new Medicare Number that's unique to you, instead of your Social Security Number. This will help to protect your identity.
Medicare Costs-at-a-Glance (2019)
Medicare Costs-at-a-Glance (2019)
Medicare Costs-at-a-Glance (2019)
Listed are basic costs for people with Medicare. If you want to see and compare costs for specific health care plans, visit the Medicare Plan Finder.
For specific cost information (like whether you've met your deductible, how much you'll pay for an item or service you got, or the status of a claim), visit MyMedicare.gov.
Medicare.gov Plan Finder
Medicare Costs-at-a-Glance (2019)
Medicare Costs-at-a-Glance (2019)
Start here to view Medicare Advantage plans (like an HMO or PPO), or Medicare Prescription Drug Plans (Part D).
OR
You can use the easy to use Medicareful.com web tool.
Avoid the Pitfalls: Part B late enrollment penalty.
Avoid the Pitfalls: Part B late enrollment penalty.
Avoid the Pitfalls: Part B late enrollment penalty.
In most cases, if you don't sign up for Part B when you're first eligible, you'll have to pay a late enrollment penalty. You'll have to pay this penalty for as long as you have Part B.
Avoid the Pitfalls: Part D late enrollment penalty.
Avoid the Pitfalls: Part B late enrollment penalty.
Avoid the Pitfalls: Part B late enrollment penalty.
How do I know if I owe a penalty?
The late enrollment penalty is an amount added to your Medicare Part D monthly premium.
After you join a Medicare drug plan, the plan will tell you if you owe a penalty and what your premium will be.
In general, you'll have to pay this penalty for as long as you have a Medicare drug plan.
Articles & Research!
Medicare and the high cost of prescription drugs (by Mary Beth Franklin--Feb 26, 2019)
Medicare and the high cost of prescription drugs (by Mary Beth Franklin--Feb 26, 2019)
Medicare and the high cost of prescription drugs (by Mary Beth Franklin--Feb 26, 2019)
There is no annual limit on out-of-pocket costs under Medicare Part D
"My medical costs have far exceeded what I ever thought I would need to spend at my age," said Mr. Sorkin, who is 71 and still working part time. "I am fortunate, but how many seniors can afford this expense?"
Planning potholes and banana peels (by Steve Gresham--Feb 4, 2019)
Medicare and the high cost of prescription drugs (by Mary Beth Franklin--Feb 26, 2019)
Medicare and the high cost of prescription drugs (by Mary Beth Franklin--Feb 26, 2019)
Market volatility can pave the way for more important conversations than those about beating the market and reducing your fees
There's a growing hole in planning between retirement plans and Medicare. Funding the out-of-pocket costs of health care is a knowledge gap in part because many advisers lack good tools to estimate the shortfall. A staggering 80% to 85% of financial advisers do not provide full financial planning, making gaps like this one a huge area of risk.
The black hole of financial planning: Health care costs (by Mary Beth Franklin--June 26, 2018)
The black hole of financial planning: Health care costs (by Mary Beth Franklin--June 26, 2018)
The black hole of financial planning: Health care costs (by Mary Beth Franklin--June 26, 2018)
Affluent clients are confident about retirement plans, but not medical expenses
The second most commonly cited reason for not discussing health care costs with an adviser was a perception that advisers lack adequate knowledge on the subject. Nearly 40% of older adults who work with a financial adviser agreed with the statement: "Financial advisers do not know enough about health care costs," according to the survey.
Medicare enrollment: Prepare or pay the price (by Mary Beth Franklin--Nov 24, 2018)
The black hole of financial planning: Health care costs (by Mary Beth Franklin--June 26, 2018)
The black hole of financial planning: Health care costs (by Mary Beth Franklin--June 26, 2018)
With rising health-care costs threatening to derail carefully constructed retirement plans, advisers should ensure clients successfully navigate the process of signing up for Medicare to avoid stiff penalties
Late-enrollment penalties
If your client misses their initial enrollment period, they also will incur a delayed enrollment penalty of 10% for every 12 full months they were eligible to enroll in Medicare Part B but did not. And the penalty continues for as long as they have Medicare Part B.
So if your client mistakenly assumed their retiree health plan or COBRA coverage would replace Medicare and signed up for Medicare Part B two years after their initial enrollment period, they would pay a delayed enrollment penalty of 20% of the standard Part B premium every month FOR THE REST OF THEIR LIFE