For people on Medicare, one can easily spend an additional $5,000 a year on ongoing health and insurance costs on items not covered. Below are costs you may encounter and how to handle the payment.
As many of our clients reach retirement, they begin to have questions around Medicare coverage. Since the costs associated with health care are a large factor in a financial plan, it becomes increasingly important to understand the details around Medicare coverage the closer to the big "retirement date." Here is a basic breakdown of Medicare: Parts A,B,C and D.
Beginning November 15, 2014, open enrollment will be available in state-based and federal Health Insurance Exchanges and Small Business Health Options Programs (SHOPs).
Health care costs are extremely important to take into consideration with your financial plan. As the baby boomer population is aging, these factors are becoming a higher priority in each family. Making sure the coverage you have will be sufficient as you age is essential in a successful financial plan and ultimately, retirement.
T.S. Eliot may have thought, “April is the cruelest month,” but here at Wealth Legacy Institute we’re excited to celebrate Financial Literacy Awareness Month!
When can I retire? How much will I need saved? What will be the tax impact of living off my retirement savings? How can I reduce my portfolio risk? Will my Social Security benefit be impacted by retirement distributions? Do I have the right investment allocation for my comfort level of risk?
The magic date: March 31, 2014.