Medicare

How to Save Money on Prescriptions

The cost of prescriptions can be a large part of our budgets these days. While the rising cost of medicines can be a worry for seniors there are ways available to help with the cost. We can take a few easy steps to learn what is available to help us and how to ease the everyday cost of prescriptions. One of the first steps we can do is to have an open dialog with our doctors. They may have samples or coupons available for brand name drugs. You may want to ask if she feels that a generic option would work for your new medication. These questions may offer the possibility of helping with some of your cost. The next biggest single cost-saver? During Medicare Fall Open Enrollment or signing up for Medicare for the first time, you'll want to make a list of all your medications. Carefully work with your agent to compare plans available in your area. Before reviewing with your agent, you need to understand what your options are for prescription plans. Beneficiaries can either get prescription drug benefits through a private insurance plan under what is known as a stand-alone Medicare Prescription Drug Plan, or part D. If you chose this option it will work with Original Medicare (part A&B), a supplement plan from an insurance company or with your veteran benefits. They can also get prescription coverage bundled with a Medicare Advantage plan. These plans are a type of Medicare health plan offered by a [Read More...]

How to Save Money on Prescriptions2020-10-01T08:40:46-04:00

Are You Ready to Turn 65?

So, the big day is coming, and you are turning 65.  You may be planning a special celebration or maybe a long-awaited dream trip.  Whatever your birthday plans include there are some practical things to consider that will impact your future finances and healthcare tremendously.  While some of these decisions can be put off that option may cause penalties and higher costs.  So, let’s get some things off your to-do list and move on to celebrating! Determine your working status-Your first decision is whether you are still going to continue working or retire.  Did you know that continuing to work can affect your retirement benefits?  Now is the time you should talk to your Human Resources or Benefits department to understand your company’s policies.  Gather all this information and follow up by meeting with a financial professional to help guide you with all the aspects of timing your retirement and Social Security payments. Plan your Social Security benefits claim. Full retirement age is dependent on your birth year and is when you can claim your full Social Security retirement benefits. Some people claim reduced benefits as early as age 62, while others wait until after full retirement age (up to age 70) to claim higher benefits. Deciding what works best for you, your dependents, and your survivors takes a little planning. Enroll for Medicare Part A and B-Almost everyone who is 65 and older is eligible for  Medicare Part A (inpatient care) and Medicare Part B (outpatient care).  You can sign up as [Read More...]

Are You Ready to Turn 65?2020-10-05T11:16:02-04:00
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