Results for "medicare"

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Future retirees often overestimate Social Security benefits

May 8, 2019

Chalk it up to wishful thinking, or merely misinformation, but many future retirees overestimate how much they are likely to receive from Social Security, according to an annual survey released Wednesday by the Nationwide Retirement Institute....

Hints about Social Security COLA and Medicare premiums in 2020

May 6, 2019

Buried in the recent Social Security and Medicare Trustees' Report were some hints about next year's projected cost-of-living adjustments for Social Security benefits and likely increases in Medicare premiums for 2020. The fact that the Medicare...

Social Security funding outlook improves slightly

April 22, 2019

The long-term funding outlook for Social Security's retirement and survivor benefit programs has improved slightly, while the timing of the depletion of the disability program's reserves was extended by 20 years, according to the 2019 trustees'...

The cost of putting off enrolling in a Medicare drug plan

April 15, 2019

I heard from a financial adviser in Florida recently who asked if there was anything her clients, a married couple ages 69 and 70, could do to avoid paying a delayed enrollment penalty for their new Medicare Part D prescription drug plan. "They...

Choosing between a retroactive lump sum and a bigger monthly Social Security benefit

March 19, 2019

Jim Perry, a financial adviser with Edward Jones in Coral Gables, Fla., was surprised to learn that retirees who claim Social Security benefits after their full retirement age are eligible for up to six months of retroactive benefits paid in...

Fidelity says retirees can expect to spend $285,000 on health care

April 2, 2019

A 65-year old couple retiring this year can expect to spend $285,000 on health care and medical expenses throughout retirement, according to an annual health care study done by Fidelity. For individuals, the estimate is $150,000 for women and...

Medicare high-income surcharges to increase in 2019

November 20, 2018

Each winter, the calendar is filled with predictable holiday milestones: Thanksgiving, Black Friday, Cyber Monday, Giving Tuesday and for high-income clients, Irritating IRMAA Day. If you're not familiar with that last one, you will be when...

Advisers' guide to helping clients with open enrollment

November 24, 2018

Financial advisers should urge their clients who are already enrolled in Medicare to re-shop their Medicare coverage during open enrollment season, which runs from Oct. 15 through Dec. 7 each year for coverage beginning the following Jan. 1....

Last chance for clients to save on drug costs

December 1, 2017

There are only a few shopping days left—and I'm not talking about storming the local mall or clicking your way through Amazon.com to fulfill your loved ones' holiday wish list. I'm referring to something that can save older Americans significant...

How to take the Medi-scare out of retiree healthcare costs

October 23, 2017

I don't think it's a coincidence that Halloween and Medicare open enrollment season occur at about the same time each year. Although some people like to celebrate Halloween by dressing up as ghosts and zombies, for seniors, no costumes are needed...

How to appeal higher Medicare premiums

September 6, 2017

It's time to prepare higher-income clients for a nasty surprise that awaits some of them this fall. Notices of monthly surcharges involving both Medicare Part B and Part D premiums in 2018 will be sent to affected Medicare enrollees in October....

Courses available to become a Medicare pro

April 12, 2017

Like it or not, clients near retirement often have burning questions about when to enroll in Medicare, particularly if they are still working. If they are enrolled in Medicare already, they may have questions about their premiums. Wouldn't it...

Medicare and the high cost of prescription drugs

February 26, 2019

Howard Sorkin, a financial adviser in Chicago, is on a mission to educate clients and other advisers about the high cost of prescription drugs for some Medicare beneficiaries. People requiring specialty drugs for cancer, multiple sclerosis,...

Medicare decisions get personal

January 13, 2017

This is my latest dispatch from the retirement front, an occasional series of articles where I chronicle my personal retirement decisions that I hope can offer some insights for advisers working with retired and soon-to-be-retired clients. This...

What Medicare changes will mean for clients in 2017

December 14, 2016

Recently, I wrote about the estimated 22% escalation in Medicare Part B premiums and Parts B and D high-income surcharges. Contrary to what the Medicare Trustees projected, the Centers for Medicare and Medicaid Services (CMS) approved a 10%...

How to optimize Medicare for those who have served in the military

June 7, 2016

In honor of those who have served in the military, including active duty and veterans, I am focusing this column on Medicare and the military. Whether active duty, retired military or veteran, there are important points of intersection and interaction...

Hedging against triple whammy of Medicare price hikes

October 18, 2015

The price tag for Medicare is expected to swell dramatically Jan. 1 as the result of several factors. It's expected that: •Medicare Part D premiums will grow 8% on average and by as much as 20% for some of the most popular Medicare prescription...

How to help clients minimize the sting of 2016 Medicare premium rates

November 13, 2015

The Centers for Medicare & Medicaid Services (CMS) announced a host of new Medicare costs for 2016. Among them were the highly anticipated Medicare Part B 2016 premiums, Income Related Monthly Adjustment Amounts (IRMAA), deductible and $3 monthly...

Why seniors need travel insurance

November 15, 2018

When your newly retired clients chat about their plans for an upcoming dream vacation abroad, are you prepared to raise the topic of travel insurance? While younger clients might dismiss the added expense as unnecessary, older clients should...

Social Security benefits lost 34% of their buying power since 2000

June 21, 2018

Social Security benefits have lost more than one-third of their buying power since 2000, according to a new study released Thursday by The Senior Citizens League, a nonpartisan advocacy group. "This is the biggest loss of buying power recorded...

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