Sun, 6 July 2014
“How do I understand Social Security and Medicare?” This is a question I hear most often from people planning for retirement. It's understandable. Social Security and Medicare benefits will play a big part in your retirement.
In this episode we begin to unwrap both and begin to build a framework for you make decisions about your Social Security and Medicare benefits. I say we “begin” intentionally. These are BIG subjects. In future episodes, we’ll continue to improve your understanding of your Social Security and Medicare.
Retirement Tip of the Week
I suggest you visit and explore our government's Social Security website. It is an easy to navigate, useful resource to help you manage your Social Security benefits. YES, I just said “useful” and “government” in the same sentence. They did a great job designing the site.
You can easily:
Unwrapping Medicare: The Basics
This week I talk with Misty Kimbrough, a local insurance expert about the basics of Medicare. She outlines the basic parts of Medicare and the 3 most common missteps people make when planning medicare benefits for retirement.
Part A “major medical” coverage covering health care costs at hospitals
Part B Covers the costs of health care outside of a hospital. Doctor visits, outpatient procedures, x-lab test and related services
Medicare Supplements (Medigap)
Part C Medicare Advantage Plan
Part D Prescription Drug Plan
3 Common Medicare Missteps