Are You Choosing Coinsurance or Copay?

Copays are not the enemy. Here’s the bottom line – if you are receiving Medicare benefits, you either pay a coinsurance or a copay. It is totally up to you which one you choose, but before you do, here is something you should probably know. What is coinsurance? A coinsurance is a portion of your medical bill that you are responsible for – the one that you get a bill for in the mail. Coinsurance is calculated as a percentage of your

Two Thirds of Americans Don’t Plan for Healthcare in Retirement

According to Social Security Administration, every day, approximately 10,000 baby boomers in the United States hit their retirement age. Unfortunately, many are unprepared for retirement, lacking sufficient retirement savings or a retirement budget. While many soon-to-be retirees will face financial issues, there’s one issue that stands out for the majority of baby boomers … The cost of Healthcare! When surveyed, 65% of non-retired Americans ages 50 and over stated they had no plan at all to handle unforeseen health-related expenses. No plan is

Medicare and Diabetes

Diabetes is a national phenomenon and an epidemic by right. It is also a sweeping health issue among seniors in the US, with 25% of people ages 65 and older suffering from diabetes. This means that about 12 million seniors are suffering from this condition. This is not a disease to be taken lightly since the more aged a person with diabetes gets, the more prone they are to having complications from the illness. According to the World Health Organization,

How To Alleviate Health Deficits Caused by Poverty In Seniors Using Medicare Benefits

How Poverty Affects Older Adults Believe it or not, poverty has been reported as a health issue amongst seniors, with 45 percent of adults ages 65 and older being considered impoverished, falling below the poverty level. This is according to a 2015 Kaiser report. The main contributing factors to this number include the availability of financial resources, financial liabilities such as cost of living, the demand for benefits like food stamps and Medicaid, and medical expenses. The report states that older

Getting Started With Medicare

Choosing the best Medicare advantage plan can become a long and excruciating process without having the right team of experts to support you in your decision-making. It may take you less than an hour to pick a Medicare Advantage plan, but the decision you make determines your access to healthcare services and the cost associated with those services. Many Medicare beneficiaries don’t understand this concept because only a few take the time to compare their options. We have heard too

Wait, Did or Didn’t Medicare Open Enrollment End In December?

Most individuals have a feeling they should be doing something during the Medicare Open Enrollment (MA-OEP), but they are not quite sure what. The constant bombardment of television, internet, and radio ads can cause anxiety and confusion because they make people wonder if they should be changing something. We get many phone calls with people saying, “AEP just ended. What is the difference between AEP and MA-OEP?” The Annual Enrollment Period (AEP) is the time of year when you, as