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Category: Healthcare in Retirement

Medicare Part B Premium Estimates through 2028

Medicare Part B Premium Estimates through 2028

The Medicare Trustees Report for 2019 was just released and the following table shows Medicare Part B premium estimates through 2028. You can see in the table below (page 189 of the report) that the current Medicare Part B monthly premium for 2019 is $135.50 per person and they anticipate this to increase to $226.50 per person by 2028. This is an estimated increase of almost 6% per year. See the table: These premiums are just the lowest tier of…

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10 Charts About Retirement Every Retiree Should See

10 Charts About Retirement Every Retiree Should See

As a Retirement Planner, I eagerly await the release of J.P. Morgan’s Guide to Retirement. It is essentially a booklet of slides filled with a ton of great information impacting retirees. Making it even better, it often highlights things that are regularly overlooked by just about anyone (including professionals) planning for retirement today. With that in mind, I’ve selected 10 charts that I think everyone transitioning into retirement should see with a little commentary on each. Every chart comes directly…

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How to Avoid the Lifelong Medicare Penalty

How to Avoid the Lifelong Medicare Penalty

Most people seem to be aware that there is a penalty for late-enrollment into the Medicare program. Unfortunately though, most people are unaware of how significant the penalty is. It is actually one of the steepest penalties that the federal government imposes on retirees. Perhaps second only to the 50% penalty for failing to withdraw Required Minimum Distributions. Making matters worse, the Medicare penalty is not a one-time penalty. It is a penalty that stays with you for the rest…

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How to Pay for Long-Term Care

How to Pay for Long-Term Care

If you’re like the majority of retirees, you are probably worried about your future health whether that’s simply needing help in your later years or Alzheimer’s. And there is a good chance that your worrying is well-placed as according to AARP, approximately 52% of people who turn 65 today will require some sort of long-term care (LTC). Not surprisingly, women are more likely than men to need care (58% vs 47%). Women also need care longer than men on average…

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Medicare: Almost Everything You Need to Know

Medicare: Almost Everything You Need to Know

As an advisor that specializes in working with retirees, it seems that some of the most commonly asked questions deal with the topic of Medicare.  How does it work?  When do I need to file?  What plan should I choose?  What does it cover?  What is it going to cost?  And so on.  So, instead of searching all over the web trying to find answers to these questions, I thought it would be helpful to provide all the answers in…

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