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Todd D. Heckman |
December 11, 2013 |
Annuity Basics, Annuity123, Healthcare, Long Term Care, Member Posts, Todd Heckman
The Medicare program began life as an addition to President Franklin Roosevelt’s vision to meet the needs of older workers living in America. Medicare was created in 1965 under Title XVIII of the Social Security Act to include health benefits for those retirees eligible for Social Security retirement. What is Medicare? Within 3 months prior to and up to 3 months after your 65th birthday, you are eligible to enroll in Medicare. There are no income qualifications (minimums or maximums) for the program, just...
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Todd D. Heckman |
May 14, 2012 |
Healthcare, Retirement Planning, Your Retirement
According to a report released by Fidelity Investments released last week, a 65 year old couple retiring in 2012 will spend at least $240,000 in healthcare costs during their retirement (this is on top of their Medicare benefits). Compared to the forecast given last year of $230,000, this update represents a 4% increase. Further, this expenditure forecast does not even include long-term care, over-the-counter medications, nor most dental care expenditures. Given this significant and growing amount, it is very important to ensure that your retirement...
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Todd D. Heckman |
May 9, 2012 |
Healthcare, Your Retirement
Knowing that health care is such a large cost driver in retirement, why do so few pre-retirees discuss health care with their advisors? A recent study from Nationwide Financial states that almost half of high-net worth Americans who are close to retirement say that they are “terrified” of what health care costs may do to their retirement plans. However, only 38% say that they have not discussed retirement health care costs with their advisors. This survey also revealed that respondents who were 55 or older...
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Todd D. Heckman |
February 8, 2012 |
Annuity123, Healthcare, Your Retirement
One of the most important financial factors in retirement and retirement planning are medical expenses. Medicare coverage has grown much more complicated with the addition of Medicare Advantage Plans, their substantial variability and their rapid growth. One in five Medicare patients (over 8 million) are enrolled in a Medicare Advantage Plan. The largest plans are Humana and United Healthcare. With an “all in one” plan Medicare beneficiaries can avoid the hassle of enrolling with Medicare and prescription drug coverage. From Medicare.gov The Official U.S....
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