Saturday August 3rd, 2013

Medicare Parts A & B

Today on the Crash Proof Retirement Show®, Medicare expert Rick Solofsky of Solofsky Financial Group explains some little-known facts about Medicare.  This revealing exclusive interview contains information that can help you prepare for your transition into retirement by educating you about Medicare Parts A & B, and how Medicare will be affected by the upcoming implementation of Obamacare.

Some of the key points covered by Mr. Solofsky:

Not everyone needs to apply for Medicare.

  • If you’re over 65 and work for a company with 20 employees or more, you do not need to apply for Medicare.
  • You can also dis-enroll if you find out that is the case.
  • People often apply for Medicare because they feel that have to, but that’s not always the case.

Medicare monthly premiums could be doubling under Obamacare.

  • Currently monthly premiums are $104.90, depending on your income.
  • Under proposed regulations under Obamacare, that premium could double.

You need to understand what is and is not covered by Medicare, and realize that there is a coverage gap.

  • This gap has always existed.
  • To fill the gap, you need to purchase a private policy known as a Medicare Supplement or Medigap.
  • Even HMO-type plans with low premiums, you may be responsible for co-pays for things like hospice and nursing homes.
  • You could end up paying for these expenses out of your nest egg, or your Social Security check.

If you have any questions about the information you heard today on The Crash Proof Retirement Show®, click the Live Chat button on the bottom right and submit your questions, which will be answered by our Medicare expert, Rick Solofsky.

 

 

Also, be sure to check out the research featured on this Saturday’s Crash Proof Retirement Show®, including exclusive content produced by Retirement Media Inc.

How Will the Next Fed Chairman Impact Your Retirement Savings?

Women Facing the “Extra Long” Retirement

Women, Retirement, and the Extra-Long Life, a study by Metlife

 

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