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Category Archives for "Medicare"

The Five Year Rule-Avoid this Retirement Mistake

The Five-Year Rule imposes stiff penalties on those gifting their assets within five years of applying for Medicaid for nursing home expenses. It’s important to know how the rule works and who is penalized. First let’s differentiate between Medicare and Medicaid. Medicare is a national healthcare program for workers 65 or over who have paid […]

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Medicare Plan F – What is it?

Medicare Plan F What is it?  Do I need it?  How much does it cost? Medicare Supplemental Insurance is known as Medigap. Medigap has 10 different types of policies. Each plan has a letter between A and N. F is one of those plans. Medigap Plans are standardized and each lettered plan will have identical […]

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Magical Medigap

Medigap can make or break your finances in retirement. Medigap is a supplemental insurance in addition to Medicare Part A and Part B. It is optional. Medigap covers co-pays, deductibles, and other costs that Medicare does not.  It bridges the “gap” in Medicare coverage. Medicare covers on average 48 percent of your medical costs.  Medigap can pay some […]

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Prescription Drugs (Medicare Part D)

Part D is a prescription drug program. Anyone with Part A or Part B is eligible. To receive prescription drug coverage, you must enroll in a separate plan. Medicare does not offer Part D plans. These plans are approved and regulated by Medicare, but are administered by private companies. “Plans choose which drugs (or even […]

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All Inclusive Coverage – Medicare Part C (Part 3 of 4)

Part C, the Medicare Advantage Plan, is also optional and operates like an HMO (Health Maintenance Organization) or a PPO (Preferred Provider Organization). Part C is often referred to as the All-in-One plan. It includes both Part A (hospital insurance) and Part B (medical insurance), so you do not have to register for those separately. […]

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Do You Know What Medicare Part B Covers? (Part 2 of 4)

Medicare Part B is optional. You will be automatically enrolled in Part B with Part A when you reach age 65. You should receive your card three months before your 65th birthday. You will also receive instructions on how to reject Part B should you not wish to participate. Coverage includes doctor visits, x-rays, vaccinations, […]

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Conquer Medicare (Part 1 of 4)

Medicare is a national health insurance program that covers workers and ensures they receive medical care from age 65 on. Eligibility: To be eligible, workers must have paid Medicare taxes for at least ten years and been a legal resident of the United States for five or more consecutive years. Coverage: If you qualify, Medicare is provided regardless of […]

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