A popular belief suggests a diversified portfolio can be sustained for 30 years with a withdrawal rate of 4% or less, adjusted annually for inflation. However, this is only sometimes applicable. Your…
Tag: medicare
Want to Retire in 2024? Here’s What You Need to Know.
Embarking on the retirement journey is a monumental step. However, diving headfirst into this new chapter without laying the proper financial groundwork can lead to a myriad of unforeseen challenges and obstacles….
Why HSAs Might Be the Best Thing You’re Not Using Yet
Imagine a world where your healthcare dollars work as hard as you do, where every penny you save for medical needs gets a superhero cape, flying tax-free, growing in strength, and always…
No More Grey Hairs Over Social Security – Top 3 Myths Busted
Understanding the intricacies of Social Security, the pivotal financial backbone for most retirees can often be daunting due to the complex regulations that continue to shift with time. Many people, even those…
What You Need To Know About Medigap Before Purchasing This Pricey Add On
Medigap, or Medicare Supplement Insurance, is a type of private health insurance designed to supplement Original Medicare (Part A and Part B). It helps cover out-of-pocket costs that Medicare does not fully pay for, such as deductibles, coinsurance, and copayments.
Budget Proposed by Biden Would Extend Medicare Funding by 25 Years
The plan calls for higher taxes on high-income earners and increased prescription drug negotiations. The federal budget proposal of President Joe Biden will include an increase in Medicare taxes for individuals earning more than $400,000 per year and an expansion and acceleration of prescription drug price negotiations. According to the White House, these changes will ensure that the health insurance program for older Americans remains solvent for at least 25 years.
The Rising Cost of Healthcare After Retirement: What You Need to Know
Discover the reasons behind the increasing cost of healthcare after retirement and learn how to prepare for this financial challenge.
Is Increasing The Retirement Age The Right Answer?
Many policymakers and experts have proposed raising retirement age to address the financial challenges an aging population poses. While there are potential benefits to raising the retirement age, such as increased economic productivity and reduced strain on government resources, there are also several drawbacks to consider.
Dual Eligibility For Medicare And Medicaid Can Help With Out-Of-Pocket Costs
Many Medicare recipients are astonished to hear they may be responsible for thousands of dollars in additional healthcare expenses yearly. There are premiums, deductibles, copayments, and coinsurance, which vary according to whether you choose traditional Medicare or a Medicare Advantage plan, where you reside, your health, and how much medication you use.
Are Medicare Misconceptions Ruining Your Retirement?
It is crucial to understand how this Medicare operates. Many employees rely on their employers for health insurance coverage. When you leave employment permanently, you must often get coverage for yourself.
