Season 3

All you need to know about Medicare open enrollment 2020

Episode Notes

Why are you seeing an endless stream of commercials for Medicare providers? Because right now it’s the annual Medicare enrollment period, which ends on December 7. If you haven’t signed up for Medicare yet, you can do so several months before you turn 65 so your coverage starts on your birthday. If you’re 65 or older and have been laid off from your job and no longer have healthcare coverage, you can sign up for Medicare right away. Once you’ve enrolled, you can change your coverage during this annual fall enrollment period. The most common and puzzling decision Medicare enrollees face is what kind of coverage to get. They can enroll in standard Medicare (Part A and B) and add prescription drug (Part D) and supplemental coverage (known as Medigap). Or they can choose a comprehensive Medicare Advantage plan offered by private insurers that covers Medicare services and prescriptions. While Medicare Advantage plans often have cheaper monthly premiums, they can incur higher out-of-pocket costs and limit your choice of physicians and hospitals. Confused? Fortunately, there are resources you can use to use to compare your options and get human assistance. These include:

  • Shiptacenter.org can help you find a local, free State Health Insurance Program (SHIP) representative who can guide you through the Medicare decision-making process.
  • Medicare.gov, the official Medicare web site, lets you compare costs and coverage for standard Medicare, Medigap and Medicare Advantage options.
  • Ehealth.medicare.com can provide a list of Medicare Advantage providers in your area.
  • Askclaire.com, is a popular a free, unbiased Medicare education resource.

Recent Podcasts

Season 8
Tax Tips — Don’t Procrastinate!

Show Episode Notes

The clock is ticking towards Tax Day, April 18. Here are some timely tips for tax form procrastinators.

For further research:

Season 8
Annuities for Retirement Income

Show Episode Notes

Mention the word “annuity” and most investors recoil. There seem to be so many hidden secrets and costs.  And high pressure sales tactics along with "free dinners."

In today’s podcast we unravel those mysteries – with the one man who has consistently worked to educate the public to the ins and outs of annuities – as well as some of the better uses of these insurance company contracts.  Stan Haithcock’s website – www.StantheAnnuityMan.com -- is a great resource for free basic information and good advice on annuities.  And Stan is one of the most entertaining financial speakers you’ll ever meet.

So, sit back and enjoy our podcast.  We devote special attention to Multi-Year Guaranteed Annuities (MYGAs), now yielding over 5.5%.  They’re the insurance industry’s version of a bank CD, without the FDIC backing.  And they are a great way to improve yields either inside or outside your IRA.

To read more about MYGAs, here’s a link to Terry’s column on the subject:  https://www.terrysavage.com/an-annuity-that-works-for-you-myga

And if you’d like to listen to more of Stan’s terrific approach to financial markets, both Terry and Pam have recently joined him on HIS podcast.  You’ll find the links to these conversations here:

Terry Savage: The Savage Financial Truth in 2023
https://www.stantheannuityman.com/fwa-terry-savage-january-2023

Pam Krueger: Your Wealthramp to Fiduciary Advice
https://www.stantheannuityman.com/fwa-pam-krueger-february-2023

 

Show Episode Notes

Podcast Hosts

Pam Krueger

Pam Krueger

Terry Savage

Terry Savage

Richard-Eisenberg

Richard Eisenberg

Stay Tuned Into Friends Talk Money

Copyright © 2021 FriendsTalkMoney.org