Parsec Manager of Financial Planning and Financial Advisor Judson Meinhart, CFP®, BFA ™, provides guidance for this year’s Medicare open enrollment season.
Trying something new can be scary. Trying to understand all of the rules surrounding your Medicare benefits as a new enrollee can be downright frightening! In this presentation we review some of the “oops” and “gotchas” of Medicare for first time enrollees. Topics include:
• Enrollment window and associated penalties
• What happens if you’ve already claimed Social Security
• Coordinating Health Savings Accounts with Medicare
• IRMAA – what it is and what creates income that gets you there
• International travel and cruising for trouble
• Medicare scams
This guide to the important “game” of Medicare will help you swing and putt your way through the complex journey, hopefully aiming you in the right direction. We will highlight some pro-tips, sand traps, water hazards, out-of-bounds areas and preventable bogeys to prepare you for this adventure. This information will help you know which “club” to use at every stage of the course!
Just like you have a financial plan to stay on track with spending and saving, make a plan to manage your health and hopefully reduce your healthcare costs in retirement.
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