Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD).
The 2018 Medicare annual open enrollment period will begin on Oct. 15, 2017 and run through December 7, 2017. Baron Financial Group’s informative webinar, presented by independent Medicare Consultant Mary Jean Cullen (MedicareAssist, LLC), discusses how Medicare works and what you need to know prior and during your Medicare years. This presentation was first held at the September 13, 2016 Wine & Wealth event for Baron Financial Group clients.
You can learn more at Medicare.gov, the official U.S. Government site for Medicare.
Baron Financial Group’s Investment Committee provides an educational webinar on financial planning and investment management. Medicare Consultant and guest presenter Mary Jean Cullen (MedicareAssist, LLC) discusses how Medicare works. It is important to keep in mind that annual enrollment is open now through December 7th.
This presentation was first held at the September 13, 2016 Wine & Wealth event for our clients.
The webinar includes the following topics:
Beware of Market Doomsayers (0:00 -7:28) – Victor Cannillo
Asset Allocation and Diversification (7:30-15:53) – Anthony Benante
Customized Financial Planning (15:56-19:04) – Nicholas Scheibner
Choosing A Medicare Plan: Learn What You Need To Know Prior and During Your Medicare Years (20:12-45:47) – Mary Jeanne Cullen
A 30-second read by Nicholas Scheibner: New Jersey is certainly not known as a “tax-friendly” state. However, the garden state has a much lower threshold on Medical Expense deductions than the federal government. New Jersey allows certain non-reimbursed Medical Expenses to be deducted after they exceed only 2% of your gross income.
A few examples of things you should make sure you keep track of throughout the year:
Medicare Insurance Premiums
Dental Insurance Premiums
Out-of-pocket Prescription Costs
Eyeglasses and vision exams
This is commonly overlooked by taxpayer’s who do not itemize their deductions. However, if you make $60,000 gross income per year, 2% is only $1,200. For most people, their medical expenses will exceed that 2% as long as they keep track of all of them.
During their entire working lives, Americans pay into the Medicare system, yet many fail to understand the basics of how it works and how to use it.
Medicare is government-sponsored health insurance for Americans 65 and older. As with any insurance, the goal is to get the most out of it for the lowest cost. Medicare is a complex, often confusing system that involves choices that users must understand to configure the right coverage for their needs.
By the time you reach the Medicare eligibility age of 65, you may find that you need regular medical care for one or more conditions. This is particularly the case with the 23 million American women who are 65 or older. Women tend to have more chronic conditions than men and, because they live longer, their care lasts longer. Yet, because they earn less than men, women have fewer resources to pay it, so using Medicare advantageously is especially important for women.
Read the December 3, 2014 Financially Empowering Women™ (FEW) column to learn more.
You can go to the ABC News website or click the link below to read the entire article.