Navigating Medicare options before you retire

A brief guide to help you be prepared & plan ahead!

The podcast features a discussion with Merle Jabber, a health insurance expert who has helped many retirees navigate their Medicare options, including group plans for businesses. The host, Tim Goodwin, opens with a light-hearted dad joke but quickly shifts her focus to Medicare, outlining its importance for those nearing age 65 or those with disabilities. Merle explains that while most Americans become eligible for Medicare at age 65, certain individuals can qualify earlier if deemed totally disabled through the Social Security Administration.

The conversation covers various Medicare parts:

Part A (hospitalization and skilled nursing), which is generally premium-free due to payroll taxes paid during working years.
Part B (doctor visits, diagnostic testing), which has a premium based on income and may involve additional surcharges.
Part D (prescription drug coverage), which covers medications, though beneficiaries can choose different plans to fit their needs.

They also discuss Part C (Medicare Advantage), which is marketed as a lower-cost alternative to the traditional A, B, and D plans but comes with a network of care providers that may limit hospital choices. Supplement plans (Medigap) that fill coverage gaps for costs not covered by traditional Medicare are also explored.

Merle emphasizes the importance of planning for Medicare premiums based on income, suggesting individuals start planning for enrollment a couple of years before turning 65 to minimize the impact of income-based surcharges.

The podcast closes with Merle sharing a personal gratitude story about her son, Phoenix, and information on how listeners can contact her company, Potter Risk Advisors, for further assistance. If you are looking for an advisor who cares about you and all the aspects of your retirement, including insurance coverage, even though we do not sell it or make commissions, please reach out to Goodwin Investment Advisory to schedule an introductory call. We would love to help you create a retirement plan tailored to your specific needs and goals. We love helping clients retire to a meaningful and purposeful retirement.

To download the free guide, click here.

The Money PIG podcast is hosted by Reid Trego. Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

For personalized financial guidance, schedule an intro call with our team at Goodwin Investment Advisory in Woodstock, Georgia . Our CFP® professionals can provide advice and help you navigate how to invest your wealth and plan for your retirement. We’d love to help you live out your legacy! To learn more about the benefits and services we offer click here.

Goodwin Investment Advisory is an SEC-registered investment adviser (CRD #131193), and this episode is produced by evanced.net. This podcast is for informational purposes only and is not investment advice or a recommendation to buy or sell any financial products, securities, digital assets, or other investments. It should not be used as the basis for any financial decisions. The host and/or guests may personally hold investments mentioned in this episode. All investments involve risk, and past performance does not guarantee future results. Please consult with a qualified financial adviser, tax professional, and attorney before taking action on any information shared.

By Tim GoodwinPublished On: October 15th, 2024