All posts by Joe James

Choosing the Right Medigap Plan for your need

Choosing the Right Medigap Plan for your need

Which is the better substitute, Medicare Supplemental Plan (Medigap) or Medicare Advantage? A question like this one will be asked by many seniors who are eligible for Medicare. My recommendation is that Medicare F plan would be the best option. Plan F guarantees franchises of parts A and B, and part A & B co insurance.Hence, many, if not all, bills are paid by Original Medicare and Medicare Supplemental Plan F. Plan F however, is probably the plan with the highest cost.

Medicare supplement insurance plans are an important aspect of a long-term plan for anybody above the age of 65. With the increasing cost of health care, a Medicare health care plan can help you eliminate expenses out-of-pocket.Medicare pays 80 percent of the many insured services. This leaves you responsible for the other 20 percent. Although 20% does not seem overwhelming, it may be safe to consider a hospital bill for heart attack, cancer, stroke or other important medical “events”.Medigap does not contain any advantages over medications prescribed by Medicare. This means that you must purchase a different Part D (PDP) plan that will increase the monthly costs of health insurance.

Medigap plans are standardized, which means that Plan F offers the same benefits, regardless of the insurance company it refers to. The other complementary Medicare plans are A, B, C, D, F, high deductible franchise, G, K, L, M and N. Every insurance firm that offer Medicare supplements have to offer plan A. Fees, plans and Insurance firms that offer Medicare Supplements vary from state to state.A Medicare benefit plan can be a great alternative to Original Medicare. Many plans contain Part D. The costs of Medicare Advantage plans are generally lower than Medicare’s supplemental plans. Some Medicare Advantage plans do not have prizes. The advantages of the Medicare Advantage plan vary from country to country. Many Medicare Advantage plans offer additional benefits that Medicare does not guarantee, such as dentistry, free vision or free association in the gym.

If you are considering the Medicare Advantage PPO, HMO and POS plans, make sure that the doctors have a contract and what the cost is for each insured service. Technically, if you sign up for a PPO plan, you can go to any doctor. But if the doctor does not accept the PPO, you must pay the doctor’s fees and then get the reimbursement of the plan. If it is a PFFS plan, you should check with the doctors to see if they would accept it. Please note that a seller may refuse at any time to accept a PFFS plan, even if they have previously accepted it.Each situation is unique and their needs are different so find a plan that meets your needs at I think it’s important for older people to do a lot of research, find people they consider trustworthy and try to make the best decisions for you.Because Medigap automatically pays your share of the expenses insured by Medicare, it is possible to keep your health professionals who already work with the Medicare plan. Medigap insurance does not limit you to a provider network or requires a referral to an expert. Medicare Advantage plans however, usually have these requirements.

Reasons All Senior Citizens Should Learn How To Invest

Reasons All Senior Citizens Should Learn How To Invest

You have heart it since you were old enough to listen that investing is a good thing. Whether or not you buy the idea, you are going to hear it again hear that investing is actually a good thing. That said, there are plenty of reasons why everyone over 65 should learn about investing. Some of these reasons have been discussed below:

  1. It reduces your risk of making investing mistake

Failure to learn investing basics definitely exposes you to making grave investing mistakes. I believe losing your entire savings in investment is the last thing you want because it is all you have, and you have probably worked your whole life to have those savings. Learn to invest for you to avoid making investing mistakes that can cause to even lose all your money.

  1. Investing delivers great returns

If executed well, investing can deliver you great returns and can make your golden years even more enjoyable without financial stress in the picture. As compared to holding money savings accounts, investing provides greater returns. So, why don’t you learn about what can potentially deliver much higher returns? When you invest, you are also escaping inflation. Learn investing strategies, investing tips, and how to deal with ups and downs that are associated with investing.

  1. Great people also learn about investing

Just like everyone else, you definitely admire some great people, their lifestyle and achievements. If you dig deep into their lives, you will find out that they are great investors too, and they also learn about investing. The fact that your role models also learn about investing should be enough to inspire you to also start learning the basics of investing. Greatest investors of all time like Warren Buffett also learnt about investing and only started with few hundred dollars. You can follow suit and become a billionaire too.

  1. You need to invest

You actually need to invest in your health with Medicare Supplement plans 2020 by
. Unless you don’t care about your finances and you don’t have any financial goals that you would want to achieve, you will definitely invest sooner or later. So, it is important that you learn about investing, and start investing as soon as you can instead of waiting longer. You want your savings to grow, you want to achieve financial freedom, and you want to have a good life as you age. Investing your savings is the only way to achieve all these things.