Use the FEHB plan’s out-of-pocket cap to help you decide whether to enroll in Medicare Part B.
Archive | Insurance Needs for Retirees
Rare FEGLI Open Season September 2016
The Federal Employees’ Group Life Insurance Program (FEGLI) is having a rare Open Season the month of September. This is the first FEGLI Open Season since 2004. If you are a Federal employee eligible for FEGLI, you can increase your coverage without medical underwriting. The lack of medical underwriting means you won’t have a medical […]
Projected 2017 Medicare Part B Premium Increase
2017 Medicare Part B premiums are projected to increase by almost $30/month to $149/month for about 30% of Medicare enrollees. Medicare will not finalize this increase until the fall. . The 2017 Medicare Part B premium is expected to stay roughly the same at $121.80/month for the vast majority of enrollees who receive Social Security […]
Personal Liability Umbrella
Personal liability umbrella policies can protect you from a disastrous lawsuit. Insurance agents love to sell these policies by citing our litigious society. But do you really need one? Like many issues in financial planning, it depends. Personal liability umbrella policies provide additional personal liability coverage on top of the coverage provided by your homeowners […]
Patient Experience Data Can Help You Choose a Physician
Patient experience data can help you choose a new physician. I found myself recently in a situation in which I needed a new primary care physician and an eye surgeon. I hunted for patient experience quality information to help guide my choices. I changed my health plan in 2015 to a Health Maintenance Organization (HMO) to […]
3 Financial Planning Tasks for a Snow Day
These three financial planning tasks can make your snow day very productive. After shoveling the walk and building the snowman, try to complete one or two of these tasks. You know you’ve put them off. So why not take advantage of the snow day to get them done once and for all. 1. Obtain and […]
Financial Goals – How Much By When?
I often advise clients on how to set financial goals. One technique I use is to ask “how much by when?” Answering this question is a good way to put meat on the bones. It makes your financial goal concrete. The technique also provides an easy way to check whether you achieved your goal. One […]
How to Shop for Medicare Plans
You often can find a better Medicare Part C (Medicare Advantage) Plan, a Part D Prescription Drug Plan, or a Medicare Supplement (Medigap) Plan if you shop every year. You don’t necessarily need to switch plans, but you can use these tips to ensure your current coverage is still appropriate at the lowest cost. Take […]
Is a High-Deductible Health Plan Good?
Use these six tips to decide whether a high-deductible health plan is good for you. These plans have an accompanying Health Savings Account (HSA) that you can use to save for medical expenses that you will have to pay before the plan begins to pay its share. High-deductible health plans are worthy of consideration by the healthy […]
Advance Directives: Not Just for Your Parents
A recent proposal by Medicare reinforces the importance of advance directives for all – both young professionals and those in or near retirement. Medicare has proposed to compensate physicians and other health care providers, when asked, to explain and discuss long-term treatment options and advance care planning for chronic diseases. The reimbursement would also cover […]