Are you turning 64?
Exciting Changes Ahead – Get Ready for Medicare!
I hope this year brings you everything you want, but next year, you’ll be eligible for something even better: Medicare! You might be wondering if it’s too soon to start thinking about it, but there are three key reasons why planning a year in advance is a smart move.
1) Medical Costs Are a Major Part of Your Retirement BudgetWhen planning for retirement, your healthcare expenses should be based on YOUR unique needs, not just an average estimate. Your income, medications, and healthcare preferences all play a role in determining your actual costs.
I can help you plan accurately.
For example, two people with the same income but different prescriptions might see a $400/month difference in costs. Similarly, two people taking the same medications but with different incomes could also have a $400/month difference in what they pay.
2) Your Income Directly Affects Your Medicare CostsMedicare premiums are income-based, meaning higher earners pay more for the same coverage. By understanding this before you turn 65, you can make informed financial decisions at age 64 that could help you avoid unnecessary premium increases.
I can help you evaluate your options and avoid costly surprises.
For instance, someone who waits until age 65 to take a one-time lump sum retirement distribution might see their Medicare premiums increase by thousands of dollars in just one year. Taking that distribution at age 64 instead could lead to significant savings.
3) Medicare May Lower Your Out-of-Pocket Costs for Certain ProceduresIf you have a planned medical procedure and timing is flexible, it might make sense to wait until Medicare kicks in—potentially saving you thousands in out-of-pocket costs.
I can help you compare costs so you can make the best decision.
For example, a knee surgery at age 64 might require paying a large deductible on your current health plan. However, that same surgery at age 65 could have little to no out-of-pocket costs under Medicare.
Let’s Plan for Medicare – Together!Your health coverage in retirement is too important to leave to chance. By planning ahead, you can make sure you’re getting the best coverage at the best cost.
Let’s start the conversation today—your future self will thank you!
I hope this year brings you everything you want, but next year, you’ll be eligible for something even better: Medicare! You might be wondering if it’s too soon to start thinking about it, but there are three key reasons why planning a year in advance is a smart move.
1) Medical Costs Are a Major Part of Your Retirement BudgetWhen planning for retirement, your healthcare expenses should be based on YOUR unique needs, not just an average estimate. Your income, medications, and healthcare preferences all play a role in determining your actual costs.
I can help you plan accurately.
For example, two people with the same income but different prescriptions might see a $400/month difference in costs. Similarly, two people taking the same medications but with different incomes could also have a $400/month difference in what they pay.
2) Your Income Directly Affects Your Medicare CostsMedicare premiums are income-based, meaning higher earners pay more for the same coverage. By understanding this before you turn 65, you can make informed financial decisions at age 64 that could help you avoid unnecessary premium increases.
I can help you evaluate your options and avoid costly surprises.
For instance, someone who waits until age 65 to take a one-time lump sum retirement distribution might see their Medicare premiums increase by thousands of dollars in just one year. Taking that distribution at age 64 instead could lead to significant savings.
3) Medicare May Lower Your Out-of-Pocket Costs for Certain ProceduresIf you have a planned medical procedure and timing is flexible, it might make sense to wait until Medicare kicks in—potentially saving you thousands in out-of-pocket costs.
I can help you compare costs so you can make the best decision.
For example, a knee surgery at age 64 might require paying a large deductible on your current health plan. However, that same surgery at age 65 could have little to no out-of-pocket costs under Medicare.
Let’s Plan for Medicare – Together!Your health coverage in retirement is too important to leave to chance. By planning ahead, you can make sure you’re getting the best coverage at the best cost.
Let’s start the conversation today—your future self will thank you!
