How to Plan for Health Care Costs in Retirement

2. How to Plan for Health Care Costs in Retirement Retirement sounds great (and it is)! You’ll have all that time to yourself. You can enjoy your life and do what you want without the day-to-day grind of work. While retirement sounds great, there are other considerations. First and foremost (probably) should be your health care costs. Even if you’re in great health, you’ve probably had some form of health care while you were working. You may not even realize what those costs will be for you in retirement. So, let’s start by discussing the basics of health insurance, why it’s important, and how it contributes to your present and future health, wellness, and happiness.

3. WHY HEALTH INSURANCE IS IMPORTANT? Health insurance is important for many reasons. If you think health insurance is expensive, you should see what the financial burden is to you and your family if you have a medical emergency. Insurance can mean better, timelier health care, treatment options, and also more positive outcomes to your illness or condition. Health insurance is designed to protect you from unexpected (and high) medical costs.

4. Insurance covers all sorts of in-network health care, as well as preventative care. It supports your health and wellness, while treating and helping to prevent illness, accidents, and every other qualified health coverage. There’s no way to predict the future, but health insurance makes it possible for you to prepare for the health issues that might arise in your future.

5. WHAT ABOUT MEDICARE COST NH? Your Medicare Cost NH will depend on the Medicare plan(s) you select. If you or your spouse paid Medicare taxes for the minimum number of years, you may be eligible for the premium- free Part A for hospitalization. If you have to buy Part A, you may pay $458 for the coming year. (You could also be charged a late enrollment penalty if you don’t sign up during your initial enrollment period.) For Medicare Part B, your premiums will depend on your yearly income, with a monthly range of $144.60 to $491.60 for the coming year depending on what you filed on your individual or joint tax return. In general, Medicare Part B covers medical services and supplies with medical necessity. You may also be subject to a penalty of up to 10% of the standard premium.

6. WHAT ABOUT MEDICARE SUPPLEMENT PLANS? Medicare Plans A and B are both considered part of the Original Medicare coverage, but you may still need additional coverage to meet your needs. Medicare Supplemental Plans, or Medigap, are plan options that covers all the extras like co- insurance, deductibles, and co-payments that come up. Supplemental insurance plans fill in all the gaps not covered by Original Medicare Plan A, Plan B, etc. Supplemental insurance involves a monthly premium, the cost of which will vary depending on the health plan you select.

7. Martin’s Point Medicare NH offers Medicare Advantage options in Maine and New Hampshire with the name of Generations Advantage. It’s a high quality addition to the Medicare Part A and Part B plan. Martin’s Point Medicare NH is dedicated to providing the best customer service, while offering the best health care.For more about Medicare options, supplemental plans, and advantage solutions, take a look at what Blue Goose has to offer. We’ll walk you through the entire process and give you recommendations for the Medicare and health plan solutions that should work best for you. We look at your situation, answer all your questions, and make sure you’re on the right path for your health concerns. Learn more today. Source How to Plan for Health Care Costs in Retirement

8. Contact Us 500 Southborough Dr #300, South Portland, ME 04106, USA Blue Goose Inc. Blue Goose Inc. Blue Goose Inc. www.Bluegoosemaine.com info@bluegoosemaine.com 207-807-2272