Medicare benefits start at age 65, but many people continue working past that age, either by choice or need. It is important to understand how Medicare and employer coverage work together.Depending on your circumstances, Medicare is either the primary or secondary insurer. The primary insurer pays any medical bills first up to the limits of its coverage. The secondary payer covers costs the primary insurer doesn't cover (although it may not cover all costs). Knowing whether Medicare is primary [...]
Medicare is offering relief from penalties for certain Medicare beneficiaries who enrolled in Medicare Part A and had coverage through the individual marketplace. For a short time, these individuals will be able to enroll in Medicare Part B without paying a penalty for late enrollment. Individuals who do not enroll in Medicare Part B when they first become eligible pay a stiff penalty. For each year that they put off enrolling, their monthly premium increases by 10 percent -- permanently. Some [...]
On June 28th, 2017 LGT Elder Care Coordinator, Maria Motsavage presented to the Financial Planning Association of Southern Tier New York on 'Navigating Long Term Care Coordination.' Thank you for sharing your valuable knowledge!
Americans are misinformed about many aspects of Social Security, and local Social Security offices may not be helping, according to a study by the Government Accountability Office (GAO). The study found that the Social Security field offices often did not provide key information that would help people make well-informed decisions about when to file for benefits.Deciding on the right time and the right way to apply for benefits can be confusing for many people. While you can apply for Social [...]
After initially delaying a rule intended to prevent financial advisers from steering their clients to bad retirement investments, the Department of Labor (DOL) allowed the rule to go into effect on June 9, 2017, but its future is still unclear. Earlier this year, an executive order was issued delaying the so-called “fiduciary rule,” the first part of which was scheduled to go into effect in April 2017, and calling for a review. The DOL is still reviewing the rule and can still make [...]