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Are You Planning For Health Costs Or Guessing
Medicare is one of those milestones that sounds scary until you see the rules laid out clearly and realize you actually have more control than you think. We sit down with Paul Jankowski from Shepherd Insurance, a Medicare specialist who has helped people navigate Medicare since 2005, to walk through what happens as you approach age 65 and how to avoid the most common (and costly) mistakes.
We start with the basics that trip people up: Medicare vs Medicaid, when your Medicare effective date begins, and how enrollment works if you are or are not already taking Social Security. Then we zoom out to the real-world problem we see constantly in financial planning: retiring early at 62 or 63 and getting hammered by health insurance premiums. We compare COBRA to Affordable Care Act marketplace plans on Healthcare.gov, including how provider networks can limit out-of-state care and why “Affordable” often depends on your modified adjusted gross income.
From there, we get into the details that matter for your budget: Medicare Part A and Part B, how Part B premiums are set, and how IRMAA income surcharges can raise both Part B and Part D costs for higher earners. Paul explains why Medicare Supplement Plan G is often the strongest, most predictable coverage, what Indiana’s new Birthday Rule means for switching supplement companies without medical underwriting, and why Part D prescription drug coverage is worth enrolling in on time to avoid lifetime penalties. We also break down Medicare Advantage plans, including the tradeoffs behind $0 premium plans, network rules, copays, and hospital costs up to the annual out-of-pocket maximum.
If you want a practical roadmap for Medicare enrollment, Medicare supplement vs Medicare Advantage, and retirement health insurance planning, this conversation will save you time and money. Subscribe, share this with someone turning 65, and leave a review so more people can find the show.
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.
The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may suit you, consult the appropriate qualified professional before deciding.
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By Greg Farrall
4.9
1212 ratings
Medicare is one of those milestones that sounds scary until you see the rules laid out clearly and realize you actually have more control than you think. We sit down with Paul Jankowski from Shepherd Insurance, a Medicare specialist who has helped people navigate Medicare since 2005, to walk through what happens as you approach age 65 and how to avoid the most common (and costly) mistakes.
We start with the basics that trip people up: Medicare vs Medicaid, when your Medicare effective date begins, and how enrollment works if you are or are not already taking Social Security. Then we zoom out to the real-world problem we see constantly in financial planning: retiring early at 62 or 63 and getting hammered by health insurance premiums. We compare COBRA to Affordable Care Act marketplace plans on Healthcare.gov, including how provider networks can limit out-of-state care and why “Affordable” often depends on your modified adjusted gross income.
From there, we get into the details that matter for your budget: Medicare Part A and Part B, how Part B premiums are set, and how IRMAA income surcharges can raise both Part B and Part D costs for higher earners. Paul explains why Medicare Supplement Plan G is often the strongest, most predictable coverage, what Indiana’s new Birthday Rule means for switching supplement companies without medical underwriting, and why Part D prescription drug coverage is worth enrolling in on time to avoid lifetime penalties. We also break down Medicare Advantage plans, including the tradeoffs behind $0 premium plans, network rules, copays, and hospital costs up to the annual out-of-pocket maximum.
If you want a practical roadmap for Medicare enrollment, Medicare supplement vs Medicare Advantage, and retirement health insurance planning, this conversation will save you time and money. Subscribe, share this with someone turning 65, and leave a review so more people can find the show.
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.
The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may suit you, consult the appropriate qualified professional before deciding.