Gerry and Heidi are back this week to continue the discussion about the ABC's of retirement planning. They talk about various topics related to retirement planning, including Medicare, Medicaid, and IRMAA. Gerry and Heidi explain the basics of Medicare and how it is a government-administered health insurance program for retirees aged 65 and above. They also touch on IRMAA, which stands for Income Related Monthly Adjustment Amount, and how it affects Medicare premiums based on taxable income. The conversation then moves on to Medicaid, which primarily focuses on long-term care for the elderly and requires individuals to meet certain financial and non-financial qualifications. The discussion concludes with the mention of ADLs (Activities of Daily Living) and the role they play in determining eligibility for long-term care.

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