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Making Medicare Work for You

Making Medicare Work for You

March 21, 2024

We had a webinar on Thursday, March 21, to teach our clients about Medicare. We were delighted to have Jennifer Taboada, a Senior Financial Wellness Consultant and one of their experts in Medicare from BlackRock. For our blog this month, we will share a video of her presentation (recorded at an earlier date), her slides from the presentation, plus "Medicare for retirees," a two-page quick reference guide for 2024. 

The presentation covered the following topics:

  • What is Medicare?
  • Choosing a Medicare Plan
  • Enrolling in Parts A, B & D
  • What happens if you are still working at age 65?
  • Do you need a Medigap policy?

This month's blog provides a webinar recap that includes Medicare basics and valuable resources.

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Medicare Basics

Medicare is the federal health insurance program for people in the United States who are 65 and older. It is also available to disabled people under the age of 65. The most common parts of Medicare are:

  • Part A – Hospital Insurance
  • Part B – Medical Insurance
  • Part D – Prescription drug coverage

To complement the Medicare coverage, there are Medigap policies and Medicare Advantage policies. We encourage you to watch the video of Jennifer Taboada’s presentation.
  

Making Medicare Work for You Recorded Presentation

  
In the presentation, learn more about choosing a Medicare plan and enrolling in Parts A, B & D. In addition to this Medicare coverage, you may consider a Medigap or a Medicare Advantage policy to cover costs not paid by Medicare. This can get complicated very quickly.
  

Choosing a Medicare Plan Complications

You can enroll in Medicare starting 3 months before your 65th birthday and up to 3 months after your 65th birthday. If you are still working at age 65, you may choose to continue your company health plan. There are many things to consider and decisions to make when you turn 65 and enroll in Medicare.

Additional Medicare resources available for you to download include:

  Medicare for Retirees Quick Reference

  
We encourage you to talk with a Medicare Specialist to help you make these decisions. Talk with your Wealth Manager at Financial Journey Partners, and we can recommend several Medicare Specialists in California as well as some national resources that can help you through these important decisions and with enrollment in a health insurance plan that will work well for you.

Medicare May Reduce Your Medical Insurance Costs

Purchasing medical insurance on your own before age 65 can be VERY expensive. Many people find that their medical costs go down, sometimes significantly, when they go on Medicare. Some of our clients have chosen to continue working until age 65 to continue their company medical plan until age 65, then transition to Medicare. Getting health insurance through an employer is a big benefit and cost savings that comes from working until age 65.

Medicare is an important element of your retirement strategy. Visit our FJP Medicare Planning page to get connected with more Medicare resources. If you have questions about Medicare and how medical insurance fits into your financial plan, we are happy to discuss it with you as your Wealth Manager.

  



Our New Book is Now Available on Amazon


Elaine and Scott Manley's 
new book Enjoy the Journey – Successful Retirement Strategies and Stories, is now available on Amazon in three formats: Kindle eBook, Softcover, and Hardcover.

If you would like a hardcopy version of the book, contact your FJP Wealth Manager and we will provide our clients with a complimentary copy of our new book.

We wrote this book to help people make the transition from working full-time, to the next phase of their life, no matter what that next phase may be.

Elaine, Scott, and Linda have spent decades helping clients make this important life transition and they share what they have learned in this new book. There are also real client stories from clients who have made this transition successfully and a few who did not. Our clients have been reading the book and giving us great feedback. 

"We believe you can retire with more clarity and confidence than you ever thought possible."
- Elaine & Scott Manley

 



Financial Journey Partners

Financial Journey Partners - Partners in Your Financial Journey®

Our Financial Journey Partners office is based in San Jose, California. We have clients that live in many states across the country. If you have questions about your investments or financial situation, call us to schedule time to talk about your specific situation.

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The reviews expressed are regarding the book "Enjoy the Journey: Successful Retirement Strategies and Stories" and are not regarding investment advice or services received from Mutual Advisors, LLC DBA Financial Journey Partners. The reviews are not from clients of Financial Journey Partners and there was no compensation provided for such reviews.

This book is for educational purposes only. It does not make specific recommendations to buy or sell any securities or give specific investment advice. Views expressed are those of the authors and do not reflect the views of Mutual Advisors, LLC, Mutual Securities, Inc. or any of its affiliates (collectively "Mutual Group"). Clients and prospects are under no obligation to purchase the book.

Revenue generated from the publishing or selling of the book are paid directly to the authors as outside business activity and are not considered part of the investment services offered through Mutual Group. Mutual Group receives no portion of the revenue generated by the publishing or sale of the book.