EPISODE #075

WHY REVIEWING YOUR MEDICARE SUPPLEMENT ANNUALLY IS KEY

PERSONAL FINANCE TIPS DELIVERED DIRECTLY IN YOUR INBOX

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5 Ways Your Wealth Is Under Attack book

5 WAYS YOUR WEALTH IS UNDER ATTACK

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Navigating Medicare with Dane Mihlon

In this episode, John and his partner Edward Bao, CFP®, AIF®, talk with Dane Mihlon, a licensed independent agent for Life Insurance. He runs MedSupAmerica.com, a website dedicated to offering free advice on Medicare Supplement products. The in-depth conversation covered Medicare, Medicare Supplements, and how they’re connected to Social Security.

John is the author of 5 Ways Your Wealth is Under Attack and It’s Your Wealth – Keep It.” He has lectured extensively on financial planning and is a seven-year recipient of the Five StarSM Wealth Manager Award.

Don’t miss these important takeaways:

  • The newest challenge to the Medicare system is a large increase in the number of retirees due to the COVID crisis.
  • The biggest issue facing retirees is that many of them did not expect to retire so soon, and they are receiving incorrect advice about Medicare.
  • Other retirees will see a larger Medicare bill than expected because of a good tax year in 2018.

Plus:

  • Every person nearing retirement will need to consider whether Medicare (Parts A, B, and D), or possibly a Medicare Advantage Plan are right for them. They will also need to learn about Medigap or Medicare supplement plans.
    • Medicare experts can tell you which plan or combinations thereof can get you the biggest bang for your buck.
  • Medicare supplement pricing is based on your age and where you live.
  • When you move, you may lose coverage for a time, so call Medicare well in advance. Your prices will change according to location too, so be ready for your bill to go up—or down.
  • People should review their Medicare Supplement insurance every year to make sure it is still appropriate for their needs.
  • Still working? Plan ahead—Medicare has specific enrollment periods, so learn what they are now.

For more, listen here. Then download our up-to-the minute guide, Eight Steps of Financial Success, which brings together everything we want to achieve in the financial planning process.

Download the 19 Sources of Retirement Income, which offers ways to increase your existing retirement income. Order your copy of It’s Your Wealth, Keep It (my newest publication) and 5 Ways Your Wealth is Under Attack. If you are new to Smallwood Wealth, schedule a Wealth Curve Conversation by clicking this link.

You can also connect with us on social media, or call us at (800) 797-1000. Set up a free, no-obligation 30-minute phone call with a qualified advisor to discuss how to set up your retirement plan.

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