Key Medicare Information for 2023

By |2023-10-17T13:12:50-05:00October 17th, 2023|Retirement, The Blog @JGUA|

Medicare vs. Medicaid- Both Government sponsored health insurance Medicare’s beneficiaries are primarily age 65 and older or meet other exceptions. Beneficiaries have paid into the Medicare system through payroll taxes over their working life. Medicaid’s beneficiaries are low to moderate income individuals. This program is dependent on income. Premiums: Part A- Most people receive [...]

Prior Income Determines Your Medicare Premium

By |2023-09-20T08:46:22-05:00September 19th, 2023|Retirement, The Blog @JGUA|

Did you know that you may have to pay a higher premium for Medicare Part B and Medicare Part D based on a tax return from two years ago? Medicare Part B and Part D use a two-year clawback to determine premiums. The result is a surcharge, known as the Income Related Monthly Adjustment [...]

The Real Cost of Not Enrolling in Medicare When Eligible

By |2023-09-13T12:48:47-05:00September 13th, 2023|Retirement, The Blog @JGUA|

Medicare is confusing. The main Medicare coverages are Medicare Part A, Medicare Part B, and Medicare Part D. On top of that, there are also optional Medicare supplement and advantage plans. To make things more confusing, you could get stuck with a late enrollment penalty for all your main Medicare coverages. This can happen [...]

Unleashing the Age Conundrum: Exploring Retirement Timing and Financial Considerations

By |2023-07-05T12:44:28-05:00June 27th, 2023|Retirement, The Blog @JGUA|

Does Age Matter? The most frequent question that gets asked is, when is the best time to retire? The current average retirement age in the United States is 62.3 years for women and 64.6 years for men. The age that you do end up retiring will affect your finances. Determining the right age for [...]

Donuts and Medicare: The Coverage Gap Explained

By |2023-03-07T09:09:24-05:00March 7th, 2023|The Blog @JGUA|

Do you like donuts? If the answer is yes, or no for that matter, here is a donut you may not like- the Medicare Donut Hole. We all know Medicare is complex and confusing. When you start thinking about medications that can make it seem worse. Between the potential deductible, the copays and coinsurances, [...]

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