Caliu's Baby Boomers

This content shows Simple View

Seniors need to expose your finances to your spouse

Seniors need to expose your finances to your spouse

Male seniors may not feel good or free to expose their finances after retirement to their spouses. This is not because they do not want them to know how much they have in their accounts but it is something that comes naturally. Just like an employer expects employees salary to be ones secret, some of the seniors will always keep secrets from anyone except that person who has been identified as a trustee. However, there are a number of reason why you need to expose your financial status after your retirement to your spouse. It is only through reading this article that you will realize how important it is to let your spouse know your financial status after your retirement. Consider getting Medicare Supplement Plans 2020 to save money and time.

Your spouse is your financial partner

Even when your spouse has a job or has retired as well, it is very crucial to make sure that you let her/him know how much retirement benefits you have in your bank. Why is that important? It is very important because your spouse will advise you on what to do with your money. Some of the spouses are good enough to tell you how to go about spending or investing after your retirement. It is very important therefore for you to expose what you have in the bank without any regret because your spouse will help you spend your finances wisely.

Exposing what you have in bank means that enhancing financial trust

There should be a financial trust between you and your spouse. Whenever there is a financial trust, then your spouse may be a trustee in the even that you will not be in a position to decide on how to manage and how to use your finances. It is very important to make sure that you let your spouse know everything you have in the bank. It is better for your spouse to be aware of what you have in terms of finances than letting an outsider become a trustee. For example, if you are at the age of 80 and your spouse is at the age of 56 or less than that, it is very important to make sure that he/she becomes your financial trustee.

Your spouse will eventually inherit your finances  

Exposing your financial status to your spouse is important as they will be aware of how much you have in your account. When he/she already knows what you hold at the bank, then it becomes easier for you and your spouse to manage.

The power of Attorney and your Written Will should be Prepared in Advance soon after your retirement

The power of Attorney and your Written Will should be Prepared in Advance soon after your retirement

You will agree with me that there you will have to leave a will behind which will outline how your properties will be divided among your children and grandchildren in the even that you will no longer be in a position to manage and rule over your wealth. If you are a senior who has attained the age of 65, it is important to prepare a will and a power of attorney. Preparing a will and a power of attorney is very important because of a number of reasons that I will explain in the next paragraphs. Visit the following site for information on a medicare advantage plan for the upcoming year

The power of attorney give a persona authority to handle your finances

Old age is a period when things are uncertain. You will agree with me that it is unfortunate that the health of individuals beyond the age of 65 may deteriorate hence forcing them to seek power of attorney that will allow him/she to handle financial issues on behalf of the senior. It is therefore very important to ensure that you a specific type of power of attorney that will ensure that your financial issues such as payment of bills and incomes runs smoothly even in the event that you are hospitalized or is spending time in a senior care facility.

The power of attorney will ensure that your bills are paid on time hence avoiding penalties that may add more stress to your life. It is therefore important to make sure the power of attorney is created immediately after you retire. This is because at the age of 65 and above our mental capacity may not be up to the mark. You will agree with me that at the age of 65 we tend to forget even simple things like brushing our teeth. If that is the case, then there are high chances that we will also forget to authorize payment of bills. To avoid this, we need to create a power of attorney as early as possible.

Create a will and testimony while you are still in your right state of mind

It is obvious that you have a wish to leave you wealth to those that you love. If that is the case, then it is very crucial to create a will so that your wealth division will go as per your consent. Preparing a will early enough is very crucial also as it is a basis of avoiding upheavals that comes with wealth sharing.

Cost and Benefits of Medicare Supplement Plan F

Because Medicare supplement Plan F has wide-ranging coverage, it seems to be the most appealing to seniors who need help with the extra costs of their medical needs.   Medicare Part A and Medicare Part B will cover a part of hospital costs and specialists, and Plan F will help cover the remaining bills they may have for their medical issues. This may also mean these plans may be more expensive for the senior to take on for their budget.  There are 10 Medicare Supplement Plans, also known as Medigap, to help with the additional medical expenses left after Medicare pays their amount of the bills. They are lettered from A-N. You will find that no matter where you live or what insurance agency you choose, these plans are standardized and will be the same everywhere. They all should offer Medicare supplement plan A and also Plan C or Plan F everywhere in the state you reside. The main consideration one must think about is that these insurance agencies will have different monthly premiums for each plan. It is important to really look carefully at all the plans to see what will meet your medical issues and how much you are willing to pay for the monthly premiums.

Medicare Supplement Plan F Advantages:

Medicare Part A deductible

Medicare Part A hospice care payment

Medicare Part A hospital costs beyond 365 days

Medicare Part B coinsurance

Medicare Part B deductible

Medicare Part B excess charges

Nursing home costs

First three pints of blood needed for a medical issue

Health issues in a foreign country (up to 80% benefits)

If one acquires a Medicare Supplement Plans 2018 there may be changes depending on where you live and the insurance companies that offer Medicare supplement plans. Some people will pay their out of pocket expenses first and therefore will have a different higher deductible.  This is a distinction from the standard Plan F that wants an applicant to pay all the out of pocket expenses up to the deductible and that was $2200 in 2017. After one meets the deductible, the Medicare supplement policy will start to pay for your Medicare expenses.  In conclusion, one will need to look through all the Medicare supplement plans and see which one will meet all the medical expenses for the future. You may change your plan in the future.

Consider Investing rather than leaving you Money in the Bank

Consider Investing rather than leaving you Money in the Bank

Considering that expenses are always present even through old age, it is important to make sure that you look for ways in which to generate more income and top up your retirement finances. For most of us who have attained the age of 65, we may not want to invest our retirement finances for the fear of losing them. However, if we sit down and think straight, we will certainly realize that it is better to take risky investment rather than saving our retirement finances in our banks accounts. Saving may not accrue enough as we would have accrued if we invested. Here are a number of things you need to know before deciding to invest. Get a quote for medicare advantage plans at

Investment risks do exist

After your retirement, your retirement benefits provider will certainly offer you a lump sum and you will be at liberty to leave them in your savings bank account or invest them elsewhere. In the even that you will decide to invest such finances, you need to be aware of all the possible financial investment risks. How will you get to know your investment risks? It is simple, before you invest any amount, it is crucial to seek the services of an investment advisor. This is a person who will help you make decisions on whether to invest or not. Sometimes, the financial investors will discourage you from investing in risky businesses such as forex trading.

You need to diversify your investments

Diversifying is basically investing a portion of your retirement finances in various business types. For example, if you have been thinking of opening a gas retail out let, then it is important to open a cooking gas outlet as well so that the two related businesses can help one another in cases where one may not be picking up well. In other words, this will help you when one section of the business is not doing well as you will be assured of gaining from the other line of business at the end of the day.

Decide on the right type of retirement finances to invest

Sometimes, it becomes very difficult for us to invest our retirement benefits but would feel at ease investing all that which we saved when we were still employed. With that idea at hand, it is very crucial for us to make the right decision. It is better to invest using our savings rather than with our pension money.

Secure your life with Medicare Supplemental Plans

Today, the economy has not left a good impact on us. Probably the hottest changes in the age group were seen, which are not very helpful to guarantee a happy life for people. Therefore, everyone is looking for good options such as insurance plans and policies that make life healthy and prosperous. Protection and affordability are the key factors that are commonly important to different types of people who want to secure their lives through Medicare Supplementary Plan. It is a health insurance policy for seniors and disabled people older than 65 years and younger than 65 years. It makes sure that you should be very happy and comfortable, and you will get several benefits.

For those new to the Medicare program, the terms used and the guidelines to follow are often confusing. When the program started, it was very easy. It consisted of two parts. Part A covers many of the costs associated with hospitalization.


Part B covered medical costs incurred as a result of outpatient treatment and services. Due to changes in the healthcare industry and the evolving needs of older people, the Medicare supplemental plan has been created. As a Medicare beneficiary, the options in these plans offer you the option of being covered beyond the original program parameters.

The most primary qualification is age and the various types of diseases that you may be seriously suffering. And if you are 65 years and over 65 years, then you are eligible to apply for Medicare supplementary plans. First, a candidate should register for both Medicare Parts A and B before submitting an application for insurance policy. Most elderly and disabled people sign up for both parts A and B, depending on the age restriction, while others are waiting for enrollment in Part B after losing the employer-sponsored health insurance after retirement. Therefore, you must enroll for Medicare.

AARP Medicare Supplemental plan is available at a health insurance coverage provided by private insurance companies to persons over 65 years and under 65 years of age. There are several types of safeguards that you can choose from Medicare of your choice and interests. All the plans in this category are more and more useful and supportive and ensure that life is happily and progressively secured. There are many recognized insurance companies in the market so you should have good knowledge and a keen understanding of plans to choose the right type of Medicare policies. It is important to note that you should make a good comparison between them. You should choose the best insurance plan to protect your life with several types of benefits.

There are about ten modern Medicare insurance coverage plans (A, B, C, D, F, G, K, L M, and N) that are helpful in securing human life through substantial coverage. These plans are used to fill the gaps of the basic health protection of an individual. It is very helpful to relieve part of the costs you have to pay for the cover. Recently, Plan F has been most useful and modernized to fill in the gaps in Parts A and B. Plans C, D, G, and N are the most pending plans to cover common coverage while providing a modest commitment to cover future pocket costs. If you are unsure about this plan, you should seek advice from insurance industry professionals who will provide you detailed information about Medicare policies.

Is Dental Care Covered Under Medicare?

In fact is, you will need to pay for almost every dental care service you receive. The basic Medicare won’t be paying for any regular dental procedures such as fillings, cleanings, extractions, dentures, etc.


However, according to a section of Social Security Act, 1935 your Medicare policy needs to compensate for services associated with the tooth sockets (alveolar bone) and gum (periodontium) areas. The kind of service offered along with which physical areas are involved would decide if Medicare covers part or all of your expenses. It’s not associated with dental care merits nor to the requirement of the treatment. While this might cause a little confusion, it’s best not to expect to receive any compensation for your routine appointment to the dentist.

Get a Humana Advantage quote at

Listed below are a few treatments which might be compensated under Medicare:


  1. Certain surgical treatments for reconstructing a ridge
  2. Wiring a person’s tooth in case its part of the jaw fracture repair.
  3. Hospital stays might be compensated as long as they’re essential for emergency dental treatments, even in the case where a particular dental care isn’t covered.
  4. Dental splints might also be covered as long as they’re part of treating medical issues which are covered, like dislocated jaw joints.
  5. In certain situations, examinations that precede critical surgery like a kidney transplant or heart valve replacement. In this case, the exam will be covered & not the treatment itself since the exam will help identify the risks or infection before the complex operation.
  6. Infections that include tooth extractions might also be covered.
  7. Inpatient hospital services if a dental treatment is serious enough to require the patient staying in the hospital. However, it won’t be paying for the person’s dental care itself.


It won’t matter if you carry out the treatment in the hospital or your dentist’s office. If it is listed under Medicare, it will definitely be covered irrespective of your chosen option.

Humana Medicare Advantage plan 2019

Certain dental procedures can be covered via Medicare Supplement plans. Here, you must make sure to discuss it with your carrier beforehand. Many times, specific procedures, such as tooth extraction might be covered however the follow-up or dentures might require you to pay separately.


To conclude, certain dental services could be covered by Medicare if they’re essential for protecting your overall health & well-being. For others, you will often be required to pay the bill out of your own pocket.


Medicare Advantage Plans- How it Affect Seniors Above 65

Medicare Advantage Plans are used to support healthcare costs that are not covered by the original Medicare Plan. The cost of coverage can vary a lot from one company to another and with various plans because the different firms charge different premiums. This insurance coverage also helps with deductibles and co-payments. Seniors who sign up in a Medicare Benefit Plan will not qualify for a Medicare Advantage Plan. Every Medicare Advantage Directives should be clearly marked as such. These guidelines must provide comparable, if not similar benefits.

Benefits such as long-term care, dental care, glasses, etc. are not included in these policies. Insurance providers can easily determine what type of policies they sell, but the policies that are offered are affect by state laws. Occasionally, insurers should sell you a policy irrespective of the health issues you have, especially if you are applying during open enrollment. At other times apart from open enrollment, the insurance firm may refuse you a policy if you already have an existing condition. Just because many individuals today have medical problems, the best time to sign up for a policy is during the open enrollment.

Get a quote and enroll for AARP advantage at

Basically you will waste your time trying to find plans through unsuspecting websites. While they may come to the fore and seemingly help to make plans, the main goal is to simply gather your information. They will go on to sell them and you will be bombarded with promotions from other companies. This in turn makes the whole process much more frustrating and annoying.

In order to stay away from the situation, you must take several measures. It is important for you to ensure that every supplier you employ is a fully licensed broker that really sells insurance. You will find a few techniques to help you determine if this is the case or not. Firstly, they will typically have a toll-free number that you can call. Secondly, they will make a promise that they will never share the data you provide with third parties.

Consequently, to uncover the most effective Medicare Advantage plans, you will want to take advantage of an agent’s benefits, as they are in the best position to find the most effective and feasible policies that are right for you. In general, this is a much better choice than going directly to a large company and through an independent broker you can find the best alternatives.

While costs and coverage should be the same from one provider to another, certain things may change at times. Most striking is the flexibility of a plan to adapt to the highs and lows of life and to incur additional costs. Typically, a plan should offer as much flexibility as possible, although it is worth noting that the premiums for this privilege are likely to be higher.

Once a Medigap plan has been decided, it is quite easy to sign up. It is the process of reaching a decision that takes time. But it is worth the time, as the plan is likely to be needed over the years, and there are some terrible stories of people who did not have enough cover.


Medicare Supplement Plans M

Medicare Supplement Plans M

Medicare supplementary plans, for those who do not know, are designed to cover the gap between the actual bill and the policy coverage of the original Medicare, when it arrives later in the mail. This gap exists because it was discovered that the original Medicare plan did not pay for every medical service actually needed, and this may lead to a medical disaster.

Think about it for a bit, it makes a great deal of sense to discover that there is more than one “gap” between your bill and the original plan. To begin with, you do need to have Medicare to be able to do something about that gap, and then supplement it with other plans to help fill the gaps. This example is more like filling teeth such that to make it whole again, the dentist takes the original tooth and fills in the gaps with supplemental material.

Medicare Supplement Plans 2019

Notice the use of the term “gap” and it will not come as a surprise that the plans designed to fill in the original Medicare are known as Medigap policies. The policies are run by private insurance companies who sell them to the public at different prices. Though the plans themselves are standardized, i.e. they are the same in every state, depending on what the insurance company wishes to charge for them, the prices tend to be different.

Regardless of the truth that Medigap policies are handled by private health insurance companies, they still have compulsory common rules to be followed to actually sell the Medigap policies. There are only 12 standard policies running from plan A to L. Their different policies have its set of benefits as well.

What is usually not clearly understood by most people is that many Medigap policies offer consumers the basic benefits of plans A and B. they also have their own advantages in addition to the basic benefits.  Get a quote at

The 12 plans (A-L) have been in existence since 1992, but now plans M and N were introduced in June 2011. The main benefits of these two plans is that they will provide lower premium rates as an alternative to the already existing Medicare Supplement plans.

There will be a $20 co-pay for each visit to the doctor. The co-payment is $50 for an emergency room visit. This plan covers 100% of the Part A deductible. It provides 100% coverage of the coinsurance required for hospital stays of more than 60 days. Once Medicare benefit limits are reached, it adds 365 additional hospital days. The plan will also cover 100% of the coinsurance requirements in Part B for doctor, lab, and outpatient costs.

Medigap Plan M includes the following costs and benefits:

  • Part A hospital costs and hospital coinsurance up to an extra 365 days after Original Medicare benefits are exhausted
  • First three pints of blood for a medical procedure
  • Part B copayment or coinsurance payment
  • Part A hospice care copayment or coinsurance payment

With any change in Medicare or Medicare supplements, be sure you take time to read each policy you decide to sign up for, so you are aware of the health coverage you actually have.