Health

 Comfort In A World of Chaos

Health

Better to have the right healthcare and not need it than to need it and not have it.

From the moment you are born through your retirement years you can expect to need medical care at some point. In an ever changing environment like healthcare it is tough to know which plan is best for you and your family. 

Living To Long -or- Dying To Soon

We have heard all the buzz words in healthcare; high deductible, co-pays, co-insurance, maximum out-of-pocket expenses. But what does all that mean to you as you age into Medicare? It is estimated that 10,000 baby boomers will age into Medicare each and every day. What healthcare choices you make now can have a direct effect on your financial plans in the future. 

No one thinks that medical expenses will decrease. In fact, medical expenses will become one of your largest expenses in retirement. Having the proper coverage for your needs can have a direct impact on your cash flow during retirement. Planning for unforeseen costs is tough, however. It can be mitigated with the right medical coverage.

Learn More About Original Medicare Costs in 2020

  • What is my Part A deductible?

    Medicare Part A  dedutible, for each benefit period, is $1,408 per occurance in 2020. Compared to $1,364 per occurance in year 2019. A $44 increase.

  • How much do I have to pay for my Part A coinsurance?
    • Days 1-60: $1,408 (deductible) 
    • Days 61-90: $352 per day of each benefit period
    • Days 91-150: $704 per day of each benefit period.
  • How much is my Part B premium in 2020?

    The standard Part B premium amount is $144.60 per month (or higher depending on your income).


    Download your Part B Premium Chart HERE.

  • Is my Part B deductible increasing in 2020?

    Yes, the Part B annual deductible for 2020 is $198. That is a $13 increase from 2019. Once your annual deductible is met you pay 20% of Medicare approved amount.

  • What happens if I need skilled nursing care?

    Original Medicare Costs:

    • Days 1-20: $0
    • Days 21-100: $176 per day
    • Days 101 and beyond: No coverage
Even the lucky few that are able to continue their employer sponsored health plans, once retired, is likely that those benefits could change and possibly not cover what they once did. There are many factors to consider before moving forward with an employer sponsored health plan during retirement. What happens if the company is bought out? Has a bad fiscal year? Or simply changes the program? Any of these could potentially change what you pay for healthcare and treatment.

A great benefit to working with LHR Resource Group is our focus on the whole picture. We want to see you successful in all aspect of retirement and healthcare expenses are a big factor in the planning process that other financial professionals would not even consider.

Benefit of Flexibility

While working with over 60 of the most highly rated companies in the country we are able to find the proper products for your specific situation. We will not recommend a plan simply because "that's what every one has". Medicare costs change every year. Your health may change from year to year. Having flexibility in your plan provides you the options needed to continue having the best doctors and treatment options available. 

We will sit down with you and cover the details so you can move forward with confidence. Having that high level of confidence will give you the peace of mind knowing that your healthcare expenses will not drain your retirement savings. By fitting the best plan to your needs removes the burden and wonder of how your health could negatively impact your financial future. 
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