Healthcare Archives

18 10, 2023

Don’t Forget that Medicare Open Enrollment is Here!
Don’t Forget that Medicare Open Enrollment is Here!

Don’t Forget that Medicare Open Enrollment is Here!

BML Wealth Marketing2023-10-18T15:58:21-07:00October 18, 2023|Healthcare, Medicare|

From October 15 to December 7, Medicare has an open enrollment period.[1] This is the time when you can change your health plan and prescription drug coverage to adapt to your needs.[1] Every year, there are changes to Medicare health plans and networks, so make sure that you know if your coverage is changing.[1] If your coverage stays the same and you feel like it’s working for you, then you don’t have to do anything during the open enrollment period![1] There are various ways for you to explore your options when it comes to Medicare. [...]

30 05, 2023

Healthcare in Retirement: The Basics
Healthcare in Retirement: The Basics

Healthcare in Retirement: The Basics

BML Wealth Marketing2023-05-30T06:16:47-07:00May 30, 2023|Healthcare|

Healthcare insurance is a crucial aspect of managing one's health and finances. Understanding its basics can help individuals make informed decisions to help them stay healthy without running into unexpected costs. Here are some important points to keep in mind: Types of health insurance: There are different types of health insurance plans, including health maintenance organizations (HMOs), preferred provider organizations (PPOs), point of service (POS) plans, and high-deductible health plans (HDHPs).[1] Each type of plan has different benefits and costs, and it's important to choose one that suits your needs. Coverage: Health insurance [...]

29 10, 2021

How Will You Want to Receive Long-Term Care?
How Will You Want to Receive Long-Term Care?

How Will You Want to Receive Long-Term Care?

BML Wealth Marketing2021-10-29T08:42:42-07:00October 29, 2021|Healthcare|

There is a shift away from providing long-term care services in hospitals and nursing homes to providing care in individuals’ homes. This was happening before the pandemic, but the trend is now accelerating for several reasons. Many nursing homes did not allow visitors for months during the pandemic, understandably leading to many worried families and lonely older people. There were also concerns about the virus spreading easily among residents. Now is the time to consider how you would want to receive long-term care so that you can live with dignity and comfort down the road. [...]

10 10, 2021

Your Health is Priceless – But How Much Will It Cost You?
Your Health is Priceless – But How Much Will It Cost You?

Your Health is Priceless – But How Much Will It Cost You?

BML Wealth Marketing2021-10-10T21:52:31-07:00October 10, 2021|Healthcare, Medicare|

One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $300,000 to cover their healthcare costs, according to a recent study.[1] Although good health is priceless, it could cost you in retirement. First, know what you can do during the Medicare Fall Open Enrollment period. You Can Switch From Original Medicare to Medicare Advantage Original Medicare consists of Part A, which covers hospital stays, skilled nursing facility care, and some nursing home care[2], and Part B, which covers most doctor services, outpatient therapy, and [...]

11 07, 2021

Retirement Has Changed – Have Your Plans?
Retirement Has Changed – Have Your Plans?

Retirement Has Changed – Have Your Plans?

BML Wealth Marketing2021-07-11T22:35:51-07:00July 11, 2021|Healthcare, Retirement Planning, Taxes|

People are retiring differently today than in the past – just think, will you retire exactly like your parents did? Probably not. Retirement is no longer about the end of a career; it's about the beginning of a new, often quite active phase of life that could last decades. And while this is something to celebrate, it also requires a plan to make savings last a lifetime. Here’s how retirement has changed and what you can do to plan ahead.Today’s Retirees May Have a Greater Tax Burden Retirees of previous generations may not have worried about [...]

14 12, 2020

Don’t Miss These End of Year Healthcare Deadlines
Don’t Miss These End of Year Healthcare Deadlines

Don’t Miss These End of Year Healthcare Deadlines

BML Wealth Marketing2023-03-23T21:29:49-07:00December 14, 2020|Financial Planning, Healthcare|

An average 65-year-old couple retiring today will need an estimated $285,000 to cover their healthcare costs.[1] This doesn’t even include long-term care costs, which can run as high as $253 per day on average for a private room in a nursing home or $119 per day on average for care in an assisted living facility one-bedroom unit.[2] Today's retirees should anticipate these potential costs when creating their overall retirement plan. There may be ways to help save on costs by minimizing your tax burden and with thoughtful planning, such as deducting the cost of qualified [...]