Hans, THANK YOU! Wow, you explained the system, so I could understand clearly what the differences are. I turn 65 in 2023 and have been researching for the last month and most of the information was so confusing, but you are the man! I really can't thank you enough. I shared you on my FB page.
I’m only 48, but caring for my dad made me realize how complicated Medicare is and that I should gain a better understanding. Great video! Super informative.
I’m a financial executive approaching retirement knowing little about Medicare. This video was very enlightening. I like that it discussed the decision path rather than just jumping to a proposed solution.
Five minutes into this video I was hooked and hit the "like" button. Nobody ever talks about whether or not to sign up for A & B or why/why not. No one has ever explained exactly what "creditable coverage" really is either. Your presentation is clear, concise, and well-organized.
This is an excellent series of videos. It really clarified the SS/Medicare scenarios. I also had an opportunity to speak directly with Hans and his advice and guidance was indispensable. I highly reccomend himself and his team.
Thank you so very much for your time and caring for all of us that need to make these difficult decisions . You explain so clearly advantages and disadvantages of the choices old farts , like myself, need to make. You are a very helpful person and I appreciate your videos and tutorials. Very helpful. Bless you, your loved ones, and all people you help with your honest and sincere presentations.
I want to say Thank You as this was fantastic video on something that is very scary for my wife and I. Not knowing what to do and confused. You helped walk through it so we now know what to do and feel very comfortable. THANK YOU!
My husband is about to turn 65, began receiving his SS last year @64, right after he retired. We received this huge, confusing book. Husband chunked it in my lap saying, "Figure this out so you can help me decide what to do." 😳 Four pages in I decided to see if there was an informative, non-biased video available to simplify. YES! Thank you, Hans! I think I can help him make a good decision, now! Bless you 100 fold, sir!
Thank you so much for this presentation, I am approaching retirement age and I don't want to get caught having to make decisions without some knowledge. Thanks so much! will keep your information.
Very good information. Just remember you buy insurance based on the future you not the present healthy you. I retired in 2019, healthy and took Traditional Medicare with Plan G. In Missouri this year in 2022 the monthly rate is $155.68 I didn't go to a doctor, no prescriptions, felt great. Last year in 2021 after a fall with broken femur, I was diagnosed with Stage 4 Cancer. I'm so glad I have good coverage with this plan! No co-pays nothing. Just the deductible from Part B and then everything is paid for. My prognosis is good but will be lengthy so my insurance decision at retirement was a good one. I don't have to worry about depleting my life savings or my house! Buy Plan G!
Jody I’ll pray for your cancer to be cured. Missouri has a special law that allows you to exchange your Plan G for a less expensive Plan G in the future regardless of your health. Keep that in mind if your premium goes up substantially in the future. Hans
An informative presentation which was Hans clearly articulated the difference between the Advantage and Supplemental plans and answered the many questions I had as I become eligible for medicare this year. Plan G appears to be the option that would best suit my specific situation - Thanks
Glad my job handled all that. My retirement includes only a small monthly premium with Medicare. No copay’s and no limit on anything I need medically, any doctor, any hospital stay or procedure. $5.00 or less for ANY medicines. Also same for dental and vision coverages. I’m Grateful 😊.
You forgot to mention, if someone decides later to go from a Medicare Advantage back to Tradional A & B, there is a very good chance they will not be able to get a Supplement because of Medical Underwriting (they will ask health related questions).
Awesome video clip! Your explanation is so clear, slow and detailed. It really helps someone like me whose English is not my native language. Thank you so much.
I took my social when I could. I kept working. I took the amount of my SS and put it into a non taxed retirement plan that made additional money in the market and had contributions by my workplace. It boosted my retirement nest money and did not raise my taxes. It would take years of ss checks to make up the difference in my gains which allowed me to retire earlier. Remember, when a spouse dies, you get to take the larger spousal ss check. Also no guarantees on your life span. Every one has to determine for their self.
I'm licensed in NY, TX and 32 other states and anyone needing help choosing the right plan or has any questions about Medicare Supplement and Medicare Advantage plans can call me directly at 929-352-6044. I can send you brochures, documents, forms and other materials and go over all the information with you and there's no cost. Also if clients can't afford Medicare premiums maybe eligible take advantage of the Medicare Savings Program that helps cover the Part B premium 100%. Clients also maybe eligible to save up $2,041.20 or more in Medicare cost. The eligibility requirements are: (2022 monthly income limit for a single person is $1,549, married (living together) is $2,080 and the 2022 Total Resource Limit for single person is $8,400 and married (living together) is $12,600). Anyone interested in learning more and would like to know if they're eligible can give me a call. I'm here to help.
Straightforward and helpful. Also frightening due to its complexity. I need to be sure I understand the Medicare Supplement route: Original Medicare (Parts A & B) + Medicare Supplement + Part D + Dental + Vision. Monthly Costs (Based on Averages in Michigan): Part A = $0.00, Part B - $170.10 (plus IRMA if applicable), Medicare Supplement = $150.00, Part D = $40, Dental = $30, Vision = $25.00 = $410.10/month = $4,921.20/annual And, this does not include the deductibles, coverage limits, out-of-pocket, and excuse the cynicism, other hidden fees and costs. Are these estimates in the ballpark? If so, why would anybody take this route over Medicare Advantage?
You have the money about right if you include dental and vision. The only deductible or copay you will have is the $233 annual Part B deductible. The coverage is very good. Consider the Part C Medicare Advantage route. Many have zero premium and they include dental, vision, and drugs. With that, you will have copayments and deductibles and still pay the $171 for Part B
@@CardinalAdvisors Thank you for the prompt response. I read for Medicare Advantage plans besides the monthly $171.50 Part B premium there is an annual out-of-pocket maximum of $7,550.00. Does that have to be satisfied prior to any benefits kicking in? If so, does that mean the minimum annual expenditure for the insured is $9,608.00 (annua Part B premium + max out of pocket) plus deductibles, copays, and coinsurance?
@@markneistat315 The $171.50 is the Part B premium. It does not count toward the annual out of pocket maximum of $7550. Very few claims approach the $7550 OOPM. It comes from accumulated copayments and deductibles through the year.
It should also be mentioned! Military retirees must have Medicare part A and B to qualify for Tricare as a secondary insurance. Tricare is free, and you only pay for part B Medicare.
Advantage plans definitely make sense under some circumstances. I disagree with you about the biggest drawback with these plans. The biggest drawback is not the necessity of receiving care within a network. The biggest drawback is certainly having the insurance company manage your care.
If you can qualify for Medicaid after age 65 & on Medicare A&B, you can then get extra help with paying the part B premiums monthly & your part D prescription premiums, copays & deductibles. But u must apply for this help after you receive your Medicare card with your medicare #. Call Medicaid office prior to signing up for Medicare to find out what u must do to get help.
Many people have not been made aware of profit driven privately run Direct Contracting Entities(DCE) participating in the publicly funded Medicare program. I and many others would appreciate you doing an informational TH-cam video on DCE's. Just to let you know, I thoroughly enjoy your videos. Thank You
Great info & details concerning Medicare choices . Really appreciate the visual & how well you explained everything. Does G cover being insured while traveling throughout the USA & also oversees / Europe etc etc ? ? Thx 👍
Good info. My situation was somewhat unusual. My wife born before 1955 and I born 7 years later than she took advantage of the restricted claim loophole. I filed at 62 so she could file a restricted claim on my benefits until she reached 70 and then switched to her maxed out benefits. But she passed at 69 1/2. I then filed as a surviving spouse to get her benefits. Not many people talk about "restricted claims"
I hear... Lets say you want G Plan... The Insurance company you select will try and switch you to an Advantage Plan because they can make more money. They are looking for a better commission... Thanks for your Video, it was Excellent and Clear.
Part B is $170.10 .....but you may want to update your video......the Medicare people are charging quarter to quarter...and that is $510.30 every 3 months. Damned expensive if you're not ready for it.
You forgot to mention. While a Medicare Advantage or Part C plan may not charge a "Premium" on some plans, you MUST still pay your Part B premium, which is $170.10 per month for 2022.
Great presentation. I'll go with original medicare and add at supplemental plan - probably from Blue Cross. From what I hear, their high deductible Plan G has a reasonable monthly price. I assume they also have the drug plan. I will find out shortly!
So, what if you had coverage from the V.A. and social security suggested that you only get part A? My husband did that and they said if he gets part B, he will get fined. Except for the fact that he does not have any kind of dental or vision, he does not pay any out-of-pocket costs for medical appts or hospitalization. How would he add dental and vision then?
When you are eligible for Medicare, your Federal subsidy for Obamacare ends so your premium will go way up. Then, your Obamacare is not creditable coverage so you will face penalties later under Medicare
Another great educational video, thanks for educating us. Question Hans, I will be 65 in July and will continue to work. I am covered by my wife's group insurance with an employer that has over 3000 employees and is covered by an HSA therefore I do not need to sign up for "A" or "B" , correct ? Also I have a letter from her group insurance company that it is "Creditable Coverage".
Hi Anna To answer your question directly, no. We work with clients all over the US by phone and ZOOM. I am licensed in California and have over 100 clients there. I would be happy to speak with you myself. Hans Scheil 919-535-8261 or Hans@CardinalGuide.com
When they take your income into consideration for setting the premium, is it based on "earned income"... or do they take entire income...ie, rental income, dividends, capital gains, etc in to account?
Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income. Thanks to fire movement..
I'm 64, almost 65 and have recently been approved for Medicare. Now I'm on the hunt for a medigap policy. There are 3 brokers I'm considering and you're one of the finalists. Does your office offer any add-on services when working with you? For example, some of your videos speak directly to retirement and tax planning, and that's something I would be interested in learning more about. If there are fees for that, I'd like to know, in broad terms, what that might look like.
Within Medicare consulting, we offer the following: -2 CFPs who study Medicare and deliver the service as fiduciaries -Choice of over 40 companies depending on where you live -Assistance with Part D and a selection of companies -Personal service after the sale Value added Financial Planning: -Fiduciary advice regarding the 3 types of long term care insurance -Fiduciary advice regarding annuities & life insurance to secure and finish financial plans -Investment management for 1% or less -Comprehensive Financial plan covering Social Security, Medicare, long term care, IRA/401k, future income stream, estate planning, and income tax planning. $1000 flat fee.
My husband is 17 years younger than me. He still works and I am under his group coverage. I turned 65 four years ago. I DID apply for Part A, but that is it. I probably will not need Part B and D or Part C, for many years. I hope I am not paying penalties when or If I ever am off my spousal insurance coverage !! Whew....now I am scared !!
You will avoid the penalties as long as you sign up for Medicare Part B when his coverage ends. Consider buying long term care insurance for both of you.
Hi🙋🏻♀️I’m going to 64; and actually I’m very interesting in know about this; I will watch again with whole atención! I’m really need all the information to make a decision to maybe be retired at 65. Thank you very much.
Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com th-cam.com/video/J_jq2u9X9eY/w-d-xo.html America’s Medicare & Long Term Care Financing Expert
I’m in a quandary! I’m 64 , as of last week....thought I was still covered by mediCAL because they said I automatically got that from SDA whether I wanted it or not....then I had kidney stones last month, bam! Ambulance and extended ER VISIT...I didn’t even pick up the prescription for the pain, because I didn’t know I wasnt covered...my disability is memory due to grand mail seizure 10 yrs before I even was forced to apply.....State disability....I was 25 dollars short of the Regular disability...I never once had an explanation of anything! Plus, I’m in a County that has been taken advantage of ....they dump the inmates without a home County right here...the poorest county in Calif.....due to what I’ve witnessed....blatantly flaunted County corruption...even the elections official quickly resigned19 yrs and attaining the top pay, all of the Softwares and analytics were being outsourced! That happened in 2010... I called it corruption building...it was too fishy...always too fishy when the ?Demons are in office! Lol sorry! I have to figure out how much I can even afford...I just started collecting mySoc Sec. 2 months ago .. and I get some of my ex’s Retirement. ..total is 1900 to 2100 a month ...and a gallon of gas is over $6/gal! I was in a major ?Wildfire that wiped my home off he map, and all past paperwork was destroyed ! I didn’t realize that the state worker I already had serious problems with, purposely had me canc Elle’s, even lied and said I never attended tthe appointments she set up....3 counties were telling me I had the same appointment the same day at different times. Well I never got he mail...my entire community was obliterated....the Valley Fire, S pt 12 2015. We weren’t allowed back for over 2 months!...it was devastating and was the #3 worst disaster in .cali history at the time....more corruption ...but, I never got any hearing or a chance to report ...basically what I didn’t know, and had every phone call I made to the worker was not returned...,she said “you’re no longer MY problem.” That was the final message I received...and she hung up.
I have not heard this before. How does contributing to an HSA savings account 6 months before you turn 65 come into play? My husband and I both have individual high deductible HSA insurance coverage. I was thinking we could add 6 months worth of $ into his account as he would have his policy or the first 6 months of this year. ( better to not add to I?? We will talk to an agent but not until 3 months before he turns 65 by then we will have funded his account. Thanks in advance
@@smileytow1925 You can only contribute to an HSA if you are covered by a HDHP and not Medicare. When you signup for Medicare and get Part A, the coverage is automatically backdated 6 months and causes you to be ineligible to contribute to an HSA. I planned to start Medicare A & B 02/01 and was informed that my Part B coverage would start 03/01 but Part A would start 6 months ago. I had to withdraw a months contributions as excess.
@@smileytow1925 You're welcome. It was VERY annoying when I stumbled upon it as I was researching prior to my retirement. I actually wanted to front load the full years HSA contribution until I found out that your contribution (unlike a 401k) can only be pro-rated over the time you are covered by the HDHP and not Medicare :(
Wish I'd seen this video earlier...thought once you hit 65 you'd automatically be issued a Medicare card... Life Time Penalties, absolutely terrifying!!! well I'm done, can't afford medical insurance on my job and facing penalties renders me hopeless...
thank you for this video, my question is, I am turning 65 July 2022, my wife doesn't turn 65 for another three years, it seems I have to continue to pay for my BCBS plus one plan, to keep my wife covered, because Medicare A and B and some supplement of some kind, only takes care me, is that so, or is there some other way I can take care of my wife without paying for two health benefit plans, till she turns 65 ? I know A is no cost, but B, is 170.00.
Does people receive Social Security benefit irrespective of the rental income or employment income that they make after 65 years ? As per few videos, I see that the Social security benefit depends on the average salary that we made monthly ( highest 35 year income divided by the number of months). If I had 2 houses where I get a 3000 $ in rent on a monthly basis, does that lower my Social security benefit amount ?
I made the biggest mistake in selecting the wrong insurance carrier after getting A and B. I can't waite for open enrollment to dump this carrier. Its been nothing but problems since I signed up for the other insurance required for the supplement. Let the buyer beware take your time getting coverage. It was bad enough to have a part taken out of my benefits. There are so many good carriers but I selected one that took the money but didn't provide the services that were suppose to do. Joel
Joel I’m sorry this is not working out for you. If you give me a call 919-535-8261 or send me an email privately Hans@CardinalGuide.com, I’ll see if I can figure out a way to change your plan before open enrollment. Hans
You will pay $170.10/ month, no matter what. You pay it to the federal government, monthly. If you elect Medicare Advantage (private health care) instead of Medicare, the Federal government pays that $170.10/ month to the private insurance provider. Either way you pay $170.10
Great tutorial! If I decide on Medicare Advantage would I have the ability to switch to a supplemental plan at a later date without incurring a penalty? Thank you.
No penalties. The only drawback is if you try to change to supplemental after you are sick, you’ll have to go through health underwriting with the supplement insurance company.
Your explanation confirms that I made the right choice for me A, B, G, and D through a local source.
Hans, THANK YOU! Wow, you explained the system, so I could understand clearly what the differences are. I turn 65 in 2023 and have been researching for the last month and most of the information was so confusing, but you are the man! I really can't thank you enough. I shared you on my FB page.
Susan Thank you for sharing. Hans
I’m only 48, but caring for my dad made me realize how complicated Medicare is and that I should gain a better understanding. Great video! Super informative.
I’m a financial executive approaching retirement knowing little about Medicare. This video was very enlightening. I like that it discussed the decision path rather than just jumping to a proposed solution.
@@code_6 No such thing as a Part G
@@deniznouri2754 I believe that they mean Supplement G, along with Medicare A, B & D
Five minutes into this video I was hooked and hit the "like" button. Nobody ever talks about whether or not to sign up for A & B or why/why not. No one has ever explained exactly what "creditable coverage" really is either. Your presentation is clear, concise, and well-organized.
Thank you Hans
This is an excellent series of videos. It really clarified the SS/Medicare scenarios. I also had an opportunity to speak directly with Hans and his advice and guidance was indispensable. I highly reccomend himself and his team.
I never understood why low income people get free full coverage but senior citizens have to pay for insurance! This has been going on forever!
True.
Because it is hardworking middle class who is always being squeezed!
Well said
It’s the way they rip us off from start to finish.
Yep
You are a blessing to those making these decisions I am qualified widower and have not contributed to my own account. Thank you Hahn's.
Hello, Please continue to post such an informative and creative videos. Therefore, people like us will be motivated and learn in real life.
Thank you so very much for your time and caring for all of us that need to make these difficult decisions . You explain so clearly advantages and disadvantages of the choices old farts , like myself, need to make. You are a very helpful person and I appreciate your videos and tutorials. Very helpful. Bless you, your loved ones, and all people you help with your honest and sincere presentations.
Could the government make it any more confusing! Got a headache
Yes, yes they can and they are very busy working on how to make it much worse and more confusing as we speak.
I want to say Thank You as this was fantastic video on something that is very scary for my wife and I. Not knowing what to do and confused. You helped walk through it so we now know what to do and feel very comfortable. THANK YOU!
My husband is about to turn 65, began receiving his SS last year @64, right after he retired. We received this huge, confusing book. Husband chunked it in my lap saying, "Figure this out so you can help me decide what to do." 😳 Four pages in I decided to see if there was an informative, non-biased video available to simplify. YES! Thank you, Hans! I think I can help him make a good decision, now! Bless you 100 fold, sir!
9
Excellent presentation. Hopefully you are still there.
Still here! Thanks. Hans "John" Scheil
Certified Financial Planner™
Cardinal Advisors
2530 Meridian Parkway, Suite 100
Durham NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
One of the best explanations on the Web.
Thank you Hans on a very well informed information on medicare.Will be looking foward to your new video about plan G..
Thank you so much for this presentation, I am approaching retirement age and I don't want to get caught having to make decisions without some knowledge. Thanks so much! will keep your information.
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway Suite 100
Durham NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
I’m turning 65 this year so your presentation was super helpful. I’ll be giving you a call soon!
Very good information. Just remember you buy insurance based on the future you not the present healthy you. I retired in 2019, healthy and took Traditional Medicare with Plan G. In Missouri this year in 2022 the monthly rate is $155.68
I didn't go to a doctor, no prescriptions, felt great. Last year in 2021 after a fall with broken femur, I was diagnosed with Stage 4 Cancer. I'm so glad I have good coverage with this plan!
No co-pays nothing. Just the deductible from Part B and then everything is paid for. My prognosis is good but will be lengthy so my insurance decision at retirement was a good one. I don't have to worry about depleting my life savings or my house! Buy Plan G!
Jody I’ll pray for your cancer to be cured. Missouri has a special law that allows you to exchange your Plan G for a less expensive Plan G in the future regardless of your health. Keep that in mind if your premium goes up substantially in the future. Hans
Great unless you live in new york state
Jody, what about your dental, vision and hearing coverage?
MOST CANCERS CAUSED BY PARASITES, IVERMECTIN HAS HELP MANY.. RESEARCH
I want to thank you for finally giving an explanation about this I can understand.
Presentation is top quality. Highly recommend watching this ….!
Thank you. You have such a calming voice!
Thank you so much Hans for your short video with Medicare information in a very concise form !!! Until now, my head was cluttered, confused. 😄
An informative presentation which was Hans clearly articulated the difference between the Advantage and Supplemental plans and answered the many questions I had as I become eligible for medicare this year. Plan G appears to be the option that would best suit my specific situation - Thanks
Agreed
Bye the way, Hans, thank you for your vids and help.
Very good video. My wife turns 65 in November & we were so confused. You explained this so well. Thank you.
Glad my job handled all that. My retirement includes only a small monthly premium with Medicare. No copay’s and no limit on anything I need medically, any doctor, any hospital stay or procedure. $5.00 or less for ANY medicines. Also same for dental and vision coverages. I’m Grateful 😊.
Not so subtle
I hope it stays that way for you
Great job Hans
Best explanation ever!
I will say it every time. You should have a million plus followers.
Thank you. Hans
You forgot to mention, if someone decides later to go from a Medicare Advantage back to Tradional A & B, there is a very good chance they will not be able to get a Supplement because of Medical Underwriting (they will ask health related questions).
Awesome video clip! Your explanation is so clear, slow and detailed. It really helps someone like me whose English is not my native language. Thank you so much.
Thank you
Another excellent Cardinal lesson. Thanks Hans for the wonderful info you share.
Wery well presented. Now it's all making sense to me.
I took my social when I could. I kept working. I took the amount of my SS and put it into a non taxed retirement plan that made additional money in the market and had contributions by my workplace. It boosted my retirement nest money and did not raise my taxes. It would take years of ss checks to make up the difference in my gains which allowed me to retire earlier. Remember, when a spouse dies, you get to take the larger spousal ss check. Also no guarantees on your life span. Every one has to determine for their self.
I'm licensed in NY, TX and 32 other states and anyone needing help choosing the right plan or has any questions about Medicare Supplement and Medicare Advantage plans can call me directly at 929-352-6044. I can send you brochures, documents, forms and other materials and go over all the information with you and there's no cost. Also if clients can't afford Medicare premiums maybe eligible take advantage of the Medicare Savings Program that helps cover the Part B premium 100%. Clients also maybe eligible to save up $2,041.20 or more in Medicare cost. The eligibility requirements are: (2022 monthly income limit for a single person is $1,549, married (living together) is $2,080 and the 2022 Total Resource Limit for single person is $8,400 and married (living together) is $12,600). Anyone interested in learning more and would like to know if they're eligible can give me a call. I'm here to help.
Think I might be calling you on next week, turning 65 June of this year, but will continue to work.
Great presentation.
Straightforward and helpful. Also frightening due to its complexity.
I need to be sure I understand the Medicare Supplement route: Original Medicare (Parts A & B) + Medicare Supplement + Part D + Dental + Vision.
Monthly Costs (Based on Averages in Michigan): Part A = $0.00, Part B - $170.10 (plus IRMA if applicable), Medicare Supplement = $150.00, Part D = $40, Dental = $30, Vision = $25.00 = $410.10/month = $4,921.20/annual
And, this does not include the deductibles, coverage limits, out-of-pocket, and excuse the cynicism, other hidden fees and costs.
Are these estimates in the ballpark? If so, why would anybody take this route over Medicare Advantage?
You have the money about right if you include dental and vision. The only deductible or copay you will have is the $233 annual Part B deductible. The coverage is very good. Consider the Part C Medicare Advantage route. Many have zero premium and they include dental, vision, and drugs. With that, you will have copayments and deductibles and still pay the $171 for Part B
@@CardinalAdvisors Thank you for the prompt response. I read for Medicare Advantage plans besides the monthly $171.50 Part B premium there is an annual out-of-pocket maximum of $7,550.00. Does that have to be satisfied prior to any benefits kicking in? If so, does that mean the minimum annual expenditure for the insured is $9,608.00 (annua Part B premium + max out of pocket) plus deductibles, copays, and coinsurance?
@@markneistat315 The $171.50 is the Part B premium. It does not count toward the annual out of pocket maximum of $7550. Very few claims approach the $7550 OOPM. It comes from accumulated copayments and deductibles through the year.
Thank you. I was going to screw up. I have an HSA. Great information 👍
Retire at the young age of 62! Take it early and enjoy the Outdoors! Our channel can help you with that!
Great Video Hans ! I now have a better understanding. Heading to Puerto Rico LOL They give and take till we die 😉
Awesome penmanship on your dry erase board!
It should also be mentioned! Military retirees must have Medicare part A and B to qualify for Tricare as a secondary insurance. Tricare is free, and you only pay for part B Medicare.
These videos are so extremely helpful.
@@kevinquinlan7918 glad to hear they are helpful
Very informative.Thank you.
Great information explained in simple terms. Thank you very much!!
this... approaching 65 and this helped clarify a lot.
Thanks for the explanation, Hans, but yikes, USA healthcare systems and administration is a mess.
What are the Lifetime Penalties ? Cost ?
Great great video
Advantage plans definitely make sense under some circumstances. I disagree with you about the biggest drawback with these plans. The biggest drawback is not the necessity of receiving care within a network. The biggest drawback is certainly having the insurance company manage your care.
Great presentation!!
Alot of good useful information.
Thanks so much!!
I'll be 65 in 6 months🤔
I tell it all cuz I'm that excited about these plans! Thanks for your videos! You have helped me better explain to beneficiaries.
very interesting thank you.
Hello Darlene
Super informative, thank you!
If you can qualify for Medicaid after age 65 & on Medicare A&B, you can then get extra help with paying the part B premiums monthly & your part D prescription premiums, copays & deductibles. But u must apply for this help after you receive your Medicare card with your medicare #. Call Medicaid office prior to signing up for Medicare to find out what u must do to get help.
Many people have not been made aware of profit driven privately run Direct Contracting Entities(DCE) participating in the publicly funded Medicare program. I and many others would appreciate you doing an informational TH-cam video on DCE's. Just to let you know, I thoroughly enjoy your videos. Thank You
Great info & details concerning Medicare choices . Really appreciate the visual & how well you explained everything. Does G cover being insured while traveling throughout the USA & also oversees / Europe etc etc ? ? Thx 👍
Thank you for sharing 🙏🏿💕🙏🏿
Good info. My situation was somewhat unusual. My wife born before 1955 and I born 7 years later than she took advantage of the restricted claim loophole. I filed at 62 so she could file a restricted claim on my benefits until she reached 70 and then switched to her maxed out benefits. But she passed at 69 1/2. I then filed as a surviving spouse to get her benefits. Not many people talk about "restricted claims"
Sorry about her passing
I hear... Lets say you want G Plan... The Insurance company you select will try and switch you to an Advantage Plan because they can make more money. They are looking for a better commission... Thanks for your Video, it was Excellent and Clear.
Part B is $170.10 .....but you may want to update your video......the Medicare people are charging quarter to quarter...and that is $510.30 every 3 months.
Damned expensive if you're not ready for it.
Great video, thank you!
Hans, G is not offered in Wisconsin
You forgot to mention. While a Medicare Advantage or Part C plan may not charge a "Premium" on some plans, you MUST still pay your Part B premium, which is $170.10 per month for 2022.
Great presentation. I'll go with original medicare and add at supplemental plan - probably from Blue Cross. From what I hear, their high deductible Plan G has a reasonable monthly price. I assume they also have the drug plan. I will find out shortly!
We can offer you most companies, Part D too, in all 50 states and DC. Thanks Hans 919-535-8261
Wax ex
So, what if you had coverage from the V.A. and social security suggested that you only get part A? My husband did that and they said if he gets part B, he will get fined. Except for the fact that he does not have any kind of dental or vision, he does not pay any out-of-pocket costs for medical appts or hospitalization. How would he add dental and vision then?
We sell dental and vision to people on Medicare. I question how one gets fined for carrying Part B?
Thank you! Great video.
Very informative, thank you!
Is it possible just to stay on Obama care? My Obama care premium is much less than $170 alone - let alone the additional supplement premium $
When you are eligible for Medicare, your Federal subsidy for Obamacare ends so your premium will go way up. Then, your Obamacare is not creditable coverage so you will face penalties later under Medicare
Appreciate quick reply
Good video. What are the Supplement G rates for Georgia?
Give me a zip code in Georgia and I’ll send you age 65, male and female, household discount. Thanks Hans Hans@CardinalGuide.com 919-535-8261
@@CardinalAdvisors 30144
Another great educational video, thanks for educating us. Question Hans, I will be 65 in July and will continue to work. I am covered by my wife's group insurance with an employer that has over 3000 employees and is covered by an HSA therefore I do not need to sign up for "A" or "B" , correct ? Also I have a letter from her group insurance company that it is "Creditable Coverage".
I'm in the same situation. I believe you are correct.
Excellent explanation is there an advisor in Southern California
Hi Anna To answer your question directly, no. We work with clients all over the US by phone and ZOOM. I am licensed in California and have over 100 clients there. I would be happy to speak with you myself. Hans Scheil 919-535-8261 or Hans@CardinalGuide.com
Very informative, thankyou!
When they take your income into consideration for setting the premium, is it based on "earned income"... or do they take entire income...ie, rental income, dividends, capital gains, etc in to account?
I'd like to know about the Plan G High Deductible. Not much information on TH-cam about it.
I plan to do a video on it in a few weeks. High deductible Plan G
Will be watching for HD G. Pls go over medical underwriting on it. Thanks
great stuff. Thank you
Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.
Thanks to fire movement..
Beautiful presentation !! Can I switch from Medicare Advantage to Medical Supplement or vice versa every annual enrollment?
I'm 64, almost 65 and have recently been approved for Medicare. Now I'm on the hunt for a medigap policy. There are 3 brokers I'm considering and you're one of the finalists. Does your office offer any add-on services when working with you? For example, some of your videos speak directly to retirement and tax planning, and that's something I would be interested in learning more about. If there are fees for that, I'd like to know, in broad terms, what that might look like.
Within Medicare consulting, we offer the following:
-2 CFPs who study Medicare and deliver the service as fiduciaries
-Choice of over 40 companies depending on where you live
-Assistance with Part D and a selection of companies
-Personal service after the sale
Value added Financial Planning:
-Fiduciary advice regarding the 3 types of long term care insurance
-Fiduciary advice regarding annuities & life insurance to secure and finish financial plans
-Investment management for 1% or less
-Comprehensive Financial plan covering Social Security, Medicare, long term care, IRA/401k, future income stream, estate planning, and income tax planning. $1000 flat fee.
My husband is 17 years younger than me. He still works and I am under his group coverage. I turned 65 four years ago. I DID apply for Part A, but that is it. I probably will not need Part B and D or Part C, for many years. I hope I am not paying penalties when or If I ever am off my spousal insurance coverage !! Whew....now I am scared !!
You will avoid the penalties as long as you sign up for Medicare Part B when his coverage ends. Consider buying long term care insurance for both of you.
Hi🙋🏻♀️I’m going to 64; and actually I’m very interesting in know about this; I will watch again with whole atención! I’m really need all the information to make a decision to maybe be retired at 65.
Thank you very much.
Great Video!! I shall call you soon. :)
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
th-cam.com/video/J_jq2u9X9eY/w-d-xo.html
America’s Medicare & Long Term Care Financing Expert
I will have to call the social security office
I’m in a quandary! I’m 64 , as of last week....thought I was still covered by mediCAL because they said I automatically got that from SDA whether I wanted it or not....then I had kidney stones last month, bam! Ambulance and extended ER VISIT...I didn’t even pick up the prescription for the pain, because I didn’t know I wasnt covered...my disability is memory due to grand mail seizure 10 yrs before I even was forced to apply.....State disability....I was 25 dollars short of the Regular disability...I never once had an explanation of anything! Plus, I’m in a County that has been taken advantage of ....they dump the inmates without a home County right here...the poorest county in Calif.....due to what I’ve witnessed....blatantly flaunted County corruption...even the elections official quickly resigned19 yrs and attaining the top pay, all of the Softwares and analytics were being outsourced! That happened in 2010... I called it corruption building...it was too fishy...always too fishy when the ?Demons are in office! Lol sorry! I have to figure out how much I can even afford...I just started collecting mySoc Sec. 2 months ago .. and I get some of my ex’s Retirement. ..total is 1900 to 2100 a month ...and a gallon of gas is over $6/gal!
I was in a major ?Wildfire that wiped my home off he map, and all past paperwork was destroyed ! I didn’t realize that the state worker I already had serious problems with, purposely had me canc Elle’s, even lied and said I never attended tthe appointments she set up....3 counties were telling me I had the same appointment the same day at different times. Well I never got he mail...my entire community was obliterated....the Valley Fire, S pt 12 2015. We weren’t allowed back for over 2 months!...it was devastating and was the #3 worst disaster in .cali history at the time....more corruption ...but, I never got any hearing or a chance to report ...basically what I didn’t know, and had every phone call I made to the worker was not returned...,she said “you’re no longer MY problem.” That was the final message I received...and she hung up.
Don't forget the 6 month look back with Part A in regards to HSA contributions.
I have not heard this before. How does contributing to an HSA savings account 6 months before you turn 65 come into play? My husband and I both have individual high deductible HSA insurance coverage. I was thinking we could add 6 months worth of $ into his account as he would have his policy or the first 6 months of this year. ( better to not add to I?? We will talk to an agent but not until 3 months before he turns 65 by then we will have funded his account. Thanks in advance
@@smileytow1925 You can only contribute to an HSA if you are covered by a HDHP and not Medicare. When you signup for Medicare and get Part A, the coverage is automatically backdated 6 months and causes you to be ineligible to contribute to an HSA. I planned to start Medicare A & B 02/01 and was informed that my Part B coverage would start 03/01 but Part A would start 6 months ago. I had to withdraw a months contributions as excess.
Thank you so much for getting back to me so fast! I really appreciate it!
@@smileytow1925 You're welcome. It was VERY annoying when I stumbled upon it as I was researching prior to my retirement. I actually wanted to front load the full years HSA contribution until I found out that your contribution (unlike a 401k) can only be pro-rated over the time you are covered by the HDHP and not Medicare :(
Wish I'd seen this video earlier...thought once you hit 65 you'd automatically be issued a Medicare card... Life Time Penalties, absolutely terrifying!!! well I'm done, can't afford medical insurance on my job and facing penalties renders me hopeless...
@Liz Jo You could apply for extra help at ssa.gov to see if you’re eligible for help with those penalties
You don't mention HD PLAN G?
Where does tricare for life fits into all these?
Tricare for life works like a Medicare supplement for you. Thanks for your service
You didn’t explain group insurance not qualified, veterans or VA? Can I use the VA as secondary insurance
Awesome video! What is Medicare Extra Help?
thank you for this video, my question is, I am turning 65 July 2022, my wife doesn't turn 65 for another three years, it seems I have to continue to pay for my BCBS plus one plan, to keep my wife covered, because Medicare A and B and some supplement of some kind, only takes care me, is that so, or is there some other way I can take care of my wife without paying for two health benefit plans, till she turns 65 ? I know A is no cost, but B, is 170.00.
Your wife can apply for an ACA plan and possibly qualify for a premium subsidy.
Can you get advantage and part d
What if your on rail road retirement can you get a part D plan
Does people receive Social Security benefit irrespective of the rental income or employment income that they make after 65 years ? As per few videos, I see that the Social security benefit depends on the average salary that we made monthly ( highest 35 year income divided by the number of months). If I had 2 houses where I get a 3000 $ in rent on a monthly basis, does that lower my Social security benefit amount ?
The other income does not lower your Social Security check. The other income causes you to pay more federal tax on your social security check.
I made the biggest mistake in selecting the wrong insurance carrier after getting A and B.
I can't waite for open enrollment to dump this carrier. Its been nothing but problems since I signed up for the other insurance required for the supplement.
Let the buyer beware take your time getting coverage. It was bad enough to have a part taken out of my benefits. There are so many good carriers but I selected one that took the money but didn't provide the services that were suppose to do.
Joel
Joel I’m sorry this is not working out for you. If you give me a call 919-535-8261 or send me an email privately Hans@CardinalGuide.com, I’ll see if I can figure out a way to change your plan before open enrollment. Hans
You will pay $170.10/ month, no matter what. You pay it to the federal government, monthly.
If you elect Medicare Advantage (private health care) instead of Medicare, the Federal government pays that $170.10/ month to the private insurance provider. Either way you pay $170.10
Great tutorial! If I decide on Medicare Advantage would I have the ability to switch to a supplemental plan at a later date without incurring a penalty? Thank you.
No penalties. The only drawback is if you try to change to supplemental after you are sick, you’ll have to go through health underwriting with the supplement insurance company.
Do you have any videos on disable adult cchildren and medicare?
I’ll consider it. Thanks Hans
I called to check my Zip code