Retirees’ most commonly identified retirement threat is reduced Medicare benefits. That’s ahead of reductions in Social Security, market volatility, and insufficient retirement savings.
Medicare pays for a big share of retirees’ health care expenses — nearly half, in fact. However, it doesn’t cover everything. Health care costs have a big impact on retirement planning, and Medicare involves making several choices and meeting important deadlines. Understanding some of the various provisions of Medicare is essential to making the most of this benefit.
For many without employer-provided health care, the Affordable Care Act may offer the first opportunity to purchase affordable insurance. Those with an entrepreneurial spirit (but a family to protect) may be willing to step away from their employer’s coverage and take a chance pursuing their dreams. Even the gap between an early retirement (forced or otherwise) and eligibility for Medicare coverage may no longer be a period of high financial risk.
On October 1, your state’s Health Insurance Marketplace will open its digital doors to health care window shoppers. Whether you’re looking forward to the Affordable Care Act with anticipation, dread, or a shrug, every American will be impacted, whether directly or indirectly.
If there’s ever been a topic to give someone a heart attack, it’s health care reform.
A lot of rumors and spectulation are going around about the Affordable Care Act, (aka Obamacare) and its impact on Medicare. Sometimes, the stories are pretty scary. Of course like most rumors, at best they’re exagerations and at worst they’re just wrong.