Retirees Pay More for Medicare – A Financial Planner in Denver Explains How & Why?

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Retirees Pay More for Medicare – A Financial Planner in Denver Explains How & Why?

August 09
08:39 2022

Denver, CO – One of the most unpleasant surprises in retirement is to find out that you suddenly have to pay more for Medicare than you expected. In this article, a Financial Advisor in Denver from A&I Financial Services discusses how and why this happens and what a retiree can do about it.

The vast majority of Americans over the age of 65 are enrolled in Medicare, the federal health insurance program that provides coverage for hospitalization, doctor’s visits, and other medical expenses.

While Medicare is a great program, it doesn’t cover everything. There are deductibles and coinsurance payments that must be made by the beneficiary. And, as discussed further, there are some situations where Medicare beneficiaries can end up paying more than they expected.

One common way this can happen is if a retiree has to go into a nursing home. In most cases, Medicare does not cover the cost of long-term care. So, if a retiree needs to go into a nursing home, they will have to pay for that out-of-pocket.

Another way retirees can end up paying more for Medicare is if they are not careful about the choices of doctors and hospitals. While Medicare pays for most of the cost of doctor’s visits and hospital stays, there are some services that are not covered. For example, Medicare does not cover most dental care. Furthermore, Medicare does not cover regular visits for vision care. So, if a retiree needs to see a dentist or an optometrist, they will have to pay for those services out-of-pocket

Finally, a retiree can end up paying more for Medicare if retiree has lot of medical bills. While Medicare will pay for some of the cost of medical care, it does not cover all of it. So, if a retiree has a lot of medical bills, they may find that they have to pay some of those bills out-of-pocket.

“If you are a retiree and you are concerned about how much you might have to pay for Medicare, there are a few things you can do to minimize your costs. First, make sure you are enrolled in a Medicare Advantage plan. These plans offer additional coverage beyond what Original Medicare provides,” says a spokesperson from A&I Financial Services LLC.

Further he continues, “Second, be choosy about your doctors and hospitals. If you are willing to see doctors and go to hospitals that are in-network with your Medicare Advantage plan, you will likely save a lot of money. Finally, try to keep your medical bills as low as possible. This can be done by getting regular checkups and taking advantage of preventive care services.”

About A&I Financial Services LLC – Denver

A&I Financial Services is a fee-based investment advisor & fiduciary financial planner in Denver, Colorado operating since 1986. A&I offers comprehensive financial planning, retirement planning, investment advice, IRA & 401(k) management, wealth management & life insurance to a small number of successful families and business owners. A&I is a fiduciary. We promise to put your financial interests ahead of our own. Our Certified Financial Planner team has 100 years of combined experience. Our CFP practitioners use an advanced financial planning process to listen and to know your values, goals, relationships and more. Our one-page comprehensive financial plans are also easy to understand. Grow and protect your investments.

This press release was based on the new release originally posted here: https://www.assetsandincome.com/pr/retirees-pay-more-for-medicare-a-financial-planner-in-denver-explains-how-why/

Investment advisory services offered through A & I Financial Services LLC, registered investment advisor. Securities provided through Geneos Wealth Management Inc., member FINRA, SIPC

Media Contact
Company Name: A&I Financial Services LLC
Contact Person: K. Frank
Email: Send Email
Phone: +1 303-690-5070
City: Denver
State: Colorado
Country: United States
Website: https://www.assetsandincome.com/

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