Wealth Management Blog | WrapManager (59)

What’s the Difference Between Traditional Medicare and Medicare Parts C and D?

Posted by Michael J. O'Connor | CWS®, Vice President Investments

September 23, 2013

In our previous post on Medicare Parts A and B, we outlined some of the basic features of Traditional Medicare, which provides hospital and medical coverage to those enrolled. While Traditional Medicare will cover many of your basic medical needs, some people choose to explore other types of healthcare plans because of various costs and different types of coverage available.

In this piece, we’ll explore Medicare supplemental insurance plans as available through Medicare Advantage and Medicare Part D. Both are offered through private insurers, and most plans require premiums, co-payments and deductibles.

Medicare Part C (Medicare Advantage): Costs and Benefits

Medicare Part C is an alternative to Medicare Parts A and B, and it must by law provide coverage “equivalent” to Parts A and B.¹ If you purchase a Medicare Part C plan it will replace your coverage through Medicare Parts A and B. With a Medicare Part C plan, you don't have to pay Medicare Part A and Part B deductibles and co-payments, because Medicare Part C plans have their own deductibles and co-pays. You would, however, still have to pay Part B premiums.²

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Medicare Healthcare in Retirement

Brookmont Capital Named as the Top US Large-Cap Value Manager

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How Does Traditional Medicare Factor Into Your Healthcare Coverage in Retirement?

September 18, 2013

Traditional Medicare is another name for Medicare Parts A and B. Most people are automatically enrolled in Parts A and B and receive their benefit cards 3 months before their 65th birthday. You’ll be automatically enrolled if you’re already receiving Social Security retirement benefits when you turn 65.1 If you’re not automatically enrolled and want to apply, there is a seven month window to join: three months before your 65th birthday, the month of your 65th birthday, and three months after your 65th birthday. If you miss that window, there is “General Enrollment” every year between January 1 and March 31.1 Below we’ll break down the differences between Medicare Part A and Part B. Medicare Part A: Costs and Benefits Part A usually requires no premium payments, though there are some deductibles and coinsurances associated with coverage (more on these costs below). Part A covers hospitalization, or inpatient care. This includes hospital care, nursing facility care, nursing home care, hospice, and home health services.2 [+] Read More

Understanding Your Options for Healthcare Coverage in Retirement

September 17, 2013

The Basics of Medicare Parts A, B, C, D, and Medigap As you enter retirement or approach the age of 65, there are a lot of questions about what happens next: When should I start taking Social Security? How should I diversify my portfolio to ensure my long-term investment goals are met? Equally important is setting up your healthcare coverage. You’ll need to consider your healthcare needs, what coverage options are available to you, what the cost is going to be, what your budget allows, and so on. In our four-part series on Medicare, we’ll examine details about your healthcare options in retirement, to give you a foundation for making informed decisions as you build your comprehensive financial plan. [+] Read More

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Coming Upon Final Act of Interest-Rate Saga - Eagle Asset Management

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Eagle Asset Management's monthly commentary focuses on their predictions as to where interest rates will be and the affects it will have on the economy and markets. "Where will the 10-year Treasury be in three years? Will it be closer to 2 percent or 5 percent? I’m now wrestling with this question because the fiscal drag on the economy from the sequester will gradually fade over the coming months. The U.S. Federal Reserve’s tapering talk suggests it sees stronger growth ahead and there have been signs of economic stabilization in Europe and China. We could be close to moving on from the 2008 crisis, in which case interest rates should normalize. Or it could be another false dawn with growth disappointing and rates rolling over again." Download Eagle Asset Management's Full Commentary Here Get Free Research Reports on Eagle Asset Management [+] Read More

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Are There Tax Incentives Associated with Long-Term Care Insurance?

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