The Retirees2019-06-26T12:40:03-04:00

Client Story: The Retirees

  • Mid-Sixties

  • Married

  • Retired

  • Confused about healthcare choices

The Situation

Many years ago, Alice and Joe recognized that they needed guidance to ensure that they could achieve their financial goals, including a long and happy retirement. They started working with our team, and we meet with them yearly to discuss any changes to their situation or goals, adjust their plan and portfolio, and answer any questions.

As they began to approach retirement – they had both recently turned 64 – they were considered about their healthcare. The questions they asked reflect common concerns among our soon-to-retire clients, including:

  • When should we elect our Medicare benefit?
  • What should we be considering if we elect this benefit at age 65?

  • What supplemental medical plans are available to best complement our Medicare election?

Joe and Alice wanted to be sure they had all the information they needed to make the best choices for their situation.

How We Helped

While we do not sell Medicare Supplemental Plans, we do have a trusted network of specialists that we frequently work with, who we refer our clients to. We do not receive any referral fees; we are simply motivated to help our clients achieve their goals.

We arranged for Joe and Alice to meet with a specialist, who provided in-depth answers to their questions based on their personal details and outlined key deadlines. The specialist also helped them set up a custom plan to meet their current and future needs.

We communicated with Joe and Alice, as well as their specialist, to evaluate the financial impact of their elections and adjust their financial plan accordingly. We also reminded Joe and Alice to establish a schedule to routinely review their healthcare needs and priorities and encouraged them to schedule an annual meeting with the specialist to review their coverage and potential alternative solutions.

  • When should we elect our Medicare benefit?
  • What should we be considering if we elect this benefit at age 65?

  • What supplemental medical plans are available to best complement our Medicare election?

Key Lessons

Healthcare is a significant consideration as we age. Making Medicare elections can be a confusing process. It can be costly if mistakes are made, deadlines are missed, or you choose the wrong plan. Some elections are irreversible, so you want to get it right the first time. These are the key lessons we can learn from Joe and Alice:

  1. If you’re approaching 65, consult a Medicare Supplemental Plan Specialist to make an informed decision with the help of an expert
  2. Evaluate your healthcare elections on a routine basis to ensure that they continue to be the best options because your health can change, and so can plan features and coverage
  3. Establish an annual review meeting with a specialist to ensure that your current plan meets your needs and review alternatives
  4. Even if you’ve already made elections, it’s not to late to see if any changes can or should be made in the future

We believe in providing comprehensive support for our clients that addresses all aspects of their financial lives. If we can’t provide expert guidance on a particular topic, we can always point you in the right direction – just ask! For more information, visit the Medicare website.

Get Help With Your Medicare Election Process

Get Started

Avoid costly mistakes, missed deadlines, or incomplete coverage. We can help you coordinate your Medicare process so that you can create a custom Medicare Supplemental Plan that fits your needs.

Get Help With Your Medicare Election Process

Read Other Client Stories

We work with clients in various stages of life. Read our featured client stories to learn more about the support we can provide to help you make confident decisions about all aspects of your wealth and achieve your financial goals.

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