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:

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

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.

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.