Ep 59: Retiree Health Insurance Part 2: Pre-Medicare

10/15/20 • 42 min

1 Listener

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

Healthcare is a primary concern, especially for retirees. Transitioning from employer-provided coverage you've been on for decades is stressful. Now you have more complexity and choices than ever before. And, yes, costs may seem sky high after retiring and before Medicare.

Listen in to hear Kevin and health insurance expert Zig Novak discuss health insurance options from the time you retire to before you can begin Medicare at age 65. Should you take COBRA? What types of plans and are available for Affordable Care Act (ACA or Obamacare) plans, and how much do they cost? How do ACA tax credits work, and how valuable are they? Get informed.

Get destressed. Know what you need to about this important topic to Retire Smarter.

Timestamps:

4:00 - Pre-65 Healthcare Planning

8:15 - Floating Cobra

14:27 - ACA Plans

26:00 - Tax Credits

31:37 - Verifying Your Income

Contact:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-893-7526

Schedule: http://bit.ly/calltruewealth

Get destressed. Know what you need to about this important topic to Retire Smarter.

Timestamps:

4:00 - Pre-65 Healthcare Planning

8:15 - Floating Cobra

14:27 - ACA Plans

26:00 - Tax Credits

31:37 - Verifying Your Income

Contact:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-893-7526

Schedule: http://bit.ly/calltruewealth

Previous Episode

Ep 58: Retiree Health Insurance Part 1: Medicare

Listen in to hear Kevin and health insurance expert Zig Novak discuss Medicare-related topics. What will it cost? How may costs change as you age? What are the pros and cons of supplemental and advantage plans, and how do you decide which may be better for you?

Get informed with useful information to help you Retire Smarter.

Timestamps:

2:56 - Special Guest Zig Novak

5:18 - Alphabet Soup Of Medicare

8:09 - The Costs Of The Different Parts

21:28 - Services That Medicare Doesn’t Cover

23:24 - Advantage Versus Supplemental Plans

33:25 - Switching Between Plans

Contact:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-893-7526

Schedule: http://bit.ly/calltruewealth

Next Episode

Ep 60: Why The Cheapest Investment Option May Not Be The Best

The purchase price of your car is one factor to consider. But the Total Cost of Ownership -- adding in costs for insurance, fuel, maintenance and repairs, as well as the residual value upon sale -- is a better way to evaluate financial aspects of a car purchase. In doing so, the cheapest vehicle is often more expensive than initially perceived.

Same too goes for selecting investments. Many solely use the expense ratio to determine what fund to buy. But while the expense ratio is important and easily observable, it does not tell the whole story. In fact, it may tell only a small part.

Listen to Kevin describe total investment costs and related factors to consider when choosing your investments. Having a more complete view will help you make smarter decisions.

Timestamps:

0:53 - The Election

8:55 - Kevin’s Burrito Story

12:51 - Expense Ratios

17:24 - Securities Lending Revenue

21:16 - Helping A Client Understand This Process

24:49 - How Do You Reach A Conclusion?

Contact:

True Wealth Design Website: http://www.truewealthdesign.com/

Call: 855-893-7526

Schedule: http://bit.ly/calltruewealth