You’re nearing a milestone in life: Retirement. It’s usually a time to jump with joy and start planning out vacations, getaways, and what you’re going to do with all of that free time. But something may be nagging you: healthcare costs. Everything today seems to be increasing in cost, and healthcare is no different. What are some ways in avoiding this and focusing on your retirement plans? There may be an answer for you and your medicare insurance.
Most people of any age figure they’re going to be building enough money in their various accounts to pay for retirement and everything that comes with it, but they’d be surprised to learn that costs are ever increasing. Medicare is broken into two sections, Part A and B, with Part A covering hospital care. Medicare Part A is free for most enrollees, while Part B charges a monthly premium for it’s outpatient services. The monthly premium can vary, and increase as each year goes by, leaving less and less in your savings as previously thought, making your retirement plans shorter. There may be some good news for seniors coming in 2021, though.
Lawmakers are proposing a bill to cap Medicare Part B for the coming 2021 year. What this means is that the monthly premium which was varying and increasing most years, would be capped to 25% of what it could have potentially increased to in 2021. That’s great news for seniors looking to retire and live the good life, without having to worry about constant increasing costs. Everybody needs a security blanket once nearing retirement, and Medicare is a great way in ensuring your health and wellbeing is taken care of. Cost of living may still be on the rise, however, and every senior should feel prepared when taking the plunge into retirement. Do you know what your plans are and if you’re covered for any emergencies?
ABI Works for You!
Rolling into retirement, the last thing you want to worry about is which insurance and plans are right for you. With Absolute Best Insurance in Palm Beach County, we have you covered, no matter what your retirement plans might be. Need help navigating life insurance for yourself, loved ones, or indemnity plans? ABI can help with that. Have questions on your health insurance plans? ABI can help with that too. Need to choose the right Medicare supplement plans, and don’t know where to start? ABI is here to help!
Absolute Best Insurance is the premier leader in helping seniors get the best insurance for their individual needs. Specializing in Medicare coverage insurance, ABI helps navigate all the twists and turns of preparing, and then living, retirement to the fullest. Give us a call today to schedule your retirement plans with one of our 70+ agents who are ready to work for you!