In April 2018, the Centers of Medicare and Medicaid Services (CMS) started mailing new Medicare cards to beneficiaries. The new Medicare card program ends in April 2019. Likely, you have not received your new Medicare card yet. It will have a different look and feel than the one you have been carrying around in your wallet or purse over the last several years. What has changed and why is this important? That is what we discuss today. In this article, we discuss the 10 things you need to know about your new Medicare card.
Veterans: we thank you for your service. If you are approaching age 65, or at this age already, you might be wondering about Medicare and how it works with your Veteran’s Affairs (VA) benefits. The good news? You have options for your health insurance. The bad news? Yes, it can be confusing. In this article, we discuss how your VA benefits work with Medicare. [Read more…]
If you live in Massachusetts, you probably heard that assisted living and long-term care needs are expensive in the state. That is true. According to Genworth’s cost of living study, the average monthly assisted living and nursing home cost in Massachusetts is $5,599 and $11,710, respectively. You may think you will just let MassHealth pay for your long-term care needs. If you do that, you are setting yourself and your family up for potential financial disaster (in our opinion). In this article, we discuss the #1 reason why Massachusetts residents need a traditional long-term care insurance policy. [Read more…]
Traditional long-term care insurance has had a bad rap these days. It seems like everyone knows premiums have increased through the roof. (FYI – they have stabilized.) Moreover, people don’t like the “use-it-or-lose-it” stigma associated with traditional long-term care insurance. We understand. As we have discussed, you will probably need some type of long-term care in your future. So, what will you do? If you are self-employed, you have significant tax advantages of purchasing traditional long-term care insurance. In this article, we discuss several long-term care insurance tax advantages for the self-employed. [Read more…]
When a person is searching for the right final expense or burial insurance, sometimes the breadth of carriers and products makes the process confusing and intimidating. The person becomes frustrated. Then he or she stops this important coverage altogether, leaving his or her family exposed to a potential financial burden. In the article, we offer a review of NGL AssetGuard as well as the NGL Funeral Expense Trust. The combination of the two creates a powerful combination of paying for your funeral expenses as well as protecting one’s assets against nursing home costs.
In our opinion, this insurance could be the easiest and most efficient final expense or burial insurance policy that we have worked with. One caveat: it is hard to compare this to a traditional final expense insurance policy. We will explain why. [Read more…]