Healthcare - North Light Financial Services

Health Care Costs are Cutting into Retirement Preparations
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Health Care Costs are Cutting into Retirement Preparations

Financial Fitness, Healthcare

Health Care Costs are Cutting into Retirement Preparations

Health Care Costs Are Cutting into Retirement Preparations This is happening in subtle and not-so-subtle ways. You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in health care expenses during the rest of their lives. In fact, Fidelity Investments now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big picture of retirement planning.1 Individual retirement savings strategies [...]

By info@northlightfinancialservices.com|2020-02-13T13:29:23-05:00February 6th, 2020|Financial Fitness, Healthcare|Comments Off

How Medigap Choices Are Changing
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How Medigap Choices Are Changing

Healthcare, Medicare

How Medigap Choices Are Changing

How Medigap Choices Are Changing Plan F is fading away, and Plan G may gain more popularity. Soon, two types of Medigap policies will no longer be sold. Seniors who enroll in Medicare in 2020 or later will be unable to buy Medigap Plan F or Plan C. These are the two Medicare Supplement policies that cover Medicare’s Part B deductible (currently $185).1,2 This change impacts new Medicare enrollees. If you already receive Medicare and you already have Plan F [...]

By info@northlightfinancialservices.com|2019-09-24T10:26:00-04:00September 24th, 2019|Healthcare, Medicare|Comments Off

A Look at HSAs: Health Savings Accounts and Possible Tax Advantages
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A Look at HSAs: Health Savings Accounts and Possible Tax Advantages

Financial Fitness, Health Insurance, Healthcare

A Look at HSAs: Health Savings Accounts and Possible Tax Advantages

A Look at HSAs Health Savings Accounts may provide you with remarkable tax advantages. Why do higher-income households inquire about Health Savings Accounts? They have heard about what an HSA can potentially offer them: a pool of tax-exempt dollars for health care, a path to tax savings, even a possible source of retirement income after age 65. You may want to look at this option yourself. About 26 million Americans now have HSAs. You must enroll in a high-deductible health [...]

By info@northlightfinancialservices.com|2019-04-18T10:48:36-04:00April 11th, 2019|Financial Fitness, Health Insurance, Healthcare|Comments Off

The A, B, C, & D of Medicare

The A, B, C, & D of Medicare Breaking down the basics & what each part covers. Whether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare what they cover, and where they come from. Parts A & B: Original Medicare. Americas national health insurance program for seniors has two components. Part A is hospital insurance. It provides coverage for inpatient stays at medical facilities. It can also help cover the [...]

By info@northlightfinancialservices.com|2017-04-11T14:17:11-04:00March 30th, 2017|Healthcare, Medicare, Personal Finance, Retirement|Comments Off

Managing Drug Costs

Managing Drug Costs How can households meet the challenge? Are prescription drug costs burdening your finances? This problem is far too common today. Consider the price tag of some of the drugs used to treat arthritis, hepatitis C, cancer, and multiple sclerosis. A Kaiser Family Foundation study notes that the cost of medications such as Zytiga, Humira, Gleevec, and Revlimid may run anywhere from $4,000-12,000 a year. For the record, Medicare Part Ds catastrophic coverage threshold for prescription medications is [...]