Your “Medicare Cuts” Game Plan<\/strong><\/p>\nCuts could take the form of raising your deductible and lowering the percentage of first year medical costs to 50-80% of the first $5000 of your costs. Therefore, you may still be able to obtain Medicare coverage for medical costs, but may have to pay more out of pocket (which may unfortunately cause you to not see a doctor as frequently).<\/p>\n
To cover the difference, life insurance companies and other private insurers could potentially see cuts in Medicare benefits as an opportunity to sell new accelerated benefit riders or supplemental plans to help you pay medical expenses. However, what if you don’t have the funds to pay higher insurance-related expenses? And how will competition and fair pricing be managed if at all?<\/p>\n
The plus side to this debate is that sixty-five year old person today is generally healthier than 40 years ago. Therefore, working past sixty-five may be an option these days, which may mean a longer period for you to save for retirement in the future as well as a continuance in health insurance coverage.<\/p>\n
This story is still developing, and there is still a chance for Medicare to not be touched at all if other budget cuts can be determined. Nevertheless, it’s never too early to review your financial plan and determine how you would cover yourself in the worst case scenarios. Your older self will thank you for thinking ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"
If you’re over the age of sixty-five, you may be in the coveted position to retire and separate from an employer. In separating from an employer, however, you may lose key benefits that you […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[29,19],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts\/1307"}],"collection":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/comments?post=1307"}],"version-history":[{"count":0,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/posts\/1307\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/media?parent=1307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/categories?post=1307"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.pricecapitalcorp.com\/wp-json\/wp\/v2\/tags?post=1307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}