Medicare Planning

Fifty-seven percent of baby boomers said they had a "poor understanding" (31%) or know "almost nothing" (26%) about Medicare, according to a recent survey by Bankers Trust. Three-quarters of boomers (72%) did not know that most Americans on Medicare pay premiums, copays, and deductibles. One in seven thought Medicare was free. Only 14% knew that Medicare does not cover long-term care.

A health care crisis is looming in this country, and it is essential for baby boomers to understand what they need to do to prepare for it financially.

At Twombly Wealth Management Group we can help you learn about the following: 

• How Medicare enrollment periods work — and what you need to do to avoid late-enrollment penalties
• How much you can expect to pay in health care costs after going onto Medicare
• How Medicare works with private insurance to provide comprehensive coverage
• Why most people pay too much for private insurance and how you can avoid excess costs
• Why you must plan for higher health care costs in retirement — including the possibility of needing long-term care