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Navigating Changes, Generational Needs, and Common Misconceptions in MEDICARE
Whether you're new to Medicare or have been using it for years, understanding the latest changes and how they impact you is crucial. Our blog post today will explore important Medicare updates for 2025, focus on how different generations can maximize their benefits, and debunk common Medicare myths. Medicare Changes & Updates: What's New in 2025? As we step into 2025, several significant changes are coming to Medicare and Medicare Advantage plans that could affect your health coverage and benefits. Here’s what you need to know: Expanded Digital Health Integration: [...]
Understanding Medicare Advantage Plans for Dual Eligibility: Maximizing Benefits for Medicare and Medicaid Recipients.
Navigating the world of healthcare can be overwhelming, especially for individuals who qualify for both Medicare and Medicaid. Fortunately, Medicare Advantage plans provide an opportunity to enhance your healthcare coverage significantly. In this blog, we will explore the benefits of Medicare Advantage plans for those eligible for both programs, highlighting the advantages that go beyond what Original Medicare offers. What are Medicare Advantage Plans? Medicare Advantage, also known as Part C, is a type of health insurance plan that is an alternative to Original Medicare (Part A and Part B). [...]
Navigating Retirement: Understanding the Benefits of Index Annuities
Retirement planning can feel overwhelming, especially with the uncertainty of the market. Finding a strategy that balances growth potential with the security of your principal is crucial. That's where index annuities can play a significant role. At First Manhattan Financial, we help clients navigate these complex financial decisions, offering tailored strategies to meet individual needs and goals. What is an Index Annuity? An index annuity is a type of contract that offers the potential for growth tied to a market index (like the S&P 500), while protecting your principal from [...]
Understanding the Affordability in Medicare: Comparing Medicare Advantage and Medicare Supplemental Plans
Navigating the world of Medicare can be overwhelming, especially when considering the cost implications of various plans. Two common options are Medicare Advantage and Medicare Supplemental Plans (also known as Medigap). Understanding the differences between these plans, especially regarding costs, networks, and enrollment rules, can greatly assist beneficiaries in making informed decisions. Let's explore these aspects further. Medicare Advantage vs. Medicare Supplemental Plans: A Cost Perspective Medicare Advantage Plans - Cost: Medicare Advantage plans often have lower monthly premiums compared to Medigap plans. Some plans might even offer a [...]
Understanding Medicare Open Enrollment: A Guide for Beneficiaries.
As a Medicare beneficiary, it’s crucial to stay informed about your health insurance options, especially during the Medicare Open Enrollment Period (OEP). This designated timeframe allows you the opportunity to review and adjust your Medicare plans to suit your healthcare needs better. What is Medicare Open Enrollment? The Medicare Open Enrollment Period occurs annually from October 15 to December 7. During this time, beneficiaries can make changes to their Medicare coverage. You can switch from Original Medicare to a Medicare Advantage plan, change Advantage plans, or switch to or from [...]
Should I Roll Over My 401K When I Retire?
Newly retired persons should choose what to do with the money in their company-sponsored 401( k) plan. You can generally keep your 401( k) with your former workplace or roll it over into a specific retirement account. IRAs save the tax benefits of your 401( k) plan and offer you more investment alternatives. However, many situations make good sense to maintain your money in the 401( k) plan. Right here's just how to decide what to do with your 401( k) when you retire: You can begin 401( k) [...]
COVID vaccine in NYC. What do I need to know? What is next?
The most usual question we get in our office is "Should older adults get the COVID-19 vaccine?" The answer is "YES"! It is very important to get vaccinated, especially the older adults, because they are at the highest risk of being very sick or even dying from the CORONAVIRUS. In New York, at this time (Mid-March, 2021), the vaccine is available to specific groups of people. All people over 60 years old are eligible to get the vaccine. The plan is to start vaccination of all other people who [...]
How to choose the best medicare plan
Selecting the Right Medicare Plan You desire Medicare coverage that fits the method you live and helps you achieve your health goals. With the ideal instructions, choosing your Medicare plan can be very easy. Ask us to assist you in finding the coverage that fulfills your total health requirements. Summary: In a nutshell, below are some tips for choosing the best Medicare Supplement (Medigap) to prepare for your needs. Comprehend your coverage requirements and budget plan Register throughout the Medigap Open Enrollment Period Explore any potential discounts Know when [...]
Medicare Annual Enrollment Period
When to Apply for Medicare There are numerous times to enroll in Medicare, and each of those times has specific guidelines around applying and when coverage will begin. Comprehending when to enroll and the best time to do so is an essential part of getting Medicare. Preliminary Enrollment Period The Initial Enrollment Period (IEP) is the first time to sign up for Medicare and sign up with Parts A, B, C, and D throughout this time: 3 months before 65th birthday, Birthday month, and 3 months after the birthday. [...]