Medicare Planning
More people get confused about Medicare than any other issue we have seen. Navigating the complexities of Medicare can be daunting, but as insurance brokers specializing in Medicare planning we can significantly ease this process.
By working with us, you will fully understand the differences between Original Medicare (Parts A and B), Medicare Supplements, Medicare Advantage (Part C), and prescription drug coverage (Part D), helping you understand which combination is most beneficial for you.
We will explain the nuances of enrollment periods and if you may be impacted by IRMAA. Medicare has specific times when you can enroll or change your plan without penalties, like the Initial Enrollment Period, Annual Election Period, and Special Enrollment Periods. We can guide you through these windows, ensuring you don’t miss critical deadlines that could affect your coverage or costs.
We act as an intermediary between you and the various insurance companies that offer Medicare plans. We intentionally limit the number of new Medicare clients we take on an annual basis because Medicare planning requires personalization.
Medicare plans can change annually, and what was once the best fit for you might not be so the next year. We offer ongoing support each enrollment period.
IMPORTANT NOTICE – Medicare has a lot of compliance for insurance agents. No information regarding Medicare will be provided over the phone. A document titled Scope of Appointment is required to be signed prior to any discussion. All Medicare meetings will be in person or recorded via a video call. There are no exceptions to this.
Social Security Maximization
Another area of confusion is when to file for Social Security. It is a constant topic among family and friends. Social Security provides a stable source of retirement income that provides uninterrupted stream of income for the rest of your lifetime. Understanding Social Security is a main factor in having a secure retirement. Everyone may have a different opinion as to when they should claim Social Security benefits, but have you ever learned about the right timing and strategies to maximize your benefits? There are various factors that determine the monthly benefit you are eligible to receive. We are able to provide a visual analysis that details how you can maximize your Social Security benefits.
We conduct webinars specific to Social Security maximization throughout the year and the public is welcome to attend. You can join an upcoming webinar or request the recording of a previous webinar.
Retirement Income Planning
Planning income distribution during retirement is significantly different than earning a paycheck or running your business during your working years. Depending on the person, there can be any combination of income streams from a pension, social security, 401(k), annuities, 403(b), IRA’s and other retirement accounts and savings vehicles.
Many people have accumulated retirement savings through an employer sponsored plan and need assistance in developing a strategy to start drawing from these plans. We partner with a Financial Group with a Certified Financial Planner on staff to develop a comprehensive retirement income strategy. Our goal is to create a strategy that allows you to maximize your income.
Some of the common questions we help you address are below.
- Will you run out of money?
- How much stock market volatility do you want to experience in retirement?
- How do you plan for healthcare costs and long-term care?
- Do you want to leave a legacy?
Lifetime Insurance Planning is not affiliated with Medicare or the Social Security Administration. This material is provided for informational purposes only.