This week on Financial Planning: Explained, host Michael Menninger, CFP®, is joined by Cheryl Lagunilla, Health Insurance Advisor at Focused Health Access, for a comprehensive discussion on Medicare and Medicaid—two of the most important healthcare programs for retirees and those approaching retirement.
In this episode, Mike and Cheryl break down the fundamentals of Medicare, including Part A (hospital insurance) and Part B (medical insurance), before exploring the different coverage options available, such as Medicare Advantage (Part C), Medigap (Medicare Supplement Insurance), and Part D prescription drug coverage. They also discuss how Medicaid works alongside Medicare, who may qualify for additional financial assistance, and the programs that can help reduce healthcare costs.
The conversation also covers critical Medicare enrollment deadlines, common enrollment mistakes, and how to avoid costly late enrollment penalties that can impact your healthcare expenses for years to come. Whether you're approaching age 65, helping a family member navigate Medicare, or simply planning ahead for retirement, this episode provides practical guidance to help you make informed healthcare decisions.
Listeners will gain valuable insight into:
Understanding your healthcare options is a critical part of successful retirement planning. This episode helps simplify the often-confusing Medicare and Medicaid landscape so you can make confident decisions about your coverage and future healthcare costs.
For more information on Menninger & Associates Financial Planning, visit: https://maaplanning.com.