Medicare Part D was signed into law in December 2003 by President George W. Bush, and retirees began to sign up for these Medicare-approved private prescription drug plans in 2006. Part D gave retirees the option to purchase prescription drug coverage through Medicare. Since then, 51 million people have enrolled in prescription drug plans. Enrollment […]

Your parents are enrolled in Medicare and they’re insured for hospital, outpatient visits and drugs, so their basic health needs are covered. Well, yes and no. Don’t be blindsided. There are some glaring gaps in coverage–especially when it comes to an aging population–and you should be aware of those gaps and what you can do […]

Every fall, Medicare recipients–your parents included–are bombarded with notifications about the upcoming “open enrollment” period and their options for switching coverage. As you read them, be aware that these notifications basically are advertisements for the different plans. This annual “open enrollment” period, currently from about October 15 through December 7, should not be confused with […]

Most people, including your parents, sign up for Medicare when they “retire” and hit 65, unless one or both of them still works and they may be covered by an employer’s health plan. But retirement at age 65 is not as fixed as it once was. Maybe because people are living longer, maybe because they […]

Most people over 65 know all about Medicare, what it costs, what it does and doesn’t pay for, even why it makes financial sense to pay extra for a Medigap or supplementary insurance policy to help with deductibles and co-payments. These policies are sold by private insurance companies, but exactly how these policies supplement the costs […]

Medicare is the federal program that pays for medical services provided to individuals who have reached the age of 65. Medicare only covers eligible services, which are typically those provided or ordered by a doctor to help a patient recover from an injury or illness. Medicare does not pay for services that are not medically […]

Most people are familiar with the social security benefits that the federal government pays to qualified individuals who reach a designated age. Most people are also aware that the Social Security and Supplemental Security Income Disability programs provide assistance to some people who are unable to work because of a disabling physical or mental condition. […]

When you were a child, you depended on your parents. Now that your parents are older, they depend on you. That role reversal does not come naturally to the elderly. They are often uncomfortable seeking or taking advice from their children, particularly concerning financial issues. Financial security after retirement is nevertheless an issue of vital […]

Medicare is a federal program that pays certain healthcare expenses incurred by patients who are 65 or older. It also pays those expenses for patients of any age who suffer from a qualifying disability. Medicare pays a fixed rate for most medical services, including doctor visits and hospital admissions, if those services are meant to […]