Broker Check

Medicare Mistakes We See With Our New Clients

| August 20, 2019

Our Wealth Management Firm specializes in Retirement Transitions; the first 5 years before a looming Client Retirement and the 5 years following.  We tend to notice that the clients that come to us find this retirement process very confusing.  When to take Social Security, Medicare, portfolio risk, pension decisions, terminated group benefits, 401k Rollovers…. you name it.  All very confusing to them.

One of the most confusing pieces of the retirement puzzle is Health Insurance and mainly Medicare. This is concerning because the cost of healthcare will prove to be one of the largest retiree expenses Retirees who don’t fully understand their Health Care options are at a disadvantage when it comes to the process of controlling those expenses.

Some of the biggest mistakes we see:

  • Not understanding the penalties associated with not enrolling in Medicare
  • Not shopping and/or not reviewing your insurance plan before and after Medicare eligible
  • Using High Deductible plans when taking high cost drugs
  • Using the same insurance carrier as your spouse for convenience
  • Not fully understanding the various insurance riders

I am attaching a few articles that further my point


You only retire once ( for mostJ)…..make sure you do it right!!