Making
Retirement
Easy!
Let us help you by...
finding the best Medicare Plan
the most affordable Life Insurance
and ways to protect your Income
Personalized Plans, No Hold Times!
Have a local agent customize plans for your needs and avoid those annoying automated phone systems and long hold times!
Medicare Advantage Plans
Did you know that over 70% of Medicare recipients are on an Advantage Plan? Let us make sure you are enrolled in the best plan for your needs, such as Doctor and Prescription Networks.
Life Insurance
You are ready for retirement but what about the group plan you was enrolled in while working? Only 2% or less of group plans ever payout because you must die while employed for it to cover you. I can help customize a policy that you own and will protect your family financially.
Retirement Funds
Are you ready for retirement and not sure what to do with your 401k or IRA? At this age you cannot afford any losses in the Money Markets. Let me show you how a Fixed Index Annuity can protect your retirement and create a lifetime of income!
Where do I begin?
Allow Senior Retirement Planning to take care of the transition. There are no fees for my services and you get one on one assistance with a local agent, a native of the Ohio Valley! Not to mention skipping those automated phone systems and long holds on toll free numbers. As your Agent I take care of your needs and inquiries!
Frequently Asked Questions
Common Questions Answered for your convenience.
Is there a waiting period for Life Insurance?
When coverage begins is based on your age and health. Most of the time I can find a product with a standard rating with day one coverage. Schedule a call with me to verify underwriting guidelines.
Who is eligible for a Medicare Advantage Plan?
Be eligible for Medicare. Be enrolled in both Medicare Part A (Hospital Insurance) and Part B (Medical Insurance)Live within the plan's service area, which is based on your county of residence. Pay the Medicare Part B premium. Not have End Stage Renal Disease (ESRD) at the time of enrollment
Do you offer Term Policies or Indexed Universal Life Policies?
Yes! I offer up to 30 year Term Policies, with Living Benefits. Also Universal Policies that are common for self-employed contractors, and this also has an option for a Long-Term Care Rider to protect your assets if you ever need Nursing Facilities or in Home Health Care.
Should I have my money in the market?
Having investments in the Money Market is perfectly fine when you have time to recover from losses in the stock market. When you are nearing retirement your funds need to be protected from losses.
When can I enroll in Medicare?
Typically within 3 months of your 65th Birthday. Annual Enrollment Period for Medicare is October 15th through December 7th every year.
Can I keep my employer health insurance and enroll in Medicare Advantage Plan?
Yes, you can. You actually may want to drop your employer insurance and save some money. If you keep both, your Employer's plan will be billed first and then what is not covered will go to the secondary provider, i.e. Medicare. For more information schedule a consultation.
When can I change my Medicare Advantage Plan?
Typically October 15th through December 7th annually, or if you are already enrolled in a plan you can change that plan January through March.
If you are on Medicaid then you have more opportunities to change your plan throughout the year. Please feel free to contact me for more information.
Can I keep my current doctor with a Medicare Advantage plan?
LPPOs - Preferred Provider Organization plans (PPOs) do not require you to choose one primary care physician. Instead, you can see any doctor or specialist you wish to. The services may cost more if you visit doctors outside of your plan.
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"Navigating Your Retirement: A Comprehensive Guide for Turning 65 and Beyond"
This e-book is designed to be your go-to resource as you approach this significant milestone in your life. Whether you’re just beginning to think about retirement or you’re already on the cusp of this new chapter, this guide aims to provide you with the information and tools you need to make informed decisions.
Are Annuities a good investment?
Benefits of Fixed Indexed Annuities
1. Principal Protection: Your investment is safe from market downturns, ensuring you won't lose your principal or gains.
2. Growth Potential: Earn interest based on a stock market index, like the S&P 500, without directly participating in the market.
3. Steady Income: FIAs can provide a guaranteed lifetime income, helping you avoid outliving your savings.
4. Tax Advantages: Earnings grow tax-deferred, allowing your money to potentially compound faster.
5. Flexibility: Choose how you receive income, whether as a lump sum, periodic payments, or a lifetime stream.
6. No Contribution Limits: Unlike IRAs and 401(k)s, FIAs have no contribution limits, offering more investment opportunities.
7. Predictability: Enjoy stable, predictable returns with protection against market losses.
Downsides to Consider
1. Complexity: FIAs can be complicated, with formulas for calculating interest credits that are hard to understand.
2. Caps and Rates: Interest caps and participation rates can limit your returns.
3. Surrender Charges: Withdrawing funds early can incur significant fees, although you typically have 10-20% access annually without penalties.
4. Fees: Various fees, such as administrative and rider fees, can reduce your overall return.
5. Lower Returns: FIAs might yield lower returns compared to direct stock market investments due to caps and fees.
6. Inflexibility: Once purchased, FIAs offer limited flexibility for changing your strategy or accessing funds without penalties.
7. Long-Term Commitment: Designed for long-term investment, FIAs may not suit those needing short-term access to funds.
8. Company Risk: There's a risk that the issuing insurance company could become insolvent, though top-rated companies mitigate this risk. I work with only Top A Rated Companies with strong financial portfolios.
What is a Medicare Advantage Plan
A Medicare Advantage plan, also known as Medicare Part C, is an alternative to Original Medicare (Part A and Part B) offered by private insurance companies approved by Medicare. These plans provide all of your Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) coverage, and often include additional benefits such as prescription drug coverage (Part D), vision, dental, hearing, and wellness programs.
Medicare Advantage plans must cover all the services that Original Medicare covers except hospice care, which continues to be covered under Part A. Some Medicare Advantage plans may also require you to use a network of healthcare providers or may offer different costs and coverage rules, so it's important to review each plan's details carefully to understand what is included and any out-of-pocket costs.
In summary, Medicare Advantage plans combine the benefits of Medicare Part A and Part B with additional coverage options, providing a more comprehensive insurance package compared to Original Medicare alone.
Over 70% of Medicare Recipients are enrolled in an Advantage Plan.
What's the difference between Medicare and a Medicare Advantage Plan
Understanding Original Medicare vs. Medicare Advantage
Original Medicare
1. Structure:
- Part A: Covers hospital stays, skilled nursing, hospice, and some home health care.
- Part B: Covers doctor services, outpatient care, medical supplies, and preventive services.
2. Coverage:
- Available nationwide.
- No referrals needed; see any doctor or hospital that accepts Medicare.
3. Costs:
- Part A: Usually no premium if you or your spouse paid Medicare taxes.
- Part B: Standard monthly premium, deductible, and coinsurance/copayments.
4. Benefits:
- No prescription drugs (Part D), dental, vision, or hearing coverage.
5. Supplemental Coverage:
- Many buy Medigap to cover additional out-of-pocket costs.
Medicare Advantage (Part C)
1. Structure:
- Offered by private insurers.
- Combines Part A and Part B, often with extra benefits.
2. Coverage:
- Must cover all Original Medicare services plus extras like vision, dental, hearing, and prescription drugs.
3. Costs:
- Monthly premium in addition to Part B premium.
- Deductibles, coinsurance, and copayments vary by plan.
- Often lower out-of-pocket costs.
4. Network:
- Typically requires using plan’s network doctors and hospitals.
- Some out-of-network coverage at higher costs.
5. Flexibility:
- Often managed care (HMOs or PPOs).
- May require referrals for specialists.
Why Choose Medicare Advantage?
Medicare Advantage plans offer extra benefits like reduced cost-sharing, dental coverage, gym memberships, and over-the-counter medical supplies, which are not covered by Original Medicare.
Summary
Choosing between Original Medicare and Medicare Advantage depends on your healthcare needs, preference for provider networks, additional benefits, and cost considerations.
Our Mission
Senior Retirement Planning's Mission is to make the Retirement Process for Seniors Easy and Educational, and because I am local, the experience is personable. This includes enrollment in the appropriate Medicare Plan, Making sure Life Insurance is in place, and protecting your Retirement Income for Life!
Contact Us
(606) 363-0408
5900 US 60 West Ste C, Ashland KY 41102
Serving our community and surrounding communities in Scioto County, Lawrence County, Gallia County in Ohio, Cabell County, Wayne County, Putnam County and Kanawha County in West Virginia, Boyd County, greenup, Lawrence County, Carter County in Kentucky
Ashland, KY