Medicare and Medicaid have similar names but are two completely separate government health insurance programs. Understanding the difference can help you and your family plan for aging and retirement. What is Medicare? Medicare is a program administered by the federal government—the Centers for Medicare & Medicaid services—that is essentially available…
Medicaid is a state and federal program that provides medical coverage and payment to eligible persons. The Texas Medicaid program strives to improve the health of Texas who might otherwise go without medical care and treatment. To qualify for Texas Medicaid, the individual must be a Texas resident, a U.S.…
During these unprecedented times, Houston residents have many questions about a potential COVID vaccine and whether it will be covered by Medicare. Medicare is a national health insurance program that provides insurance for Americans 65 or older and some younger individuals with a disability. Similarly, Medicare Advantage is a type…
The unknown about spending in retirement is not just whether it will be higher or lower, but when during the course of retirement, you’ll be spending more or less. If you downsize, housing costs will decrease, but if you travel more, recreational spending will rise. According to a recent article…
Life before Medicare was a real struggle for seniors without healthcare coverage. Today’s program still works wonders, but it doesn’t cover everything. Once you turn 65, you are eligible to take part in the Medicare system of healthcare. It can be a little confusing to apply, and sometimes a little…
Start with the basics, to make sure you’re making informed decisions. Created in July 1965 as part of the Social Security Act, Medicare is how most adults over age 65 cover their healthcare costs. Medicare has four parts. They are Part A: Hospital, Part B: Outpatient Services, Part C: Medicare…
Ben Franklin said, “An ounce of prevention is worth a pound of cure.” That’s why Medicare provides free screenings and examinations focused on prevention. Yes, you still have to spend a lot of out-of-pocket money on healthcare, but a recent article in AARP ,“10 Free Services Medicare Provides,” reports that…
The cost of long-term care insurance may not be cheap, but the cost of long-term care is extremely expensive, and is only moving higher. Long-term care insurance is costly, but health care costs for seniors who need long-term care could easily undo decades of retirement planning. Here’s what you need…
A large percentage of Americans require assisted living care at some point during their senior years. Their understanding of how that gets paid for is way off base. It’s a hard lesson to learn. Approximately one-third of Americans (34%) thought that Medicare would cover their nursing home costs, as reported…
Higher fees are coming to high earners, when income thresholds for the highest surcharge tiers drop even further next year. If you were hit with premium surcharges for Medicare Part B and Part D already, these costs will increase again in 2018, according to a recent article in Kiplinger, “Medicare…