Health Services
Long Term Care, Medicare & Disability IncomeHealth Services
Long Term Care, Medicare & Disability IncomeMedicare Overview
Medicare and all that comes with it is often frightening. It is an increasingly more complicated process yet one that also increasingly vital to your stress free retirement years. Did you know that to cover their retirement health care costs, a healthy 55-year-old couple may consume 92 percent of their social security benefits? Or that total projected lifetime health care premiums for a healthy 65-year-old couple retiring this year are expected to be $321,994 in today’s dollars ($485,246 in future dollars)? These are staggering figures, and they highlight how important it is for advisors like myself to guide clients through potential health care expenses in retirement.
Medicare Coverage:
Part A
Generally covers inpatient hospital services
Part B
Usually covers doctor and outpatient services
Part C
Known as Medicare Advantage and is an alternative to original Medicare Parts A and B plus D
Part D
Prescription coverage
*Part C typically offers drug coverage, plus vision and dental care. Individuals must first enroll in original Medicare to be eligible for Part C Medicare Advantage. The cost of the plan may be the same as original Medicare, but there could be additional charges depending on the plan selected.
Are You Asking The Right Questions?
With numerous aspects to Medicare there are many questions one needs to ask themselves. Basic questions from who is eligible for medicare, to more complicated ones including, who gets what, what is credible, and who pays first (You, Employer, Insurance Co, etc), to name a few. With our 40+ years of experience in the medicare field we are confident that whatever questions you may have, can be answered with a quick phone call!
Disability Income
Another focus of ours at Krug Financial Services is Disability Income Insurance. Have you or someone you know ever been injured either on the job or elsewhere and been unable to work for an extended period of time? Causing yourself to lose half or all of your household income?
There are over 51 Million American workers working today without Disability Income Insurance and the amount of people becoming sideline from work due to illness or injury is increasing. In California (and the entire United States as well) workers compensation and social security do not cover the entire amount needed for all of life’s unexpected challenges.
Make Sure You Have A Plan
Whether we want to believe it or not, all of us are getting older and the possibility of becoming injured or falling ill rises with our age. The most common causes of short term as well as long term disability leave, amongst others, are Musculoskeletal Disorders, Cancer, Pregnancy, Mental Health issues as well as injuries such as fractures, sprains, and strains of muscles and ligaments.
Who Will Support Your Family?
All of the aforementioned are rather common instances within most of our families, friends, or networks, making it that much more important to find coverage today. If you become injured or fall ill, losing your income – who will support your family or your own well being? Call today to discuss your immediate coverage options!
Long Term Care Insurance
The need for long term care services as well as the costs associated continue to increase with each passing year – making an already difficult conversation become that much tougher.
The fact is, those of us living beyond our 60’s are likely going to require one form or another of Long Term Care. No one wants to burden their children or loved ones, so why do so few people have Long Term Care Insurance coverage?
Depending on the policy options you select, long-term care insurance can help you pay for the care you need, whether you are living at home or in an assisted living facility or nursing home. The insurance might also pay expenses for adult day care, in home care, care-coordination, hospice and/or other services.
Call today to make sure you’re properly covered for the unexpected twists and turns of life in your latter years!
LTC Statistics
%
The expected percentage of people turning 65 who will have a long-term care need during their lifetimes.
The number of Americans expected to have a high long-term care need by 2050.
Annual Median Rate of Private Nursing Home Room in 2017
Annual Median Rate Of Adult Day Health Care in 2017
Receive A Free Consultation!
Randall A. Krug, LUTCF
30472 Almira
Laguna Niguel CA, 92677
Receive A Free Consultation!
Randall A. Krug, LUTCF
(949) 249-9020
30472 Almira
Laguna Niguel CA, 92677