Five Points to Consider

  1. Four important statements about Social Security
    • Managing your Social Security benefit is an important part of your retirement process.
    • Many believe it is cut and dry, but it’s actually quite complicated.
    • It is a retirement income source with some control.
    • For many it is the largest source of retirement income.
  2. Five important statements about Medicare.
    • Regardless of retirement age, Medicare benefits become available at age 65.
    • You are eligible the first day of your birth month when you turn age 65.
    • If you are already receiving Social Security benefits in the month you attain age 65,
    you are automatically enrolled in Medicare.
    • If you are not currently receiving Social Security benefits, you must enroll to receive Medicare benefits. You can apply three months before reaching age 65.
    • There are four parts to Medicare.
  3. Highlights of the four parts to Medicare
    Part A – Pays for some of the costs for hospitalization, hospice care, and home health services. Usually premium free, but there are copays and deductibles.
    Part B – Primarily covers physicians’ services, most outpatient hospital services, and certain related services. Long-term nursing home care is currently not covered. There is a premium.
    Part C – Includes managed care plans, private fee-for-service plans, and medical savings accounts. May offer extra coverage such as vision, dental, and/or health and wellness programs.
    Part D – Voluntary prescription drug program. It is not available with Part C and you must enroll in Part A or B, or both.
  4. When should you call EMT’s? Only a doctor can diagnose medical problems. But you can protect your family’s health by learning to recognize certain emergency symptoms. Know what to watch for. According to the American College of Emergency Physicians, the following are warning signs of a medical emergency:
    • Difficulty breathing, shortness of breath
    • Chest or upper abdominal pain or pressure
    • Fainting
    • Sudden dizziness, weakness or change in vision
    • Change in mental status (such as unusual behavior, confusion, difficulty arousing)
    • Sudden, severe pain anywhere in the body
    • Bleeding that won’t stop
    • Severe or persistent vomiting
    • Coughing up or vomiting blood
  5. Want to know how long you are going to live? Listed here is a neat life expectancy calculator from Northwestern Mutual Life. It only takes a few minutes and is easy to complete. You might live longer than you think you will. Be prepared to make your money last as long as you do! Secure an advisor, understand these concepts, and let him or her guide you to a worry free and successful retirement!
    First Benefits Group Inc is neither a legal nor accounting firm, and does not render legal, accounting, or tax advice.You should contact an attorney or CPA if you wish to receive legal, accounting, or tax advice.

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