This is scary stuff. Medicare is critical if you want to retire. Without it most boomers and seniors would have crippling medical costs in retirement. Privatizing Medicare is NOT a solution. It would save the government money but throw the risk, and increasing costs, back on the recipients. And it's not broke! Don't break it!
Over the course of the past four years, I’ve met an increasing number of retirees who have yet to find an enjoyable and productive use of their manifold talents and unbridled energy. Some have been so negatively impacted by retirement that they’re beginning to exhibit signs of depression, and medical issues are beginning to emerge. Given the plethora of needs in the communities where we live, and the talent possessed by retirees, there’s no need for any of us retirees to be bored, nor for needs of the community to go unmet.
We are revisiting what we mean by retirement, and it’s very clear that the definition of what people do even into their 70s is changing a lot, and people are continuing to work full time, continuing to work part time, and that has increased more for women than for men. There has been a big change in family structure, increases in divorce have left women more on their own, they may not be dependent on their husband’s pension or Social Security benefits, and of course women are living longer than men. So they have more need to think ahead to retirement.
We’re about to pay the price for all the good times.
Based on over 40 years of experience, these are guidelines that a retirement expert uses for his own planning. Some key takeaways:
- Work until 70, but not necessarily at the same job.
- Develop sources of retirement income.
- Control living expenses.
- Take care of health.
- Protect against catastrophic health conditions.
- Stay socially engaged.
Medicare benefits extend to a lot of treatments and services, but not all of them. Discover what's not covered, and learn the exceptions to the rules.
- Routine foot care
- Dental care
- Services outside the United States
- Services provided by family members
- Routine hearing and vision
- Long term custodial care
- Cosmetic surgery
- Alternative treatments
The U.S. Is Growing Older. The implications of this demographic shift require attention now. Cities are at the forefront, as their leaders act to help older adults realize healthy, productive, and purposeful lives. Best Cities for Successful Aging examines the capacity of metropolitan areas to address the challenges and capitalize on the opportunities as a new future of successful aging takes shape across America.
Shocking news that some insurance companies, including some of the biggest healthcare insurance providers in the country, have been given permission to "seamlessly convert" beneficiaries who are eligible for Medicare into Medicare Advantage plans. These beneficiaries did not choose the plans, and may find that their doctors are not in the networks. Worse, if the beneficiary was in an employee plan and wanted to be in traditional Medicare after retirement, their placement in a Medicare Advantage plan may make it more difficult to get a Medigap plan after they retire.