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This will be Betty's last year to endure the swampy water of the Healthcare Marketplace. Ever since 2011 she has had to put up with the same crap....misinformation, provider lists that are wrong, fewer choices. and higher prices.  In 16 months she will be Medicare-eligible....we can hardly wait. Like last year, there is one company in Arizona offering plans for the individual market through the marketplace. Predictably, prices went up 20%. That included a higher deductible, lower hospital cost coverage and a switch to a different hospital system. Whether her primary care doctor or any of the specialists she sees will be under contract for next year is impossible to know until sometime in January, or too late to do anything about it.  We do qualify for a monthly subsidy from the government that keeps the total affordable, even with the large monthly bump in price. But, this turmoil every year is taking its toll on my wife. With lawmakers in Washington unable to either kill...

When I retire do I need insurance is a  question that I am asked with some regularity.  Well, that should be simple.  You have retired. Your need for anything other than Medicare, auto, home or other health insurance is over, right? Not so fast.  There are at least five different insurance products that may be important to your retirement financial planning. Let's take a look at each one: Medicare Supplemental Insurance Medicare is a tremendous health insurance program for those 65 and older.  It is a blessing after years of dealing with the complicated mess that is the American health insurance system. Even so, you must be aware that Medicare does not cover some important expenses. The Original version usually covers only 80% of your expenses. While that seems quite generous, an expensive hospital stay or operation could means you are responsible for thousands, or even tens of thousands of dollars in costs. Medicare does not pay for most drugs. I...

One of my brothers is fast approaching decision time about Social Security and Medicare. While visiting him during our just-concluded RV trip, he asked if I would give him an overview of what his choices are. Not only was I glad to do so, but his questions seemed like an excellent topic for this blog. The questions are paraphrases of his concerns: Question 1: " I want to wait until I am 70 to start receiving monthly Social Security checks. Do I have to notify anyone when I reach my full retirement age?"  Answer: You are allowed to sign up for Social Security three months before  you want to start your benefits. Your first check (actually a direct deposit to your bank account) will not arrive until the fourth month, but that is how the system works. This timing applies whether you want to start at the earliest age of 62, full retirement age (66 for most of us), or any time after that. The size of your monthly check depends not only on earning credits built up during y...