William Penn Life, 2017 (52. évfolyam, 1-12. szám)
2017-10-01 / 10. szám
Agents' Corner Hanlon mS523 ^ kirk@ramebraska.com iarm north of Loup g'/ VCirk grevj UP d fr0m c°"ege,'education Neb., and ^'tha deS^rk taught sch°0'aninsurance and "ars until entering been a WPA sa'e P 2004' ,. Harrington who is .,k is married to ^J^O*** ^ j aradé teacher at u V children, ‘stÄ and Kirh have three Jeff, Megan, and Sydney. Jeff is married to Nichelle Harrington, and they are expecting their first child in December. Loup City is a rural town in the center of Nebraska. Kirk has served on many boards in Loup City and the surrounding area, including the Sherman County Foundation, his church’s board, the village board, the Loup City Housing Authority Board, the Loup City Chamber of Commerce and the Loup City Golf Club Board. WPA is one of Kirk’s favorite insurers because of the great customer service its members and agents receive, which is second to none.Q care and supplemental insurance. As you can see, that is a very large number! Health care is the big ticket expense for most retirees, especially given the ever-rising costs and the likelihood of needing long-term (nursing home or home health) care. If you're not prepared for these expenses, they can put extreme pressure on other aspects of your retirement plan, as well as limit the choices you can make later in life. Today’s Medicare Many people are surprised to learn that there are costs involved with the Medicare program. Even if you have paid into the program your entire life, you'll face additional costs associated with the Medicare Insurance program. Statistically, Medicare only covers around 62% of retirees' total health care expenses, leaving many individuals responsible for the rest of the costs. Only 32% of your healthcare related expenses will be paid to Medicare, the balance of expenses (45% for Medicare copays and deductibles and 23% on average for prescription drug, dental and eye care expenses) will need to be paid out of pocket. Even though Medicare covers many services and medical expenses, there are costs that will fall into the coverage gaps—and will need to be paid out of your pocket. To cover this gap, many retirees turn to supplemental insurance programs or choose to continue coverage offered through their previous employer, if available. Signing up for Medicare is one of the first major decisions you face in retirement. Eligibility begins the month you turn 65, and there are penalties if you don't sign up when eligible, and don't have creditable coverage. Starting to plan. The first step in planning for a comfortable retirement and planning for your potential future health care costs is knowing what to expect. The good news is that, according to the survey, 75% of baby boomers who have discussed retirement planning with their advisor or agent have also indicated that they are making plans for the potential impact of future health care related expenses. This is where your William Penn Association agent or broker can help. While we can't give legal or tax advice, many of our agents are educated in the area of senior health care planning, Medicare and the variety of options that are available to you today. Why not call on your William Penn Association agent today? They can help you plan for a comfortable retirement, including strategies to help reduce the impact of taxation and the increasing costs of health care. Don't have an agent or don't know who to call? Give us a call at the Home Office. We'll be glad to assign a local agent or point you in the right direction. That's it for now. Happy Halloween! D WILLIAM PENN LIFE 0 October 2017 0 5 Agent Profile
