Maximize Your Medicare (5th Edition) Now AvailableMedicare is the cornerstone of retirement planning in the United States.The reason is simple: healthcare costs, as people age, represent the single largest threat to a person's financial and personal well-being. It affects more than a single person. Family members and those that support the individual are all inevitably affected. The circle of people affected is much wider than that (spouses, adult-age children, advisors, caregivers, healthcare professionals, etc). Virtually every adult in the U.S. is affected by Medicare.The Rules Are ComplicatedThe reason that people misunderstand Medicare is that while the language looks the same as other health insurance, but it actually works differently, in important ways.Enrollment eligibilityLate enrollment penaltiesSeparate health and prescription drug componentsFinancial assistance at federal and state levelsSpecial enrollment exceptionsMaximize Your Medicare is written so that consumers understand the wide variety of choices they have, and when. Maximize Your Medicare also points out the pitfalls that one can avoid, if and only if the consumer understands the rules correctly. Health insurance is ultimately a financial contract, and Medicare is a very specific type of health insurance. While intimidating and confusing to many, Medicare's rules largely favor the consumer, as long as the consumer fully understands those rules.Selection is ComplicatedThere are a wide variety of choices available, and some of those choices change every year. Maximize Your Medicare clarifies the key differences among the choices, in language that everyone can understand. The beauty of Medicare is that it does not discriminate: every person has the exact same rights and options when first turning 65 years old.That does not mean that every person will choose the same path. The number of combinations that can influence "what is best for you" is too large to count. Here is a very short, and incomplete list of some of the factors facing all consumers.Financial resourcesPersonal / family health historyPrescriptions requiredHealthcare provider accessMaximize Your Medicare provides real-life examples, called "This Happens," which highlight both the mistakes that people have made in the past, and the fortunate outcomes when the consumer considers his/her situation thoroughly.The Rules Are Not EnoughMaximize Your Medicare distinguishes itself by attaching common sense exercised by everyone, everyday. There are 57 million Medicare beneficiaries, and approximately 10,000 turn 65 every day, something that will continue for the next two decades. While it may be convenient for others to claim that they can "fix" or "improve" Medicare, the demographic and fiscal reality is that this single issue will be on the top of the national agenda.While convenient to "find someone else to blame" for the lack of complete information available, Maximize Your Medicare is written so that the consumer (and those around him/her) can deal with Medicare in a practical, well-reasoned way. Maximize Your Medicare is written with the idea that every stakeholder (the Medicare consumer, physician, hospital, pharmaceutical, attorney, etc) is acting rationally, within the rules that they must follow. Maximize Your Medicare is a guide to help consumers, within those same set of complex rules.About the AuthorMr. Oh is a nationally-recognized Medicare expert, one of three expert panelists on MyMedicareAnswers.com, powered by one of the nation's largest Medicare carriers. He has appeared in person in front of seniors, professionals, and companies. He has been quoted in the national press (USA Today, nasdaq.com), and on talk radio stations. Mr. Oh is a...
- Jae W. Oh
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Jae W. Oh (Author)
Jae W. Oh, MBA, CFP® , CLU® ChFC® is a Certified Financial Planner, and nationally recognized Medicare expert.
Mr. Oh is one of three expert contributors on www.mymedicareanswers.com, a website powered by Humana, one of the nation's largest carrie...