Tag: Medicare

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Medicare: What You Need To Know With Lukas Baker (Ep. 44)

Medicare: What You Need To Know With Lukas Baker (Ep. 44)

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Ready to retire but unsure about your Medicare options? Want to learn how to choose the plan that fits your lifestyle and budget?

Tune into this insightful episode of Maximizing Outcomes, where host Jim McGovern and Lukas Baker, founder of Baker Consulting Services, dive into the intricacies of Medicare planning. As a specialist in health insurance needs, Lukas provides crucial insights into Medicare’s various parts and offers strategies for managing out-of-pocket expenses in retirement.

Key Highlights:

  • Understanding Medicare: Get a clear explanation of Parts A, B, C (Medicare Advantage), and D
  • Filling Medicare Gaps: Learn about Supplemental and Medicare Advantage Plans to safeguard your finances
  • Ancillary Products: Discover how they complement Medicare Advantage and lessen expenses.
  • Enrollment Essentials: Understand the crucial timing for Initial, Annual, and Special Enrollment periods
  • Tailoring Your Plan: Find out how to match your Medicare plan with your healthcare needs, including preferred doctors and travel plans
  • Choosing Providers: Guidance on switching between Medigap and Medicare Advantage plans, and navigating underwriting
  • Managing Prescriptions: Strategies for choosing pharmacies and handling the ‘Donut Hole’
  • Advocacy in Healthcare: Learn the difference between HMO and PPO plans and how to advocate for your best care.
  • Plus more insightful tips and strategies!

Connect with McGovern Wealth Group:

Connect with Lukas Baker:

About Lukas Baker:

Lukas Baker, an experienced health insurance professional, specializes in Medicare planning, offering services in various health insurance areas, including dental, vision, and supplemental coverages. He advocates for a personalized, client-focused approach, providing comprehensive consultations to navigate Medicare’s complexities. His firm, Baker Consulting Services, based in Western Pennsylvania, caters to a diverse range of clients, including those under 65, early retirees, and those nearing Medicare eligibility.

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DNU
Debunking Social Security Myths With Elaine Floyd, CFP® (Ep.12)

Debunking Social Security Myths With Elaine Floyd, CFP® (Ep.12)

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Are you properly claiming your Social Security benefits?

Most people don’t put enough careful thought into Social Security claims and this mistake can leave you with a reduced retirement income.

In this episode, Jim McGovern talks with Elaine Floyd, CFP®, and author of Savvy Social Security Planning For Boomers. She debunks some of the most common myths about Social Security and shares effective methods that maximize retirement income. 

Elaine discusses:

  • Why you shouldn’t bank on the fear of Social Security cuts 
  • How retirement income for Social Security is calculated and how you can maximize that income
  • Why higher earning spouses should claim at age 70 to maximize the survivor benefit
  • Why retirees should consider auxiliary benefits if they become widowed or divorced 
  • And more

Resources:

Connect with McGovern Wealth Group:

Connect With Elaine Floyd:

About Our Guest:

Elaine Floyd, CFP® is the director of retirement and life planning at Horsesmouth, a New York-based company that helps financial advisors develop business, advise clients, and manage their practices. She is the author of Savvy Social Security Planning for Boomers and Savvy Medicare Planning for Boomers, two comprehensive training programs designed to educate financial advisors on the important government benefits available to clients when they retire. After 20 years as an independent financial writer of books, articles, and white papers for the financial services industry, she joined Horsesmouth in 2008. Elaine is an authority on Social Security rules and strategies as a result of her intense interest in the subject and analysis of hundreds of cases which have been brought to her by Savvy Social Security Planning program subscribers. Floyd has been quoted in The Wall Street Journal, U.S. News and World Report, Kiplinger’s Retirement Report, and Robert Powell’s Retirement Weekly. 

 

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