Navigating Healthcare and Aging: Event Replay
By Potentia Wealth
09/27/21
As part of our work with you, our team brings together groups of experts to answer questions and provide guidance in the many areas of your financial life. Few areas are as confusing as choosing the right healthcare coverage for yourself as you age or for parents who are facing complex choices with important implications on health and financial well-being.
While there are many unknowns, such as how much care you need and when, the one thing we can count on is that healthcare is expensive, and the cost is increasing faster than inflation. To help make choosing the right plan for you a little bit easier, Potentia Wealth recently hosted a discussion with experts in the healthcare and insurance industry who specialize in helping clients navigate the many choices available. During this event, Potentia’s Sandy Swanson was specifically joined by:
- Julie Brajenovich, who offers expertise in a full range of products and services. Julie helps clients navigate choices around Medicare Supplement Insurance, Medicare Advantage Plans and Part D Prescription Drug coverage through most small and large carriers throughout California.
- Keri Landrum, who provides a no-cost service for individuals and families who are exploring options for senior care outside of the home. With a master’s degree in gerontology, she has been working in this industry for over 30 years to make sure she finds the right level of care, social environment and cost.
Together, Swanson, Brajenovich and Landrum discussed the main options for retirement and the proper steps you can take to ensure you receive the right care at the right cost. Some of the specific topics covered throughout this discussion included:
- An overview on Medicare and Medicaid, what makes the two resources different and special plans that incorporate benefits from both
- The recommended steps to take at age 65 when it comes to enrolling in Medicare
- How Medicare impacts your Health Savings Account (HSA) and ability to contribute
- How to determine if your healthcare needs can be met inside or outside your home
- The role family members can play in aging relatives’ healthcare decisions
- Aspects to be mindful of before joining a Continuing Care Retirement Community (CCRC)
- The importance of not giving personal information to healthcare websites and who you can trust instead
- An overview of Medicare enrollment, special enrollment and annual enrollment and the proper steps to take to enroll
Throughout the discussion, Swanson, Brajenovich and Landrum emphasized that when it comes to planning for future healthcare, there is no such thing as starting too early. Having these conversations sooner rather than later can help you select the best choice for your unique needs and ensure you have the proper financial plan in place.
If you have any questions about navigating your eldercare choices or are interested in learning about any of our future events, please do not hesitate to contact us. We are here for you as a resource and look forward to providing continuing education so you can be better prepared for whatever life changes may come your way.
Professionals associated with Potentia may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and offer investment advice through Strategic Wealth Advisors Group a registered investment advisor; or (2) solely tax professionals of Enabled Nation, LLC DBA Potentia Tax and not affiliated with LPL Financial. Tax related services offered through Enabled Nation DBA Potentia Tax . Enabled Nation DBA Potentia Tax is a separate legal entity and not affiliated with LPL Financial. LPL Financial does not offer tax advice or tax related services. Potentia, Potentia Tax and Strategic Wealth Advisors Group are not affiliated with LPL Financial.