The past week’s decline in equity market valuation is undoubtedly concerning you. I would like you to know that, as said before, the pullback was not unexpected and is not necessarily all bad. I have no major adjustments/corrections to make to existing portfolios. High quality equity investing remains a favorite of mine. While I work on how to find the best of the opportunites this pullback created, I would like you to brush up on your knowledge of Medicare and start thinking about long-term health care issues.
Susan R. Linkous
Good Grief – Medicare
I say “good grief” when I see the complex documents some of my clients come in with from various sources trying to explain medicare, predict its future and supplement it. I say “thank goodness” when a company manages to put a piece of literature out there that helps. AXA Equitable did just that with their publication titled “medicare: filling the gap”. Let me know if you want a copy. The following is from that piece:
“There are four distinct parts to Medicare coverage and it’s critical to have at least a basic understanding of what they are and how they work.
Part A – covers inpatient hospital stays, inpatient rehab facilities, home health services, and hospice. It does not cover long-term care.
Part B – may be referred to as “medical insurance”; covers about 80% of covered costs after deductible; see exactly what’s covered at www.medicage.gov/coverage.
Part C – health insurance plans offered by private companies approved by the federal government but not regulated under Medicare; will provide all of the services under Part A and B, and most prescription drug coverage; may offer vision, hearing, dental and other wellness programs at additional cost.
Part D – prescription drug coverage; must have Part A and/or B to enroll in Part D; does not cover the full cost of all prescription medication, there are monthly premiums, yearly deductible, co-pays, and co-insurance.”
Believe it or not, it’s not that hard to pick a pretty good plan that you’ll be able to live well with. Ask for help. Don’t get overwhelmed.
Until next week,