Video Series – #6: Your Advisor – This 1 tip can help save a ton of time and headaches throughout retirement. Oh, and also potentially thousands of dollars!
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Hey all you Michiganders out there on Medicare, it’s Sara Hornick with Hudson Wealth Management in Traverse City. And I’ve been doing a series of tips. If you’re a Medicare recipient, tips that can save you thousands of dollars in 2021. However, if you haven’t seen the previous little video clips, you really should go back and check them out.
We’ve talked about;
- Special benefits for those on Medicaid and Veterans
- Comparing Medicare Premiums
- Tying up loose ends
Boy we’ve had a lot of discussions about Medicare. The final discussion that I want to have with you, is when you are going about getting your Medicare health insurance coverage, whether that be a supplement or an advantage plan, you definitely want to make sure that you are working with an independent advisor whose going to be with you long term.
Now what does that mean?
If you look at the illustration that I’ve put on there you see there is 3 parties.
There’s an advisor, there’s a company and there’s a client. If an advisor is independent, they don’t do what this fella is doing by going to the company first and then to the client. An independent advisor is going to the client first because everybody’s situation is different and unique. Some of you may want or need a Supplement with Aetna, Mutual of Omaha, Blue Cross or Priority. An independent works with all of the companies and all of the choices. You may need an advantage plan with Priority or Blue Cross. See the advisor needs to come to you to figure out what your needs are. Then go find the company, not the other way around.
A captive advisor only works with one company, so that’s all that they can sell you. Whether it’s the best for you or not. So you want to make sure that you go with a long tern advisor. Medicare is not a set it and forget it type of deal. It changes, changes, changes, changes. You’re going to see premium increases, I have seen premium decreases maybe like twice in the last 10 years, but I have seen the,. Your premiums are going to change okay? Your plan, if you have an advantage plan specifically, those are standardized, those can change. Your health conditions may change which will cause you to look at another option which is going to help with whatever is happening with your health. So that may change.
And then Medicare itself changes.
Medicare this year has had some changes and we’d be happy to share those changes with you. That’s not in this video, but we do have a guide to the changes in Medicare that we definitely can get to you! Give it to an independent advisor who you can trust and let them help you with this decision. Its what they do, you don’t pay them the companies pay them. And that’s what they do everyday right? That’s what we do everyday at Hudson Wealth Management, is help folks like you find the best coverage for your premium dollar.
You shouldn’t be worrying about your health insurance. You should be like these young folks here, its like “The hills are alive with the sound of music” right? You should be planning your next winery tour, I don’t know whatever these folks are doing. Enjoying the sun and dancing in a field that’s what you should be doing, enjoying your retirement.
So give us a call we’d love to do an independent review for you. And it doesn’t cost you anything. Were here to help, happy to help. Until I talk to you again, have a great day!