Medicare provides great healthcare coverage. For many on the low-income spectrum, it’s a life-saving benefit. However, Medicare does have expenses that can add up, and an emergency can leave one’s bank account depleted, if they do not plan well.

There are options available that will ensure if you have an unplanned medical emergency or diagnosis that will provide the money needed, so you do not have to dig into your savings accounts. Some of these options include:

• Hospital Indemnity Insurance (sort of like AFLAC for Medicare)
• Cancer riders that renew, to provide the monies necessary to meet your maximum-out-of-pocket limit
• Final expense insurance to ensure your family isn’t saddled with extreme expenses upon your death

Find out what these options have to cover and get a quote. You may be surprised at how much it DOES NOT cost to protect your retirement.

Contact us at Righteous Advisors for a FREE, No Cost, No Obligation consultation and have peace of mind knowing ALL your options. Remember, knowledge is power if only it’s used.

Prescription drugs are expensive and keep going up. Even though you may not have a copay because they fall in tiers 1 and 2 on your drug plan, it doesn’t mean they are free. Your insurance plan pays on the back-end the cost of the medication.

Once you AND your plan spend $4,660, you will fall into the donut hole, where you are liable for $2,740 for your medications before they pay anything again. However, there is help.

Find out if you qualify for the Extra Help program which:

• Makes up to $5,300 available to your insurance company for your medications, so you do not fall into the donut hole.
• Locks your copays at a low $1.40 to $4.15 for generics who may have a copay, and $10.35 for brand name drugs.

Righteous Advisors can check the qualifications, and if you fall within the parameters, submit a simple form to Social Security to see if you qualify. Make sure to contact us to schedule applying for Extra Help.