Eileen OHara

Comments:

• It will definitely be a season of changing Part D plans from what had been pretty steady monthly premiums. To add to the complexity, specialty Tier 5 drugs may not be covered at all by a range of plans, or only covered for generic versions. The $2000 cap is in effect for 'covered' drugs. In my area two zero premium plans will be offered by Well Care, but the devil is in the details for particular drug costs for each individual. I understand that WellCare has dropped broker commissions so many brokers may not be promoting that Part D plan either. Checking the Plan Finder on medicare.gov is especially critical to fully understand total costs of drugs for 2025.

  Post: Turned Upside Down

  Link to comment from October 5, 2024

• I appreciate #2, keeping fixed living costs as low as possible. Ah - insurance. The past few years have jolted some of those fixed costs - with car insurance jumping 17% in places; homeowners insurance spiking across the board. The Wall Street Journal this week reported that such insurance premiums are likely to stay at these higher levels despite lessening inflation. A reset of fixed living costs for many. For those on Original Medicare, prices for Part D insurance premiums this year will be all over the board. My Part D plan was $3.30; in 2025 will be $38.30. A friend's plan announced a zero premium in 2025, but marked increases in drug tiers. Lots of musical chairs to find the best plan for each individual. Medicare Advantage plans are likely to add more costs too. It's critical this year to make an informed choice, otherwise more fixed cost shocks in January. Unfortunately, many folks don't check each year.

  Post: My Spending Rules

  Link to comment from September 28, 2024

• Hi Mark and Rick, I, too, volunteer for the national SHIP program in my state (KS, known as Shick). I have enjoyed volunteering. Not sure of the VITA tax prep training, but our training was extensive: first online, then passing a test and criminal background check, then all day training (virtual or in person) plus yearly all-day update trainings. There is so much to absorb about Medicare that at first it is daunting. But there are excellent training sessions and in my case, terrific fellow volunteers who share their insights. So many nuances in individual situations. I think having a financial perspective helps, too - not that we offer financial advice, but we can explain consequences. For example, one friend was retiring and her advisor told her to withdraw a chunk of funds for a new car. But the advisor didn't mention that 'a chunk of funds' would increase her income/AGI and in two years she and her husband could both be subject to an income adjustment on Medicare Part B premiums. She was not a happy camper. THere are calls to handle throughout the year. Those turning 65 or new to Medicare take more time whether in person, Zoom calls or group presentations. I am still seeking the holy grail of how to visually depict the choices in Medicare to mitigate the confusion. The busy season is the annual open enrollment. We are gearing up for a very busy time with expected changes in prescription drug pricing (Part D) and some Medicare Advantage changes. Some insurers are exiting the market; nearly all MA will be making changes due to financial pressures.

  Post: Medigap pricing question

  Link to comment from September 3, 2024

• Hi Rick, well MaxiFi is having a Labor Day sale and I've just subscribed. I will let you know after I spend some time with the reports. I find that exploring some of these other tools can be helpful, especially after reading thoughtful reviews like yours. I don't want to become mired in rabbit holes of course, but digesting different approaches can be useful. Better than mindless TV. In addition to many sources mentioned in HD, I also follow Tom Canfield of nesteggcare.com. Tom offers clear explanations of his assumptions and spreadsheets. Thanks for your comments.

  Post: Retirement Calculators

  Link to comment from September 2, 2024

• Rick, given your experience, would you recommend MaxiFi? I have read about it for several years and wasn't sure about subscribing. As you noted, it offers a different perspective. I understand the concept of consumption smoothing but I keep thinking that I often have 'lumpy' consumption more often than not.

  Post: Retirement Calculators

  Link to comment from August 30, 2024

• I have been trained as a SHIP counselor in my state for the past several years. It is a highly rewarding volunteer mission - perhaps similar to those here at HD who assist with tax returns. The training takes significant time with annual full-day mandated sessions; that process can deter some folks. I am grateful for veteran volunteers who have been counselors for a decade or more- they help everyone guide through nuanced situations that arise all the time. Medicare choices are indeed financial decisions which are daunting for so many. Those who join Medicare after years of robust corporate health coverage face a reckoning with the monthly costs. Others who struggled with individual coverage before and with the ACA are often thrilled with lower monthly premiums. Myriad issues: when to enroll or delay; how to enroll; how to decide which coverage works best for a specific individual; and - now more then ever- how to check coverage every fall as drug formularies and doctor/hospital networks change within current plans. It is rewarding to help individuals demystify Medicare. There is so much more to do -across the country many folks with limited incomes are still unaware of programs to help pay for coverage. Reaching them is hard.

  Post: This deserves a rant. The United States approach to paying for healthcare is a joke.

  Link to comment from August 17, 2024

• What beautiful insights Jonathan. When my husband faced a similar diagnosis, he, too, concentrated on work he wanted to complete and gatherings with family and friends. Yes, together we sought second and third opinions at Mayo and elsewhere, but the realities of the diagnosis meant that he focused on making the most of time the way he chose at home. And he chose to finish a remarkable historical panel for the Truman Library and to give remarks to local groups. Then, so many friends wanted to celebrate his birthday - knowing it to likely be a last tribute, he orchestrated a final program to cap a career of excellence in public programming ('my pre-funeral, I want to be there."). Given Henry's personality the event of course became larger-than-life with a slate of speakers he chose ('nope, not him') and a full house. It was indeed a performance and I will say I went nuts helping behind-the-scenes - it was like hosting a wedding with folks coming in out of town and all logistics just after (our last) Christmas, while I was managing his palliative care team at home. Minutes before the event began, at the library where Henry led national programing, I couldn't find him - he was upstairs greeting everyone in a line up and chatting away with all the time in the world. A roast and a celebration of friendship, professional admiration and love for a simply wonderful afternoon. Capped when our daughter and her high school friends, accomplished singers, performed "Over the Rainbow" (hey we're in Kansas and yep it brought the house to tears). He chose his way- what a journey that year was.

  Post: On the Clock

  Link to comment from August 17, 2024

• yes, a thoughtful analysis David.

  Post: Unasked Questions

  Link to comment from August 3, 2024

• thanks Mike- I do share with others I know to avoid similar choices.

  Post: Unasked Questions

  Link to comment from August 3, 2024

• thank you. I have long been an avid reader of HD.

  Post: Unasked Questions

  Link to comment from August 3, 2024