Planning for Medical Costs ~ Part of Your Optimal Financial Plan - Part 1

Planning for Medical Costs ~ Part of Your Optimal Financial Plan - Part 1

[caption id="attachment_617" align="alignleft" width="180"]Sheri Samotin Sheri Samotin[/caption]

About Sheri Samotin: Sheri is a Certified National Guardian, certified Professional Daily Money Manager, and Certified Professional Coach. Through a determined and steady progression and career path, she has developed the skills and expertise that enable her to assist and guide her clients in a caring and knowledgeable manner. Contact Sheri by calling 239.325.2680 or sending her an email.

What is Medicare Part D Prescription Drug Coverage? Medicare Part D covers your prescription medications. In short, it means that those enrolled in Medicare can also get insurance that helps pay for part of their prescription drugs. Medicare collaborates with private insurance companies to offer this benefit. It’s available regardless of income, illnesses, or drug costs. Maybe you haven’t yet reached the age of eligibility, but are wading through all the information as you try to help your parents or other loved ones do what’s best for them.

For those not in a Medicare Part D plan, now is the time to decide if you, or an older loved one, should enroll. Before deciding to sign up for coverage, it’s important that you understand how the program works. Anyone on Medicare – Part A or Part B – is eligible for the Medicare drug coverage, known as Part D. Medicare doesn’t require that enrollees undergo any physical exams and the government cannot deny coverage due to health reasons or because an applicant already needs numerous prescription drugs.

Medicare Part D Prescription Drug Plan annual enrollment for 2014 begins this October 15th and ends December 7, 2013. For those of you already enrolled (or who have elder parents enrolled) in a Medicare Part D plan, this is your opportunity to look back over the past year and decide what to do about coverage for the next year. You’ll need to decide if it’s best to stay with the existing coverage or make a change. If you do make a change, the new plan will become effective on January 1, 2014. If you don’t make any changes, you’ll remain on the same plan you elected before.

Control Your Medical Bills by Planning Ahead

At Coyle Financial Counsel, we’re all about planning and preparation. We use our customized mind-mapping tool to help you keep your financial future intact and guide you along as we partner with you through everything that impacts your finances. As you near retirement and beyond, you’ve got to start thinking about how your medical needs will affect your financial life and your ability to maintain your lifestyle. Your parents are probably already dealing with the various aspects of Medicare. Perhaps they’ve even come to you for advice or help in choosing a plan. A friend of ours, Sheri Samotin, can guide you in keeping prescription drug costs (which can be significant) under control by helping you make the most of your, or your loved one’s, healthcare dollars.

Based in Los Angeles, California, Sheri founded LifeBridge Solutions, LLC, with a passionate mission to act as an advocate for people and families as they prepare for important life transitions. One of those transitions involves healthcare in older age. With careful planning, you can ensure these times will be less turbulent and the transitions more peaceful.

Sheri can help you do that. She’s incredibly knowledgeable and can stand in the gap for you by helping you decide which Part D plan best fits your individual needs and situation. She’s great at guiding people through all the confusing jargon and other documentation as well. As a medical billing advocate, Sheri works to help you find errors in your bills, appeal denials to insurers, and negotiate lower fees with healthcare providers. Although based in California, Sheri and her team work with clients all over the US and provide a number of valuable services including:

  • Life transition planning
  • Caregiver coaching
  • Medical billing advocacy
  • Daily money management
  • Professional referrals

All types of people can benefit from her services, but especially: children of aging parents, older adults, aging parents of disabled children, people with significant medical bills, and those suffering from serious medical conditions or disabilities.

In Part 2, Sheri will give the best ways to get them most out of our healthcare spending.

We would love to talk about your healthcare plan. Give us a call:

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