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Senior Citizens a guide of the best Investment Options

Senior Citizens a guide of the best Investment Options

 Senior citizens in the earlier times were dependent for financial needs on their children. However, now times have changed with the availability of better opportunities of investment, rising income, and financial awareness, now senior citizens stay financially independent. Many fund their lifestyle with investment, income, and savings. However, with increasing longevity, inflation, and rising medical care cost, senior citizens are expected to look for more income avenues. The investment options provided by the government are beneficial and senior citizens should certainly take advantage.

Investment Options for Senior Citizens

 Senior Citizens Savings Scheme

  • Eligibility is for people over or equal to 60 years. Voluntary retirees may invest at 55 years.
  • Investment can be 15, 00,000 as maximum.
  • The current interest rate is based on the market and government bond 5-year yield. Mostly the interest is paid each quarter. It is locked as the investment is done. Premature account closing is possible and investment receives Section 80C deduction.
  • Limitation is that the there may be decline in the interest rate and it is taxable.


 Bank and Company Deposits

The popular and oldest saving form are the Bank FDs in saving for the senior citizens. Investing money in company deposits assures returns. Besides, the interest rate is higher in comparison to the interest rates of the Bank FD.

  • Banks have a set age limit, but permit 10 years older or younger to have an account single or joint.
  • The investment limits ranges from 5000 as per the company or bank.
  • Most banks give to seniors’ 0.5% more and the banks offer from 4 to 8%. The deposits in the company provide 8-8.9%, assuring a stable income. In fact, some corporate deposits give to senior citizens higher returns.
  • Recently the interest rates are falling down and the FDs in the company are at risk that invests in AA rated companies. The earned interest is taxable.
  • Check here for Medicare Supplement Rates 2020

Most investors wish to invest to get sky-high returns in the shortest time and this should be without losing principal money invested. This is the reason investors keep on looking for top investment plans such that in a few years or even months want to double their money and with no or very little risk.  However, it must be accepted that there is no existence of investment products offering low risk and high returns. Actually, risk reality, and returns are related inversely, higher the risk, higher the returns and vice versa.

Reasons for not remaining dependent on children’s finance and help during old age

Reasons for not remaining dependent on children’s finance and help during old age

When one reaches old age, it is important to manage the finances and also the assets which one is possessing. This will help in ensuring that one can live a comfortable life without any kind of worries. It also requires taking some of the important decisions which can help you to have a sound life after reaching old age.  The decisions which we take will depend on our current situation and the kind of lifestyle which we require after getting aged. Normally it will be required to have a stable income which is quite enough to maintain yourself during your old age. Also, there are likely chances to face health issues which will need the respective amount of finances which can manage the medical expenses.

Why should one not remain dependent on children’s and finance

It is quite evident that the person would become weak and dependent during their old age. This makes them depend on either their family members or their kids. One needs to ensure that they can have a comfortable life on their own which is not dependent on any individual. By doing that they can have a decent life which is not filled with any compromises or dependency on any individual. Go to  for free quotes for medicare supplement plans

Most of the time parents think that their children would take care of them. It is also true that their children are aware of their issues and would take care of them, but this will make them dependent on them. There are likely chances that a situation might arise where their children are not able to take proper care of them during their old age.

When children are not able to take care of you then it might turn out to be a burden on them. This will require making different compromises which are not favourable. If you have made proper arrangements of your living and about the finances, then even you can help your kids during their difficult time. Ultimately, it would turn out to be a mutual relationship which would be quite sound and lovable by both the sides.


Thus, we can say that it is evident to not remain dependent on the children during your old age. It will help you to live a comfortable and sustainable life. One can even prove to be helpful to their kids when the need arises. This will develop a stronger relationship with your kids and also help you to maintain your finances.

When Can I Enroll In Medicare Part D?

When Can I Enroll In Medicare Part D?

As you may know, Medicare Part D is a prescription drug insurance. You may decide that you need this insurance, but when can you get it? We will tell you when and how you can enroll in Medicare Part D.

Why enroll in Medicare Part D?

Medicare Part D is optional, it is not necessary to register. Part D is the Medicare prescription drug. However, you will not automatically receive Part D, even if you are one of the many that automatically enroll in Medicare Part A and B.

Original Medicare, Part A and B, does not include the supply of prescription drugs, except in certain cases. Part A generally deals with medications given as part of your treatment when you are hospitalized. Part B can refer to prescription drugs that are given to you on an outpatient basis, for example, in a clinic. When it comes to medications you take at home, Original Medicare will not insure them in most cases.

There is another reason to think about enrolling in Part D: If you do not enroll the first time you qualify for Medicare, you may have to pay a late enrollment fee if you need drugs at a later date. Decide for the record. Get more information about the Part D late enrollment penalty.

Can I enroll in Medicare Part D at any time?

In most cases, not just any time. Your ability to enroll in a Medicare prescription drug policy under Part D is somewhat limited. Typically, the most common registration times are:

Your first Medicare enrollment period: This, for most people, is the 7-month period, which begins 3 months before age 65 years, the month in which they turn 65 years, and continues for 3 months thereafter.  The Annual Election Period (AEP), also known as the Open Fall Registration from October 15 to December 7 of each year. The special 5-star sign up period: You can switch to a Medicare prescription drug policy from December 8 through November 30 of the next month.  In some cases, you may qualify for another special registration phase. Many SEPs involve the loss of your insurance. For example, if you have other drugs that are acceptable for prescription drugs and your insurance ends, you can get a SEP if you can enroll in Medicare Part D insurance.

You can also make other changes in insurance during some of these registration periods.

Medicare Part D is available in two types

There are two ways to get Medicare prescription drugs. Both are available at private insurance companies recognized by Medicare.  You can join a separate Medicare Part D prescription drug policy to work with your Medicare Part A and B insurance.  You can get your Medicare Part A and B benefits through a Medicare Advantage Prescription Drug policy that is available in your area of residence. Not all Medicare Advantage policy includes benefits for prescription drugs, but many do.  Both types of policies mainly have similar enrollment times.

You can Actually Write and Book or a Blog during your Retirement Period

You can Actually Write and Book or a Blog during your Retirement Period

Retiring does not mean that you are not an expert in your field anymore. In fact when someone gets old, the level of wisdom increases as well. Old seniors are considered wise basically because they take time before they make a decision. Considering that you have retired and you age has earned you the title a wise man or woman, there is need for you to write a book or a blog for that matter. It is through that book that you will get an opportunity to pass your wisdom through advising people on how things should be done or how you think things should be done.

Writing a blog or a book can be a place to share your memoir

“My life as a soldier fighting in Afghanistan”. This could be the title of your book or blog that contains you memoirs. Memoirs are actually a source of inspiration and hope to those who are going or are longing to go down that road. It is through presenting your memories that you can actually get to encourage them and tell them that things are possible. It is through writing a memoir blog that you can get to share ideas that could challenge one to follow your steps and take your advices.

Writing blogs or books keeps you alive and not forgotten

Some of the famous seniors of have simply went out of the picture simply because they have been forgotten. They have been forgotten basically because there is nothing they can do so that people can remember and follow them through their writing. It is important therefore to make sure that you give senior ideas, opinions and expert advice through your blog or book so that your presence can be felt even when you’re a retired senior. People can only continue talking about you if you keep speaking out your mind.

You can mentor through books or blogs

With the current technology, you can actually mentor young workers by writing something. Younger employees will always look up to their seniors and will always look for an opportunity to ask for advice even when you have already retired. If your age does not allow you to write, there is always an option where someone can listen to your and write based on what you have said. Such writing could mentor a young employee somewhere.

Medigap plans M and N

Medicare supplement plans were primarily the same since 1992, when they were originally standardized. However, as of June 1, 2010, two new plans, M and N, were introduced, including changes to Medicare supplements. This article will demonstrate how the two latest plans, i.e. Medigap Plan M and Medigap Plan N work and what coverage they offer.

Medicare supplement Plan M and N, are the latest standardized Medigap plans provided by private insurers domiciled in South Carolina and across the country. These two new plans offer a lower premium alternative to existing Medicare supplements, and many believe that these new plans will win as very popular alternatives among the Medicare supplement plans, especially with the upcoming major changes to the Medicare Advantage program.

Medigap Plan M:  Get more information by visiting

One of two new standardized plans, Plan M, makes use of cost sharing as a way to lower your monthly premiums. This implies that in return for monthly premiums that are slightly lower, those on M would share the Medicare Part A deductible with the insurance company on a 50/50 basis. The insurance company pays half and the other half will be paid by the beneficiary. Plan M does not cover the deductible of Medicare Part B at all; However, there is no co-pays for doctor’s office if you meet the deductible of Part B. Most analysts expect the premiums on this plan to be 15% lower than current F-premiums.

If you wish to sign up for Medigap Plan M or a Medigap policy, kindly consider enrolling in Medigap during the six-month Open Enrollment Period (OEP). This six month period commences on the first day of the month when you are either 65 years or older and you have signed up for Medicare Part B.

Medigap Plan N:

Plan N, one of two new standardized plans, also makes use of cost sharing as a way to reduce your monthly premiums. Instead of using the deductible sharing method like plan M, this one uses co-pays to reduce the premium cost. The co-payment system cost $20 for doctor visits and $50 for emergency visits. The current projection is that this co-pay system will flag off after the deductible of Medicare Part B has been met. This plan should provide 30% lower premiums than the Medigap Plan F premiums.

These plans, M and N, may be particularly interesting to those who come out of the Medicare Advantage program, either by compulsion (cancellation of their plan) or by decision to do so, as premiums for the Medicare Advantage are expected to rise as future changes to premiums for these two plans will decline (from the premiums for original Medicare Supplement Plan). Many expect that there will be a small difference in the M and N premiums as compared to the new Medicare Advantage premiums.

As these plans have been in existence since June 2010, both the Medicare Advantage programs and the existing Medicare supplement plans need to be carefully considered and the benefits of the two new plans compared to their current coverage.

Medicare Plans – What is Mеdісаrе Part D?

Mеdісаrе Pаrt D is рrеѕсrірtіоn advantage соvеrаgе fоr Medicare rесіріеntѕ. Medicare ѕuррlеmеnt рlаnѕ fоr Pаrt D аrе рrоvіdеd by рrіvаtе іnѕurаnсе companies. Thеѕе рlаnѕ are nоt рrоvіdеd bу thе gоvеrnmеnt. A private іnѕurаnсе соmраnу muѕt bе аррrоvеd bу thе government before іt саn gіvе оut a Mеdісаrе ѕuррlеmеnt рlаn. Medicare рlаn D is аvаіlаblе tо аll Mеdісаrе recipients.

If уоu аrе аlrеаdу enrolled in either Mеdісаrе Part A оr Pаrt B or bоth, уоu are аlѕо еlіgіblе fоr Mеdісаrе Part D. It іѕ advisable to еnrоll in a Medicare Suррlеmеnt рlаn as ѕооn as possible. If уоu wаіt tо еnrоll, уоu will end up рауіng hіghеr рrеmіumѕ.

You dо not nесеѕѕаrіlу hаvе to еnrоll іn a Mеdісаrе D plan. Yоu mау also receive prescription соvеrаgе if you enroll in a Mеdісаrе Advаntаgе Plаn (Pаrt C). If уоu hаvе рrеѕсrірtіоn соvеrаgе іn a Part C plan, уоu саnnоt еnrоll іn a Part D plan.

All plans аrе required tо provide a ѕtаndаrd level оf соvеrаgе mаndаtеd bу Medicare. Hоwеvеr, thе асtuаl costs аnd coverage vаrу by Medicare ѕuррlеmеnt рlаn. The costs аѕѕосіаtеd wіth a Pаrt D plan аrе the mоnthlу fee, the уеаrlу deductible, соіnѕurаnсе оr со-рау, аnd the соvеrаgе gap.

Get a Humana advantage quote at

Part D соvеrаgе monthly fees vary wіth еасh plan аnd are іn аddіtіоn tо thе Pаrt B premium. If you hаvе your рrеѕсrірtіоn соvеrаgе wіth a Medicare Part C рlаn, уоur соѕt оf соvеrаgе іѕ рrоbаblу included in thе Part C рrеmіum.

The yearly dеduсtіblе іѕ thе tоtаl аmоunt уоu that уоu have tо рау fоr your prescriptions bеfоrе your plan will еvеr рау. Some рlаnѕ mау hаvе nо уеаrlу dеduсtіblе.

Cо-рауmеnt or со-іnѕurаnсе іѕ the аmоunt раіd uр front tо the рhаrmасу whеn рurсhаѕіng a prescription.

Thе соvеrаgе gap is when уоur prescription рurсhаѕеѕ have еxсееdеd a сеrtаіn аmоunt. At thіѕ роіnt, уоu hаvе tо pay for аll of уоur mеdісаtіоn оut of росkеt until a yearly out оf pocket lіmіt has bееn rеасhеd. At thіѕ point, the рlаn bеgіnѕ рауіng аgаіn.

In ѕummаrу, Medicare Pаrt D іѕ аddіtіоnаl соvеrаgе tо Mеdісаrе Part A аnd Pаrt B for рrеѕсrірtіоn drug coverage. It comes аt a соѕt. The monthly рrеmіum, dеduсtіblеѕ, со-рау оr co-insurance аnd thе соvеrаgе gap аrе аll thіngѕ thаt you need to consider whеn buуіng a part D рlаn.

Benefits of Medicare Advantage Plans

Medicare advantages are purchased each year by thousands of senior citizens. They provide peace of mind for those who need medical services and also those who are healthy but in need of protection in case of unexpected illness or emergency.

The needs of health care are changing frequently and the state of the health industry is changing every year. This makes choosing the right plan complicated and sometimes difficult. Regardless of your chosen plan, the results would be the same: reduced expenses and benefits that you can use to maintain or improve your current state of health.

It is important that you can see the doctor of your choice. Most Medicare Advantage plans will allow you choose the doctor and the hospital you want, but check the plan before you buy, just in case you have any questions. The federal government owns and operates the Medicare program.

The advantageal plans are standardized by the Center for Medicare Services and are purchased through private insurance companies. As a result of standardization, every Medigap policy offers the same benefits. This makes the comparison of plans less complicated. However, the fees charged by the providers may vary considerably.

They will be competitive in some cases. In other cases they will be much more expensive. It is important to keep in mind that higher premiums are not indicative of higher benefits or better services. One of the best ways to maintain low premiums and keep costs low is by staying healthy.

Some of the providers approved to offer Medicare advantage plans offer “Silver Sneakers” program to their participants. This program helps to pay for health-related services such as gyms and fitness classes. Prior to registration, confirm that companies in your area are participating in the program.

Because of this extra feature, you can pay your plan as offered by other companies. It is a very personal decision whether it pays off for you or not. Another aspect to consider is business valuations. Many companies with higher valuations have quotes

Because Medicare advantages are standardized, choosing a provider will depend on pricing and optional features. There are many different resources that you can use for researching what plan to buy. Each State Department of Insurance has a handbook that can help with the selection of plans. The Medicare website and sites for private, senior-focused organizations also have tools that can be helpful.

Medigap plans complement your original Medicare benefits; this is why these plans are also called Medicare Advantage Plans. You must be registered with the Original Medicare to qualify for Medigap coverage, and you must remain registered with your original Medicare for your hospital and medical care. Medicare advantage plans are not intended to have stand-alone benefits.

The state which you live in will determine whether you will receive Medicare Advantageal coverage if you are below 65 and have Medicare due to amyotrophic lateral sclerosis, disability, or end stage renal disease. States are not required to offer Medigap services to beneficiaries under the age of 65. If you are below 65 and signed up for original medicare, check with the insurance department of your state to see if you can sign up for a Medicare advantage plan.


Medicare Supplement Plans in Utah, Colorado, and Nevada

You will see a major trend when you compare the Medicare Supplement Plans these 3 states have to other states in the country. When compared to other states that have large cities in them, to a large extent, they are far less expensive. As is common knowledge, Nevada has Reno and Las Vegas, Colorado has Denver, and Utah has Salt Lake and few other medium size cities in it. So what is the reason why there is a huge price difference between these states and the others? Let us consider the 2 reasons.

Usually, the healthier the state, the lower would be the rates. All the states mentioned above boast of a very good health rating. When a Medicare Supplement Company record lower health claims they would also have lower costs which in their usual manner, they will pass on to the consumer as lower rates for their plans.  Get a quote for the best supplement plan at

These companies are actually able to look at past records in a bid to attempt to evaluate their future costs for claims. If they notice that in the past years the cost of claims have been comparably lower than other states, for this reason alone they will keep prices lower. These states with rocky mountainous landscape are benefiting immensely from a healthy life style. These states have plenty of outdoor activities that aid in maintaining a great health rating.

In determining rates, competition is also a large factor. As you look at the rates across the country, you will observe an important trend. In states where only 1 or 2 companies sell Medicare Supplement Plans you will find that the rates can be very high. In states like Utah, Colorado, and Nevada, you will find a minimum of 5 companies that provide these types of plans. That being said, every insurance company is competing for a position in the market. Having a position in the market has everything to do with prices, when you are dealing with a standardized plan.

Standardized plans are of immense importance as to why competition is so important in the scheme of things. Think about it this way: if you went to a car dealer to buy a car, you would not want to pay $6000 more to purchase the exact same vehicle with the same options that will get you to the same place –there is no atom of sense in that. The same goes for Medicare Supplement Plans. Well informed consumers are aware that the plans in themselves are essentially the same from one company to another. This means that there is nothing else to talk about than price difference.

Whether you are looking at a Colorado Medicare Supplement Plan, Utah Medicare Supplement Plans, or a Nevada Medicare Supplement Plan, you are in a good position. Residing where you currently live could save you thousands of dollars in Medicare cost.


Medicare Part A Costs

If you are about to turn 65 years old or you want to get Medicare even though you missed the Initial Enrollment Period, it is important to know the prices and the things you will have to pay when you get Original Medicare. There are some ways in which you could pay less or some situations in which you will have to pay more than others. In this article we will explain everything about Medicare Part A costs.

Monthly Premiums of Medicare Part A

     Most people don’t have to pay for Medicare Part A because they were eligible for a premium-free Part A when they enrolled to Medicare. This occurs when you join Medicare during your Initial Enrollment Period and you (or your spouse) have paid taxes during a specific period of time while working, accumulating at least 40 quarters of work.

You are also eligible for a premium-free Part A if you are under 65 years old and you got Social Security or Railroad Retirement Board benefits for 24 months or you have End-Stage Renal Disease (ESRD).

If you are not eligible for premium-free Part A, you will have to pay for Medicare Part A. Depending on the amount of quarters you have accumulated, the amounts may vary. In 2018, the standard Part A premium is $422 in case you paid Medicare taxes for less than 30 quarters, and it is $232 in case you paid Medicare taxes from 30 to 39 quarters.


Medicare plans 2019

      Part A late enrollment penalty

      If you did not sign up for Medicare when you were first eligible (during your Initial Enrollment Period), you have to pay the late enrollment penalty. In this case, you monthly premiums will go up 10% and you will have to pay that extra percentage for twice the number of years you could have Medicare but you did not sign up.

For example, you were eligible for premium-free Part A during 1 year but you did not sign up, so you will have to pay the higher premium for 2 years.

As it was explained in another article, there are certain situations if which you could still get premium-free Part if you do not sign up when you were first eligible. This is called “special enrollment period”. For more details on Medicare plans for 2019 go to

    Part A hospital inpatient deductibles and Coinsurances

    Although you may pay monthly Part A premiums, you will have to pay for the rest of Medicare Part A costs, which are deductibles and coinsurance. Remember a deductible is the amount of money you have to pay for healthcare services before Medicare starts paying, and a coinsurance is your share of the costs of a health service. You start paying the coinsurance after you pay the deductible.

In 2018, the deductible is $1340 for each benefit period. From days 1 to 60, you don’t pay anything for coinsurance for each benefit period; from days 61 to 90 the coinsurance is 335$ per day of each benefit period; from days 91 and beyond the coinsurance is $670 per each “lifetime reserve day” for each benefit period and up to 60 days over your lifetime. You will also have to pay all costs of you beyond lifetime reserve days.

A benefit period starts the day you enter a hospital or Skilled Nursing Facility (SNF) and ends when you have not received inpatient hospital care for 60 non-calendar days in a row. After those 60 days, a new benefit period begins. While you are in the hospital or SNF, you will have to pay the daily coinsurance.

As Original Medicare only cover up to 90 days of inpatient care each benefit period, you get a coverage of 60 days more, called lifetime reserved days, and they can be used only once. For example, if you spent 140 days in the hospital, you will have used 50 days from your lifetime reserved days, so you will have only 10 lifetime reserve days covered by Medicare if you have to spend more than 90 days in the hospital in the future.

Medigap Plans – Mutual of Omaha

Many years ago, Medicare was introduced to the American public to help cover medical expenses of all Americans. It was devised by the United States Congress and later approved by the President. Medicare was developed to give everyone help with all their health concerns. Many things have changed with Medicare and many improvements were added, a little at a time, to help make it a better plan.

It was just a basic plan and has grown to cover more expenses to what it has become today. It was realized that more was needed than just the basic Medicare plan.

Different plans have been added to include various benefits to help people get better care for their medical needs. Medicare supplement plans, also known as Medigap, were devised to help with the added expenses. When Medicare was used for one’s health expenses, they found not everything was covered or paid for. Original Medicare only pays 80% of the medical expenses and the remaining 20% is the sole responsibility of the patient. This could be devastating to someone on a fixed income and use up their savings to pay those medical bills.

A Mutual of Omaha medicare supplement is a health insurance plan devised to help with the 20% leftover medical bills. They work with the Original Medicare. One must have Medicare Part A and Medicare Part B in order to obtain a Medigap supplement plan. There are many plans to choose from and they will cover various health issues that a person can choose from.  These plans are all standardized, meaning they are the same, no matter where you get them from. They have been designated by the letters A-L. Some are not available today, but there are several that are concise and will serve the person who has Medicare.

These policies are sold by private insurance companies and they determine the monthly premiums. These premiums will vary depending on where you live and which insurance agency you choose to go with. The policies are renewable each year. There are no group policies and each individual will acquire their own policy for their health needs.

Everyone needs to really look carefully at each Medicare supplement plan to see what health issues they wish to have covered and then find an insurance company whose premiums will benefit their individual monthly expenses. These Medicare supplement plans are something a person should consider to help pay their medical expenses that are left after Medicare pays its part.