What’s in seniors’ wallets? Most likely, a Medicare card that puts them at risk of scams and fraud. In an era of rising worry about financial scams and frauds targeting the elderly, we still have this peculiar anachronism: Social Security numbers are printed on every Medicare card – and the back of the card instructs […]
A growing number of seniors who think they’ve been hospitalized are finding that they weren’t. The problem isn’t memory loss, confusion or dementia. Instead, seniors on Medicare who did in fact spend multiple nights in the hospital are learning later on that they weren’t formally admitted. Instead, they had “observation status” – a Medicare classification […]
After much fanfare and controversy, Obamacare’s health insurance exchanges are open for business. What does the Affordable Care Act mean for retirees? It all depends on your age. If you’re 65 or older and on Medicare, there are no big changes for you to worry about. But the ACA offers important new options for retirees […]
More than two million people on Medicare could be getting their prescription drugs nearly for free, but don’t. That’s because they have not signed up for Extra Help, an important Medicare benefit that subsidizes drug costs for low-income senior citizens. Extra Help can pay nearly all of the prescription drug costs a senior incurs in […]
The fall enrollment period for Medicare plans is underway, and this year’s sign-up period coincides with the launch of the new Affordable Care Act exchanges. I sat down with Christine Benz, director of personal finance at Morningstar, to talk about the enrollment landscape for retirees. View the video below, or at Morningstar.com.