An educational workshop titled “Managing Health Care Expenses in Retirement: What Baby Boomers Need to Know About Medicare and Long-Term Care” has been scheduled for noon to 1:30 p.m. and from 6 to 7:30 p.m. on Wednesday, Oct. 4 at the Wellington Community Center. The seminar will also be held from noon to 1:30 p.m. on Saturday, Oct. 7 at the Nexus Business Center.
Fifty-seven percent of baby boomers said they had a “poor understanding” (31 percent) or know “almost nothing” (26 percent) about Medicare, according to a recent survey by Bankers Trust. Three-quarters of boomers (72 percent) did not know that most Americans on Medicare pay premiums, copays and deductibles. One in seven thought Medicare was free. Only 14 percent knew that Medicare does not cover long-term care.
A healthcare crisis is looming, and it is essential for baby boomers to understand what they need to do to prepare for it.
The “Managing Health Care Expenses in Retirement” educational workshop will cover the following:
• How Medicare enrollment periods work and what you need to do to avoid late-enrollment penalties.
• How much you can expect to pay in healthcare costs after going onto Medicare.
• How Medicare works with private insurance to provide comprehensive coverage.
• Why most people pay too much for private insurance and how you can avoid excess costs.
• Why you must plan for higher healthcare costs in retirement, including the possibility of needing long-term care.
The workshop is purely educational. No specific insurance or investment products will be discussed.
Seating is limited and reservations are recommended. Individuals can reserve space by calling Max Westerman at (561) 713-1333.