6 Things To Consider Before Retirement If You Have Copd

Retirement is meant to be a relaxing time, filled with fun in the sun, and taking it easy. But, if you have Chronic Obstructive Pulmonary Disease, a wrench can be thrown into your plans if you don’t plan accordingly.

Here are 6 tips to plan your retirement with Medicare if you have COPD:

1. What’s right for someone else may not be right for you

Your brother or sister may be in great health, or just have entirely different health needs than you. While their advice is most likely coming from a loving place, it is very possible it may be bad advice, because they simply may not know any better. Ask yourself “Is he/she is an expert when it comes to Medicare insurance, and managing health and financial risk?”

Take time to shop around, and consider all of your options.

2. Talk to your doctor or pharmacist

Many COPD prescriptions are very expensive. Costing north of $200/mo. This could easily cause you to hit the Part D coverage gap. If your drug was affordable with your employer group health insurance, it does not necessarily mean it will be affordable with Medicare Part D. Take time to find out what the total cost of the prescription is and talk to your doctor about more affordable alternatives. You may be surprised to find out, that a lesser expensive generic option exists.

3. Start shopping early

Medicare Initial Enrollment starts 90 days before the month you turn 65. Do not wait until 20 days out to start the process. Finding the right Medicare plan, prescription alternatives, and evaluating your costs can take time. Utilize the entire 3 month long (and more, we recommend starting more than 3 months out) enrollment window to be sure you are planning accordingly, and you understand the costs and risks.

4. Be open minded

What you originally planned for superannuation australia, may not be the case. In some cases it may be better, in other cases worse. Do not allow yourself to get fixated on only one option when shopping for a plan, explore all options.

5. Ask about Chronic Special Needs Plans

Chronic Special Needs Plans, or C-SNPs, exist specifically for people with Chronic diseases, such as COPD. Not all insurance carriers offer them, and they are not widely advertised, so you have to look a little harder. But, they are typically HMOs, and can save you literally thousands of dollars a year in out-of-pocket expenses. Most, but not all insurance carriers in Florida offer C-SNPs.

6. Work with a local professional

LBe honest with yourself. Can you explain the nuances of an HMO-POS, PPO, and an MSA plan? Furthermore, do you keep track of the changes that happen from year to year with Medicare? Its important to have a local professional to navigate the Medicare system with you, and the nuances of an insurance plan so you can make an educated decision.

Be sure to work with a local Medicare broker that represents many different insurance companies. https://boomerbenefits.com/top-10-medicare-supplement-companies/ This is important, as they wont try to force a one-size-fits-all solution on you. A Medicare broker will have many tools in their toolbox, and you can be confident to have the right plan for the right situation.