10 Medicare Mistakes You Can’t Afford: A Conversation with Danielle Kunkle Roberts - Episode 103

📢 The latest episode of the Caregiver Relief Podcast is here, and it's a game-changer! 🎧✨ In this must-listen episode, host Diane Carbo sits down with Medicare guru and author, Danielle Kunkle Roberts, to talk about the biggest and most expensive mistakes people make with Medicare. This isn't just a podcast, it's a roadmap to saving thousands of dollars and gaining peace of mind! 💰🗺️

Episode Highlights: Medicare Mayhem & Money-Saving Moves! 🤯

• Procrastination is a Problem: Don't wait until the last minute! ⏰ Rushing into Medicare decisions can lead you to a call center that's focused on sales, not your personal needs.
• The Big Choice: Advantage vs. Medigap: A huge mistake is not understanding the difference between a Medicare Advantage plan and a Medigap plan. If you start with a Medicare Advantage plan and want to switch to a more comprehensive Medigap plan later, you might have to pass medical underwriting. This can be a real issue if your health has declined. 🤕
• What Medicare Doesn't Cover: Medicare doesn't cover routine dental, vision, or hearing care. 👓🚫 The most shocking thing for many families is that it also does not cover long-term custodial care like assisted living or in-home help with daily activities.
• Skilled Nursing Surprises: Medicare only covers up to 100 days in a skilled nursing facility, and that’s only if you had a qualifying three-night hospital stay. 🏨 After the first 20 days, you start paying a daily copay of over $200. Facilities may also discharge patients early, even if they're not ready.
• The Cost-Sharing Crisis: Medicare is shifting towards a model where you're responsible for a larger portion of your healthcare costs through high copays and deductibles. 💸 This is especially hard on seniors with a fixed income.
• Protect Your Financial Future: Your Medicare premiums can be affected by your income from two years prior. A major financial event like cashing out a 401k could significantly raise your premiums. 📈
• Find the Right Help: Work with a licensed Medicare insurance broker who can help you navigate plans and understand the fine print. Their compensation comes from the insurance companies, so there's no out-of-pocket cost for you! 🤝

Podcast Episode Outline ✍️

1. Introduction 🎤
   • Host Diane Carbo introduces Medicare expert and author Danielle Kunkle Roberts.
   • Discussion of common mistakes, surprises, and the changing landscape of Medicare.
2. The Journey to Boomer Benefits 💼
   • Danielle shares her inspiration for starting Boomer Benefits to help people with the confusing Medicare system.
   • The agency now focuses exclusively on Medicare and related products due to the overwhelming need.
3. Top Medicare Mistakes 🛑
   • Mistake #1: Procrastinating and making last-minute decisions.
   • Mistake #2: Not understanding the difference between Medicare Advantage and Medigap plans.
4. Medicare Coverage Reality Check ✅
   • What Medicare Part A (hospital) and Part B (outpatient) actually cover, including deductibles and co-insurance.
   • A deep dive into what is not covered, such as dental, vision, hearing, and long-term care.
5. Navigating Skilled Nursing and Rehab 🏥
   • The limitations of Medicare's 100-day skilled nursing coverage.
   • Why facilities may discharge patients early and the high out-of-pocket costs.
6. The Shift to Cost-Sharing 📉
   • Discussion of how Medicare's cost-sharing model impacts seniors on a fixed income.
   • The lack of coverage for custodial home care, leaving families with the financial burden.
7. Planning for Long-Term Care 👵👴
   • Danielle's advice on planning for long-term care with insurance or financial products.
   • The risks of a "Medicaid spend down" and why it should be a last resort.
8. Comparing Advantage vs. Medigap 🧐
   • Essential things to look for in a Medicare Advantage plan: provider networks, formularies, and prior authorizations.
   • The danger of being swayed by "fluffy benefits" like grocery cards or gym memberships.
9. Avoiding Costly Surprises 💡
   • How your income from two years ago can impact your premiums.
   • Rules for delaying Medicare enrollment if you work past age 65.
10. Final Thoughts & Resources 📚
    • Danielle discusses her book, 10 Costly Medicare Mistakes You Can't Afford to Make.
    • Information on how to find Boomer Benefits online and their free Medicare Q&A Facebook group.
    • Diane's final message to caregivers: practice self-care because you are worth it! ❤️

Don't wait to get the answers you need! 🗝️ This episode is packed with critical information that can save you from a financial nightmare. Listen to the full episode of the Caregiver Relief Podcast now and prepare for the future with confidence! 💪

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