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retiree healthcare Archives - Steinlage Insurance Agency

Is timing social security payments possible

By | Making the Most of your Medicare | No Comments

We all know that timing the market is impossible but is timing social security payments possible? With new technology, it may be possible to input your information and choose the correct time to draw monthly benefits.  This information may not help people age 65 and older, but their children will certainly appreciate the advice below. When to elect Social Security may be the most important decision a couple makes about their retirement.  In fact, the difference between the best and worst Social Security election decision can be to a $100,000 difference in lifetime benefits. This is critical when you consider how important Social Security income is to the average retired couple. Social Security benefits in 2008 accounted for on average 64.8% of total income for recipient households with someone aged 65 or older, according to a SSA report, Income of the Population 55 or Older, released in 2008. It is…

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Special School District Retirees faced with insurance changes

By | Making the Most of your Medicare | No Comments

  In the upcoming weeks, retirees’ from the Special School District of Saint Louis County are faced with an insurance decision similar to an algebra exam, deciphering the Medicare world after years of relying on an employer for assistance. This situation is becoming more common, as the employee/employer landscape changes, employers cut expenses, and retiree healthcare costs continue to increase faster than the rate of inflation.  Over the years, we have helped many retirees choose the best possible plan when making this decision. If you find yourself losing an employer retiree plan, here are a few things to consider: 1. If your employer terminates your coverage and you are on Medicare, you can purchase a Medicare Supplement without passing through medical underwriting.  You are able to sign up for a supplement (which will pay the 20% that Medicare leaves behind as well as the hospital expenses) regardless of your health…

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