The current economy has led many to consider retirement a little sooner than they had planned. If you are already over age 65, your retirement is going to include some complicated health insurance options. When you turned age 65, you were enrolled in Medicare Part A. You might have also been enrolled in Medicare Part B. That depends on what type of plan you already had from your employer. Your first step is to verify your Medicare enrollment. Next, who else is enrolled in you

Insurance is all about risk. Risk transference means paying someone else (an insurer) to bear the risk of property or monetary loss. The more risk you transfer to an insurer, the more they will charge you. Take the Medicare Supplement F plan for example. Many consider this the “Cadillac” plan, the very best coverage you can get. In an F plan, you are transferring all of your out of pocket costs (deductibles, co-pays and co-insurance) for any Medicare covered benefit, to the i

Insurers are very cautious about taking on risk. They only issue policies where they believe there is a reasonable chance of collecting more in premium than they will pay out in benefit. For health insurance such as Medicare supplements, the insurer will determine the level of risk by investigating your health history. If they decide to take on the risk, the policy is determined to be “underwritten” or acceptable risk. In many instances though, the policy may be “guaranteed i