 You are in retirement or moving towards retirement and you receive an inheritance. What do you do with the money or the property?
The answer depends on several factors. What is your current financial situation? What do you expect your financial situation to be in the short term and in the long term? Too many people have little or no idea because they have not done proper planning during the income producing years. You definitely should not expect an inheritance to pay for the rest of your life. Things happen. People live longer. Your planning should revolve around your resources, not someone else’s. After evaluating your Money Life, it is time to figure out what to do with the inheritance. Write down your goals (with your spouse, of course). Put together a plan. Then, take action; follow your plan. If you wish to work with a financial person, choose someone who is a fiduciary, someone who by law must put the client first, someone who does not make money by selling financial products. If you don’t need the inheritance, think of your Legacy. Your legacy is what you pass on to your descendants as well as your personal contribution to all mankind in the future. Pay it forward; leave the world a better place than you found it. Money Coach Bill Stanley is a Registered Investment Adviser, a fiduciary who does not sell financial products. He educates and he coaches. Bill’s passion is financial literacy for all. His book, “Money Sense for Young Professionals” is a perfect gift for that child or grandchild who is interested in a better money life. Bill has started a private nonprofit, the William Stanley Foundation, as part of his legacy.
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 An important topic that we're addressing today is "should you pay the first medical bill that you get"?
Author, Marshall Allen, "likens today's health care system to a bully, squeezing and taunting the consumer". He says you don't need to have a major surgical procedure to feel that steep out-of- pocket health care costs which also include your annual health insurance premiums and deductibles as well as an epidemic of billing mistakes are draining your pocketbook! According to Allen, the cost of basic health care is Americans' #1 financial concern. Allen recently wrote a book which is a guide on how to fight back against out-of-control medical costs and bills. His book is entitled, "Never Pay the First Bill: And Other Ways to Fight the Health Care System and Win". Allen cites the perennial increase in health care prices. If you look at 2010 - 2020, workers' earnings went up 27%, family health care premiums went 55% and deductibles went up 111%. So, family premiums went up twice as fast as workers' earnings. Some people feel as though they are uninsured, even if they are technically insured, because they are responsible for a lot of out-of-pocket costs. This is especially true if someone has a high annual deductible. If you have a $3,000, $5,000, or $10,000 deductible, you are functionally uninsured...that's a sobering thought! Source... Allen makes the point that he is not advocating that we should not pay our bills at all, but "that we should never pay the first bill until we have checked it to make sure it's accurately priced and accurately documented." Source... Did you know that experts who review medical bills for a living say that almost every medical bill has some kind of an error. It's common for there to be charges for things that didn't even happen. And, it's very common to be charged more than you should be charged for something that did happen. Allen also said, "In America, we say the customer is always right. But in health care, the insurance companies are more concerned with keeping the hospitals, doctors, nursing homes and others in their networks than they are making sure that we're satisfied with the quality of care or the accuracy of the billing. So, even if you have an error in your bill, your insurance company will just pay it!" People get the feeling that they are on their own. There's seems to be a sense of betrayal that the American public feels. Older Americans who are caring for their older parents have experienced the higher and higher costs year after year! That's why there is momentum to do something about this situation in the American health care system! Allen closes this interview by saying, "It's going to be a fight. There's going to be winners and losers, because right not they're taking away more of our money than they should and they're not going to release their grip on our money without us fighting back." Source... We invite you to read this entire interview at Next Avenue.  Jumbo Reverse Mortgage Loan Homeowners who are looking to use a reverse mortgage to tap into their home equity now have a new option at their disposal. The only private reverse mortgage available for the last few years was Generation Plus, meant for borrowers with home values exceeding 1 million. In addition, Urban Financial of America abolished the dry spell in the private reverse mortgage industry and introduced jumbo reverse mortgages. Jumbo reverse mortgage loans are targeted at new homeowners with homes valued upwards of $600,000. These loans come with some essential key features that make them stand out, providing more alternatives and borrowing power for homeowners with high-valued properties. A jumbo reverse mortgage can help you tap into your home equity during retirement and help you face everyday challenges. When you meet the age and credit score requirements, the jumbo reverse loans can be a place to age and increase your cash flow with rising healthcare costs, education, or helping out other family members. Even with millions of dollars in home equity, we all have to balance our budget at the end of the month. How does a Jumbo reverse mortgage loan work? Buying a house is a life-changing event in our lives, and it requires a lot of financial planning. Working on your credit score and saving enough for a down payment are crucial first steps towards homeownership. On top of this, it involves choosing the lowest mortgage rates and negotiating favorable terms. Unfortunately, depending on your chosen area, your home may be worth more than $679,650, and you won’t qualify for a traditional government-insured reverse mortgage. Instead, you’ll need to opt for a jumbo loan. Jumbo reverse mortgages, frequently called proprietary reverse mortgages, differ from conventional reverse mortgages. The loan amounts exceed the conforming limits set by the Federal Housing Finance Agency, and therefore cannot be purchased, guaranteed or backed by Fannie Mae or Freddie Mac. Private firms and larger banks are generally responsible for jumbo reverse mortgages. However, mortgagers are subject to the same obligations under traditional reverse mortgages to finance their high-valued property. Homeowners must be over 62 years old and continue to live in their own home as their primary residence. In addition, they must have the financial resources to continue to maintain the property. When the reverse mortgage loan idea was first conceived, people quickly began to recognize that the common was a brilliant solution to common challenges. Using the equity in your home, a reverse mortgage is a financing option that eliminates monthly mortgage payments and taps into your equity. Consequently, the loan doesn’t need to be repaid as long as the borrower continues living in his home. However, this doesn’t mean that a reverse mortgage is free. Borrowers are still responsible for paying property taxes, insurance, and home maintenance. Meanwhile, the loan accumulates monthly interest, and you’ll repay it at the end of the loan’s lifespan. Jumbo reverse mortgage loan to value So, what percentage of your home appraisal can you actually access? Several factors determine how much equity you can access with this loan. For most traditional mortgages, the maximum loan-to-value ratio without a PMI is typically 80 percent. However, depending on the lender’s requirements, it varies slightly. For reverse mortgages, the LTV isn’t used as a critical determining factor in the approval process. Instead, the LTV ratio is influenced by other key factors, including the borrower’s age, current interest rate, and the home’s sales price. The current rate sits at approximately 50 to 55%. High loan limitsMany seniors with an existing mortgage of over 1 million dollars qualify for a reverse jumbo loan. In general, homeowners with 50% to 55% or more equity have a good chance of being approved. When you apply for a jumbo reverse mortgage, you can potentially borrow hundreds of thousands more than the HECM loan limits. With jumbo reverse mortgages, seniors can borrow up to 6 million worth of home equity. The exact amount depends on the borrower’s eligibility, age, house value, and how much is owed on the property. With a large amount of cash at your disposal, you’ll gain more control over your assets and investments. Capitalize on a program that takes a glance at the total value of your home. Since Jumbo reverse mortgage lenders aren’t FHA approved nor guaranteed, lenders don’t need to follow FHA guidelines. Instead, they mimic FHA protections and provide their adaptation to their guidelines. Jumbo reverse mortgage benefits 1) Retain Home Ownership Undoubtedly, the critical benefit behind a reverse mortgage is to keep one of your most significant assets. Contrary to what some people believe, lenders don’t take away your ownership when you borrow against it. If you adhere to loan terms and continue to pay your taxes and insurance, you will remain the legitimate proprietor. 2) Stay financially stable One of the many benefits of a jumbo reverse loan is your ability to boost your finances by tapping into your equity. In addition, private companies offer complete flexibility when it comes to payout options, including lump sum, monthly payments, or line of credit. Seniors can benefit from an increased standard of living and allow them to live their dreams. When your house is worth $1,000,000 or more, you want to access your home’s equity and spend it whatever way you want. It’s an excellent way to use the value of your property to fund part of your retirement. 3) No Insurance Premiums Private reverse mortgages don’t require insurance. As a result, borrowers aren’t left behind with a pile of upfront or annual insurance premiums they face when borrowing the government-insured program. 4) No Monthly Mortgage Payments Many borrowers use a jumbo reverse mortgage to eliminate monthly payments while allowing seniors to live in highly valued areas. While traditional mortgages allow refinancing small mortgages, jumbo products allow borrowers to refinance several hundred thousand. So not only will you lessen your burden, but you’ll also bring in an additional source of income. 5) Fixed-rate loans Borrowers taking out jumbo reverse mortgages don’t need to worry about interest rate hikes. Jumbo reverse mortgages have various fixed interest loans, which means your loan size will increase with predictability. This is uncomplicated to plan your finances! 6) A Reverse mortgage loan is generally a non-recourse loan One of the best benefits of a reverse mortgage is that it is generally a non-recourse loan. You’re protected if your loan balance is higher than the value of your home. Your lender cannot seek to seize your assets and must absorb the loss. Lower Cost It was just a few years ago that people were ranting about how expensive reverse mortgages we’re. Today, it’s no longer the case. Corelogic determined that the difference is due to Fannie Mae and Freddie Mac’s continuously increasing guarantee fees. Since 2010, it nearly tripled, and since jumbo loans are too big to be purchased by this giant corporation, it leaves jumbo loans untouched. Reverse mortgages backed by the FHA carry some hefty financing charges. The biggest one being a 2% insurance premium. Meanwhile, the higher jumbo rates have come down from 7.5% to as low as 4.95% and require no additional monthly insurance charges as required by government-backed programs. This equates to savings totaling $16 447,50$ compared to a HECM jumbo program. In addition, jumbo loans benefit from no upfront or recurrent mortgage premiums, and lenders can often waive origination fees and pay upfront costs. Applicants face strenuous observation and often have stellar credit scores. Therefore, it becomes advantageous for lenders and advantageous enough to offer better terms. The jumbo programs make much sense when you consider all the improvements, lower rates and fees, higher loan amounts, and underwritings. Are Jumbo reverse loans still available? The recent changes made by the HUD make it easier for Jumbo reverse mortgages to re-enter the market, offering a product exceeding the lending limit of $822,375. Jumbo rates recently dropped, and many borrowers find that the range of jumbo products is more appealing than ever for higher valued homes. Potential homebuyers and refinancers see an opportunity to secure a lower rate, even if the pool of lenders is scarce with the pandemic. Borrowers may face stricter requirements and more documents during the process to ensure their repayment capability. The excellent news is jumbo reverse mortgages are still available. Sources Michael Branson (November 16, 2019). Lowest Cost Reverse Mortgage Surprisingly Affordable! https://reverse.mortgage/lowest-cost Mortgage News -7thlvl. 5 Major Benefits of Reverse Mortgage Loans https://mortgagenewschannel.com/5-major-benefits-reverse-mortgage-loans/ Kathleen Coxwell – New Retirement (August 25, 2014). New Jumbo Reverse Mortgage; HomeSafe Reverse Mortgage Brings Additional Benefits https://www.newretirement.com/retirement/new-jumbo-reverse-mortgage-homesafe-reverse-mortgage-brings-additional-benefits/ Michael Branson (March 12, 2021). 2021 Jumbo Reverse Mortgages: Lenders Rates & Limits. https://reverse.mortgage/jumbo Brett Stumm What is a Jumbo Reverse Mortgage and Its Pros & Cons? https://brettstumm.com/jumbo-reverse-mortgage/ LendingTree.com (June 5th, 2018). Understanding Jumbo Reverse Mortgages https://www.lendingtree.com/home/reverse-mortgage/understanding-jumbo-reverse-mortgages/ Alpha Mortgage Reverse Mortgages Maximum Loan-to-Value https://reversemortgagevalue.com/loan-to-value/ Jackie Lohrey | Sapling.com How to Use My Home As Collateral for a Loan https://www.sapling.com/5489036/use-home-collateral-loan Get to Know Kevin A. Guttman Reverse Mortgage Specialist A Jumbo Reverse mortgage doesn’t have to be complicated when you have a professional help you along the way. Contact our team today to get the wheels in motion a (877) 251-9709 image source: Pixabay Have you checked on these retirement expenses lately? What we’re talking about is the annual cost of a private room in a nursing home or even home health aide services. The amount for a private room in a nursing home has cracked the six-figure mark ~ $102,200! The amount for home health services averages $23 per hour These amounts are according to Genworth Financial in their 2020 Cost of Care Study. This rising cost of care has outpaced inflation. Where you live in the U.S. makes quite a difference. You can calculate the cost of care by state here: Cost of Care A growing number of older adults need specialized care. However, there is a shortage of skilled workers — both of which raise care expenses.  Look at these numbers of growth between the years 2018 and 2019:
It’s Time to Plan Ahead by Identifying How You’d Like to Receive Care: Planning for your care as you get older is very important and can be daunting. You might want to work with an advisor to lay out a plan of where and how you would like to receive care. Some retirees may spend money on the more moderate cost of receiving home care. There’s the possibility of having a home health aide come to visit. However, circumstances can change quickly which could lead to an assisted living facility or nursing home. Long-term care insurance might be an option but becomes more expensive the longer you wait. Select trusted individuals to oversee your medical care decision making. This may include family members as well as other expects in the field of financial planning and medical care. A Huge Financial Decision for this Retirement Expense!
 We rack up our pennies to save for retirement most of our adulthood. However, come retirement, most of us have less than $100,000 saved up. With debts constantly increasing and income staggering, many citizens are unprepared for retirement. Thankfully, for homeowners who are at least 62 years old, a reverse mortgage is a great way to boost your income. As long as you occupy your home and build sufficient equity, you can fall back on a reverse mortgage to keep you on your feet. While it may appear as an outstanding solution to meet financial obligations, the real question is how much hard cash does a reverse mortgage remunerate? There’s no straight answer, and the amount of money at your disposal will vary according to various factors. Where does the money come from in a Reverse mortgage? The exact amount of money you’ll be granted depends on a few different components, including age, the current market value of your home, interest rates, financial obligations, and the distribution type of choice. Your current home appraisal will also help you determine what your eligibility will look like—the higher the economic value, the higher potential to put a fair amount in your pocket. Intertwined, current interest rates can also affect how much money you’ll receive. The lower the interest, the higher the accessible funds. In general, homeowners who have over 50% equity in their residence have a higher chance of qualifying for this type of loan. Meanwhile, when there’s a notable mortgage balance remaining, the payout may not be worth it. Loan proceeds will invariably go towards paying off existing liens. A reverse mortgage supplies borrowers with the most disposable cash when the home is paid off or the balance is low. As of 2019, the maximum payout from a reverse mortgage is 679,650$. However, most applicants can expect much less. Who can apply for a Reverse Mortgage? You must be at a minimum of 62 years old to qualify for a reverse mortgage. However, the older you are when you take out this loan, the more cash you’ll access. The estimated length of your loan is a critical factor in whether you’ll receive the best payout. Additionally, fees and other financial obligations may alter your payment. You must pay off your existing mortgage balance before assessing how much money you’ll receive. Once you’re approved, you will choose how you would like to receive the loan amount. You may select an upfront lump sum, monthly payment, or a line of credit. It all depends on what serves your situation best. It may not seem like there’s such a difference on the surface, but it can alter the outcome dramatically. Due to the continuously changing economy and rising house costs, evaluate your options carefully. Only you can tell whether a reverse mortgage is a suitable solution for you. No program will be the right one for every homeowner. With the proper research, tapping into your home equity could be worth it. Get to Know Kevin A. Guttman Reverse Mortgage Specialist As you can see there are a lot of steps to getting a reverse mortgage but it doesn’t have to be complicated when you have a professional help you along the way. Contact our team today to get the wheels in motion at (877) 251-9709  Tax Time - 2021 The IRS announced on March 17th, that they will extend the filing and payment deadline for individual federal tax returns from April 15th to May 17th. Here are a few important points to be aware of at this time:
Even with the new deadline, the IRS urges taxpayers to consider filing as soon as possible, especially those who are owed refunds. We are continually monitoring this situation and we will keep you updated as the conditions develop. If you have any questions, please contact us. The Colorado tax deadline is also extended to May 17, 2021. Source... Check with your individual state to determine if they have also extended the deadline. For more tax info and help, contact: Your Taxlady In this day and age, a Baby Boomer may very well be a solo senior for various reasons! According to Sara Zeff Geber, about 20% of Baby Boomers today do not have children. There are also thousands of Baby Boomers whose kids are estranged, not functional or live far away. They will also age solo! On any given weekend in a retirement community you will find lots of visitors milling around the property and visiting the residents. Most of these visitors are family; namely, adult children and grandchildren of the residents. These families are making sure their oldest members get out of their homes and remind them they are not alone in the world. What happens when the older generation in our society who do not have family to take them to lunch and visit with them? Who can they count on for companionship? And, who will give them aide when they reach a point in life where they cannot do everything for themselves?  It is crucial that solo seniors carefully prepare to ensure a safe and secure future for themselves. This includes:
********************************************* Here are helpful resources for a Solo Senior to age successfully:
Join a Facebook Group for Solo Seniors ~ Elder Orphans Facebook group Start a Club ~ Start your own club Find a Life Care Associate ~ Aging Life Care Association Do you want to know the 6 Myths of Retirement? Of course, you do! Myth# 1: How much should you save for retirement ~ “Your retirement plan and withdrawal strategy should be as unique as you are, taking into account your current finances, future income, goals and dreams along with many other considerations.” Myth# 2: Medicare will cover healthcare needs during retirement ~ Medicare can be a godsend for doctor visits and hospitalization costs. However, it does not cover most long-term care needs such as extended nursing home stays, assisted living and many types of home health care. Keeping health care costs in mind is a vital part of retirement planning. Myth# 3: I can’t count on Social Security ~ You can’t count on Social Security payments to cover all your retirement needs. However, it can make sense to estimate what your payments will be as part of your overall retirement planning and budget. Consider delaying Social Security payments beyond your full retirement age up until age 70. You may receive significantly larger monthly checks.  AnMyth# 4:
I can work as long as I have to ~ Did you know that half of all early retirements are due to illness or disability? Also, finding good paying jobs later in life can be difficult. The bottom line: it’s probably best not to rely too much on income that you may make during your retirement. Myth# 5: I’ll spend less and pay less taxes in retirement ~ You may actually be spending more in retirement than you thought. Think about traveling, visiting children and grandchildren as well as pursuing new hobbies and activities. It all takes money! Myth# 6: Home situation will stay the same ~ Moving is often a major part of retirement. You may decide to move closer to family members. Or, you may need an assisted living situation or an area with more transportation and maintenance services at hand. Make sure you consult with a certified financial planner (CFP) and/or a lawyer with expertise in finance issues for retirement. Avoid the 6 Myths of Retirement. For More… And More... 6 Myths of Retirement – Plan Now!  Hello. My name is Shannon Ming and I have been a licensed insurance agent since 2013. I started out selling Health Insurance, then expanded to Property and Casualty, hated it, and returned to health insurance. I really missed helping people with such an important product that can have such a profound impact in their lives. Through these changes in my career, I learned what I do, and don’t like. I also learned that my husband has the patience of JOB. If I had not taken the path above, to leave health insurance and then go into something I did not enjoy, I wouldn’t have realized that my passion has always been educating and protecting people. I just needed to find the right niche. About a year and a half ago, I became a Licensed Certified Medicare Insurance Agent and began focusing on health insurance benefits for seniors. I started out selling Medicare and ancillary products like hospital indemnity, vision, and dental insurance over the phone in several states. I then launched Senior Benefits Advisors to focus on educating and protecting seniors right here in my own community. But, I promise this is not going to be a boring story about insurance! This is a story about personal growth, friendship, and…..a cat. Really. A cat! I don’t think it is a mistake that the word assumption starts with the word ASS. Seriously, you don’t know what you don’t know. Fate, and a cat, has taught me important lessons. It has brought me to a specific niche in my business, and to getting to know my neighbor, my new friend. A friend who has changed me, and the course of my life. She doesn’t even know that yet. About 6 years ago, a family moved in right next door to us. When I would drive by their house, I would wave to the lady who lived there. She did not wave back. In fact, she would look right at me, turn around, and walk into her open garage. I kept waving anyway. For a while. One time I distinctly remember waving and thinking she may have smiled, but then she put her hand to her mouth, turned, and walked away. It was at that point that I decided my neighbor was not a friendly person. I quit waving. Somewhere around May of 2019, a very friendly tuxedo male kitten, we guessed to be around six months old, started showing up. He came over every single day. By the summer of 2020, he was here from about 6 in the morning until right after we fed him dinner. We have a glider outside that sits right in the sun. Rocky would sun himself there all day. I would go out and spend time with him every single day, because I work from home. It became a welcomed routine. At first, we didn’t know who he belonged to. My husband learned that he belonged to the neighbor, the unfriendly one, about 3 months after he started coming over. My husband named him Rocky, which I thought was funny because he was not neutered, and I have a warped sense of humor! Before we knew who he belonged to, we had bought him his own bowl and his own food. We even bought a little bed for him, and when the weather was bad, he would come in until the weather cleared. Rocky would show up early in the morning, then take off right after we fed him “kitty crack.” (the canned cat food he really liked.) He had the dry food and water during the day. I remember the last day we saw “Rocky.” It was a Sunday. September 27th, 2020, to be exact. He was over earlier lying in the sun. We would feed our dogs, our son’s cat who we are watching for 2 weeks (it’s been 13 months now) and Rocky, at 5:00 pm every day. As usual, he ate, and took off for home before it got dark. Rocky was quite the character. He was very chatty. The distance between our homes is quite spread out. We have a half-acre property, so the sidewalk between our two homes, is a bit of a walk. We could hear Rocky walking from his house to ours and up the long driveway to our front porch. He walked with such a purpose, talking all the way! After September 27th, we were not seeing Rocky anymore. Monday came. No Rocky Tuesday came, no Rocky. My routine was all messed up. No mid-day breaks to sit in the sun and pet Rocky. No animated talking face in the screen door at 4:45pm. My husband’s routine was all messed up too. Rocky loved the outdoors. So does my husband. The two of them would spend hours in the backyard gardening. Where he went, Rocky went. Watching them from the kitchen window was heartwarming. We lost our Himalayan “Bella”, after 12 1/2 years of companionship, in March of 2019. Rocky helped ease the pain of losing her, and he showed up just a couple months after her passing. Bella and my husband spent a lot of time in the yard together. The following Sunday, after no Rocky, I headed down the driveway to the neighbor’s house. The lady was outside. I had never chatted with her face to face before. I asked if she had seen her cat because he used to hang out at our house during the day, but we hadn’t seen him in a week. She said she hadn’t seen him since the Sunday before either. She also said she had seen a very large owl on Monday evening on our street. My husband had seen a fox while driving to work that week as well. It wasn’t looking good. My neighbor, let’s call her Dawn, because each Dawn is a new beginning, asked me if I could help her put up flyers to see if anyone had found him. Our hope was that someone found him and ASSumed he didn’t have a home and took him in. We laughed about that, because Rocky was an outdoor cat. He would drive anyone who tried to keep him indoors absolutely bonkers. But we still hoped that was the case. Luckily, I had pictures of “Rocky.” Really good pictures. Dawn came over, we picked a couple pictures, and made several flyers to put up around the neighborhood. I also posted in Next Door, the Humane Society, and several other places. Sadly, we never found him. but all three of us, Dawn, myself, and my husband, have “seen” him. He came to say goodbye in our dreams. I still think I hear him sometimes. The first time Dawn came over, she saw my Senior Benefits Advisors showing that I help people with Medicare and more, on my table. She asked me if I could help her with hers. I set an appointment with her to meet the next day and learn about her situation. I would never have approached her to review Medicare with her as she is obviously not 65 years of age. Dawn came over the next day and we sat at the kitchen table, getting to know each other. It turns out she is not unfriendly. At all. She is on a very fixed income and can not afford glasses. She never saw me wave at her. I learned that she has a habit of putting her hand to her face when she smiles because, due to a chronic health condition, she has no teeth. She told me she is embarrassed about not having teeth and has created this habit to hide this fact. I also learned that she is on Medicare because of chronic health conditions she was born with. In fact, there are many people under the age of 65 on Medicare. Many of these people also have Medicaid as they are unable to work due to their health conditions. They live on very fixed incomes and often have excessive medical bills, or, like Dawn, they go without. Because Dawn has both Medicare and Medicaid, she is what we call in the insurance world, Dual Eligible. There are special plans developed by insurance companies to help this population. These plans are called Dual Eligible Special Needs Plans. (D-SNP for short) Dual Eligible Special Needs Plans have extra benefits built into them. Life changing extra benefits. When I say extra, I mean more that original Medicare and Medicaid offers. Before I became a certified Medicare Broker, I would have thought that people would automatically know there are extra benefits, and more options available to them. Maybe someone who helps them get on Medicare would ask if they have Medicaid and tell them they may qualify for extra benefits. They do not. That’s not their job, it’s mine. There are four different levels of Medicaid eligibility, based on income levels. Each D-SNP plan accepts different eligibility categories. There are also two categories of dual eligible beneficiaries; partial-benefit, and full-benefit, and four levels of Medicaid based on your income levels. Your Certified Medicare Insurance Agent can help you find out what level you are, and if you qualify for a D-SNP in your area. A great reference to learn more about Dual Special Needs Plans is from the National Contracting Center and can be found here: https://nccagent.com/resources/guides/dsnp-guide/. It’s a guide for agents, but I find it is very informative for consumers as well. Dawn’s level is a Full-Benefit Dual Eligible Beneficiary. (FBDE) Meaning she is eligible for the Dual Special Needs Plan at no cost to her. The extra benefits of each plan vary, but may include some, all, benefits not listed here, or a combination of the following benefits:
While getting to know Dawn, I learned that her doctor wanted her to swim to help with pain she endures due to her health condition. We have also shared meals together and I learned that there are several healthy foods she simply can’t eat. I learned that she often can’t even get to her doctor’s appointments because she doesn’t have gas money to get there. After confirming that she did in fact qualify for the Dual special Needs Plan at Full Benefits, she learned that she will be able to get transportation to appointments if needed. She will get a gym membership where she can swim to alleviate pain as her doctor recommends, and most important to her right now, she will be able to get dentures. When my husband came home from work, he found me sitting with our neighbor, both of us crying. In part because we talked about Rocky coming to tell us he is fine, and partly because we know that she will soon be getting the health care she needs but could not afford. And teeth. I was able to enroll Dawn in the D-SNP plan with a start date of January 1. She already has an appointment with a dentist in January. I see a change in her already. She is excited. She has hope. Her life will change when she gets dentures. She will have more confidence, and better health due to being able to eat healthy foods she could not eat before. Also, swimming is going to help her alleviate pain, and live a happier, healthier life. I know she will use this gym benefit. She is so grateful that we had this “chance” encounter. Because of a cat. Our “Rocky.” Since helping Dawn, I keep finding myself in situations where people need my help. I was at a physical therapy appointment a couple weeks ago, and when I left, I found that my transmission was shot. I was able to get help from the staff getting “Lucy” into a parking spot. A gal I was chatting with while working out, turned out to be good friends with a good friend of mine. She offered to give me a ride home. I mentioned when leaving her truck that if she knew anyone who needed help with Medicare, I would be happy to help them as Open Enrollment is ending soon. She said, “Me.” I need help! Seriously, she is no where near Medicare age. It turns out that she has a chronic health condition. Her health condition is very rare, and she has been dealt many challenges. One of the side effects of her condition is hearing loss. She qualified for the D-SNP at the Full Benefit Level and will now be getting hearing aids. She is beyond excited. What a blessing. Before learning about this population, people on both Medicare and Medicaid (Dual Eligible), and the existence of Special Plans that can help them get life changing extra benefits they may not be aware of, I had been searching for meaning in my life. Asking the question “What is my purpose?” It seems that God, the universe, fate, or whatever you call that force that leads us to circumstances and “chance” meetings, is working in my life. I am committed to finding people who qualify for, and need the products and services offered by the Dual Special Needs Plan. If you or someone you know has both Medicare and Medicaid, and you would like to find out if you qualify for a D-SNP, you can reach out to me in any of the following ways: Shannon Ming- Senior Benefits Advisors shannon@seniorbenefitsadvisors.pro Business Phone- 719-315-5588 Book An Appointment Through Facebook- https://www.facebook.com/shannonmckeonming (Click on Book Now.) Or, you can reach me through the Colorado Springs Over 50 page online: https://mms.coloradospringsover50.com/csoo/mem_SeniorBenefits (fill out the contact me form.) In closing, I want to thank “Dawn” for teaching me that you don’t know someone until you take the time to get to know them, for becoming my friend, and for sharing “Rocky” with us. Yes, parents stuff can be a boomer burden! Many baby boomers and those in the over 50 group are facing the inevitable in life. They have aging parents or their parents have already passed away. Besides coping with the emotional burden, there is also the matter of the financial aspect of a death and also dealing with your parents stuff. It can certainly be overwhelming!  Top 4 suggestions for action to take now and later: 1. Start Now – If parents are alive and willing, ask if they would like help in deciding what they want done with their belongings when they die. They might also want to start giving things away to family and friends while they are still alive. 2. Savor Memories – One way to remember a loved one is to make shadow boxes containing mementos of their hobbies and activities. They take up much less room and provide pleasant memories of a loved one. They can also be made for other members of the family. They make nice mementos for grand children and nieces and nephews. 3. Don’t Wait Too Late – You will be surprised to know that your aging parent (s) would actually welcome help in culling out possessions. It is a good time for them to reflect back on their life. It is also an excellent way to find out more about their life that you maybe didn’t even know! Communicate with your parents early! 4. Dealing with Siblings – Keep in mind when working with siblings in this situation that there are differences in how things should be done. Some adult children just want to “get it done” without giving much time or thought to the process. There are also those that want to touch each item and reminisce to great lengths. Come up with a plan on how you are going to deal with your parent’s possessions that will be workable for all to handle. Professional organizer, Claudia Smith, advocates a simple rule of thumb. “We spend our first 40 years in life collecting things and the second 40 years getting rid of things.” How to Deal with Your Parents Stuff!
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