These are the 5-Star Medicare Advantage Plans for 2021 in Florida

These are the 5-Star Medicare Advantage Plans for 2021 in Florida

If you are a Medicare patient, you have undoubtedly noticed a recent torrent of ads from Medicare insurance providers. This is an annual event, coinciding with Medicare’s Open Enrollment Period, which runs from October 15 to December 7 of each year. During this period, seniors can easily sign up for a new plan, switch plans or leave a plan. When the enrollment period ends, all of these options become more difficult, if they are available at all. During this time, seniors may enroll in a Medicare Advantage Plan if they have been enrolled in original Medicare (Parts A and B) or move from one Medicare Advantage Plan to another. These Medicare Advantage or “MA” plans are rapidly growing in popularity. In fact, enrollment in MA plans has doubled in the past decade, and the Congressional Budget Office predicts that nearly half of all Medicare beneficiaries will be in MA plans by 2029. There are good reasons for this trend. It has always...
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This is the ideal retirement lifestyle investment for travel lovers

This is the ideal retirement lifestyle investment for travel lovers

Retirement is the perfect time to make dreams of extended travel come true, but it is not always easy on the wallet. Flights, hotels and rental cars can be a headache. More and more retired Americans are looking to owning an RV because of its hassle-free nature but have no idea where to begin with their search. The size and unit type (motor home or travel trailer) can be hard to determine. Plus, there are many considerations for potential RV owners. Who will be doing the driving? What lifestyle features are essential (i.e. multiple beds, bathrooms, washer/dryer, dishwasher, or large screen TV)? How often will it be used—only on weekends, a month or two out of the year or for long periods of driving and touring? Where will the RV be stored when it’s not in use? Thankfully, there is someplace local that can help with all those questions and more—Giant Recreation World. They are a trusted and recommended RV dealer...
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Gospel singer sees youth flocking to Christianity

Gospel singer sees youth flocking to Christianity

| Originally published in the Fall 2020 edition of OurSeniors.net Magazine | On our magazine cover, we have Garrett Hornbuckle, his wife Danielle and daughter Ella Grace, because they are an inspiration that we should look to for hope for our next generation. When he was younger, Garrett grew up in a broken home, not having a close relationship with his biological father and his mother remarrying when he was nine into a broken marriage. After attempting to find validation in a variety of things during high school, he found a place in his youth group that changed his life forever. His youth pastor invested in him and believed in him telling him that he should pursue something with his music talent. When his band, All Things New, was climbing the charts and becoming very successful, Garrett went through a traumatic experience. His band members abandoned him just as their second song hit the radio and they were going on tour with famous...
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Are your Social Security benefits taxable?

Are your Social Security benefits taxable?

Will you have to pay income tax on the Social Security benefits you receive? It depends on many variables. The IRS uses a measurement called “combined income” to determine if you need to pay taxes on any part of your Social Security benefits. Combined income is made up of two parts: 50% of your Social Security benefits and; ALL of your other income. Your “combined income” equals ½ of your Social Security benefits + your adjusted gross income + nontaxable interest or other nontaxable income (if any). For many taxpayers, there is no difference because they do not have income that need to be excluded from their “Adjusted Gross Income” (AGI) total. If you are married, filing jointly and your total combined income is between $32,000 and $44,000, you may have to pay an income tax on up to 50 percent of your benefits. If your combined income is more than $44,000, up to 85 percent of your benefits may be taxable. If...
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What is a revocable living trust and do I need one?

What is a revocable living trust and do I need one?

| Written by Andrew C. Grant | One of the most frequent questions I get when meeting with new clients to plan for their estates is whether they need a trust or not.  This question is usually prompted by a lack of information, or misinformation, as to what a trust does as part of a person’s estate plan.  This article will attempt to provide a little clarity on the subject. A trust is most commonly used as a means of avoiding probate at the grantor’s death.  These trusts are referred to as revocable, or living, trusts.  As the name implies, they are created during a person’s lifetime and are fully revocable or amendable during that lifetime.  All assets transferred to the trust are treated as if the grantor (who is usually also the trustee) still owns them directly with no loss of control.  Upon the grantor’s death, assets that are already in the trust pass to the grantor’s beneficiaries without having to...
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Plan now for the 2021 Medicare open enrollment period

Plan now for the 2021 Medicare open enrollment period

Medicare’s Open Enrollment Period (OEP) runs from October 15 to December 7 of each year. The choices made during that time become effective the following January 1, remaining in effect for the coming year. During the OEP, Medicare patients may make changes that can substantially affect the way they receive and pay for medical care. This topic can become confusing, even scary. The torrents of marketing material received, and the critical importance of this issue lead many seniors to freeze in place and do nothing. This is a mistake; nothing is more important to seniors than getting the very best out of Medicare. Each year, the Medicare OEP should be a time to reevaluate your personal situation and make an intelligent decision. Advertisements aimed at Medicare patients sometimes cloud this issue. The changes coming to Medicare in 2021 are not great, but this does not mean that seniors should let the enrollment period pass without considering their own circumstances. A senior’s personal...
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Important documents you should have in place now

Important documents you should have in place now

| Written by Laurie Taylor | “By failing to prepare, you are preparing to fail.” ― Benjamin Franklin When I talk to clients about having their Estate Documents in place, I am often dismissed because "we don't have enough money to worry about." Estate Documents deal with much more than money. They also state your wishes and provide for your needs if you should become incapacitated. At the bare minimum, you need to have in place: A Living Will - A living will is a document that provides specific instructions about healthcare treatment. It is generally used to declare wishes to refuse life-sustaining treatment under certain circumstances. If you do not want to be kept on life care support, you absolutely need this document. Health Care Proxy or Durable Health Power of Attorney - In the event that you are unable to make treatment decisions, the healthcare proxy allows you to choose someone you trust to make treatment decisions on your behalf. The person...
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Why tax-deductible items are not what they appear

Why tax-deductible items are not what they appear

| Written by Brett Porter, EA for Winter 2020 Edition of OurSeniors.net Magazine | Every year you hear it. You may even say it yourself. “I can just write it off on my taxes,” but can you really? Most people are completely confused as to whether or not all their tax deductions are even making a difference. Why is this? Most people find their tax return to be a huge burden—they do not want to think about it throughout the year, they do not want to do it come April, and they most certainly do not want to review what all those numbers are on their 1040. They just want to hand in their information to their accountant and be done with it. Do you know if you itemized last year? A lot of people do not even know that there are two options—itemizing or the standard deduction, or what these options mean. They just hear throughout their life that certain items are...
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