The American Retirement Advisor
Retirement should feel like freedom, not a puzzle. The American Retirement Advisor is your daily dose of straight talk on the three decisions that shape every retirement: your healthcare, your income, and your inheritance plan.
Each episode is a short, focused read of our latest article, drawn from real conversations with real families at American Retirement Advisors in Scottsdale, Arizona. No jargon. No sales pitch. Just the kind of advice you'd want from a trusted friend who happens to do this for a living.
Hosted by Ian Schaeffer, author of Medicare Made 123Easy, COO of ARA, and founder of 123Easy Studios. Articles read by Betty.
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The American Retirement Advisor
3 Medicare Gaps That Catch Retirees Off Guard
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Medicare doesn't cover dental, vision, or the income surcharge most retirees don't see coming. Here's how to fill the gaps.
Read the full article: https://news.americanretirementadvisors.com/medicare-gaps-dental-vision-irmaa/
American Retirement Advisors helps families in Arizona and Nevada navigate healthcare, retirement income, and inheritance planning. Want to reach out? Text us at (602) 975-0372, email support@americanretire.com, or visit https://americanretirementadvisors.com.
Welcome to the American Retirement Advisor, coming to you from One to Three Z Studios. Real stories, real strategies, and straight talk about healthcare, retirement income, and inheritance planning. I'm Ian Schaefer, joined with Eddie and Betty. Let's get into it.
SPEAKER_03One of our advisors sat down with a client recently who said something we hear all the time. I thought Medicare covered everything. They just enrolled, and the two things bothering the most, a dental crown and new glasses, weren't covered at all. Here's the thing: they're far from alone. Medicare covers hospital stays, surgeries, and doctor visits, but it leaves three gaps that catch almost every new enrollee off guard.
SPEAKER_01Medicare does not cover routine dental care. No cleanings, no fillings, no crowns. As one client told us, you bite down wrong on an apple and you need a crown. That crown, you're paying out of pocket unless you have a separate dental plan. Standalone dental plans exist, but they vary widely. Some are worth the premium. Others charge you more in monthly payments than you'd ever get back in benefits. That's worth shopping carefully before you sign up for the first plan you find.
SPEAKER_03Routine eye exams and glasses aren't covered by original Medicare either. Medicare will cover eye care tied to a medical condition, like glaucoma or cataracts, but a new prescription for your reading glasses? That's on you. But that's not the whole story. Some Medicare Advantage plans bundle dental and vision, which sounds convenient. The trade-off is narrower doctor networks. If keeping your current doctors matters to you, and it matters to almost everyone we talk to, a Medicare supplement plan paired with separate dental and vision coverage might be a better fit.
SPEAKER_01Now, here's where it gets interesting. If your income is above a certain threshold, Medicare charges you more. It's called ERMA, the income-related monthly adjustment amount, and it applies to both your Part B and Part D premiums. The catch, ERMA, is based on your tax return from two years ago. A one-time income event, like selling a property or taking a large distribution, can bump your premiums up two years later. Most people don't see it coming until they open the letter from Social Security.
SPEAKER_03If you've had a life-changing event, like retirement, divorce, or the loss of a spouse that lowered your income since then, you can appeal using Form SSA 44. Ask your advisor to walk you through it. Think about that for a minute. Three major coverage gaps, and most people don't find out about them until they're already enrolled. Here's what you can do right now.
SPEAKER_01Review what Medicare actually covers for your situation. Compare standalone dental and vision plans in your zip code. Don't assume the first option is the best deal. Check whether a spouse's employer or retiree plan already covers dental and vision. Sometimes the best option is one you already have. And before making any big financial moves, ask how it might affect your Irma two years down the road.
SPEAKER_02Ann Schaefer wrote Medicare made 123 easy because this stuff shouldn't be this hard to figure out. But even with the book, sometimes you just want someone to sit down and walk through your specific situation. That's exactly what we do at American Retirement Advisors. We review your coverage, compare every option in your area, and handle the paperwork, all at no cost to you. Give the team at American Retirement Advisors a call. No pressure, no pitch, just a conversation.
SPEAKER_01A quick note before we wrap up: today's episode covers financial topics for educational purposes only. American Retirement Advisors does not provide tax or legal advice. Please consult a CPA or tax professional before making any decisions based on what you heard today.
SPEAKER_03This is Betty with the American Retirement Advisor. Thanks for listening. If this episode helped you think differently about your retirement, share it with someone who needs to hear it. You can read the full article and browse hundreds more at AmericanRetire.com. And be sure to subscribe so you never miss an episode. We publish daily. See you next time.
SPEAKER_00Thanks, Eddie. Thanks, Betty. Until next time, this is Ian Schaefer coming to you from 123Z Studios. I hope you've enjoyed this recording of the American Retirement Advisor, where we make healthcare, income, and inheritance planning 123 easy.
