Take stock of your resources, read up on your options. Here, you’ll gain insights on common strategies to help you take advantage of the best ways to fund your healthcare needs today and in the future.
We’re in the midst of Medicare open enrollment season until December 7. Planning can be complicated, so it’s critical to consider all of your options and answer the important questions.
With all the changes that have taken place over the years, it is now much harder to take advantage of a tax deduction for medical expenses on your federal income tax return. First of all, in general, you must itemize your deductions, and these must be over 10% of your Adjusted Gross Income (AGI) to benefit from the medical deduction.
Are you considering early retirement? Since Medicare isn’t available until you are 65, you’ll need to find an another way to cover medical, hospitalization, and prescription drug costs until you become Medicare-eligible.