Emergency Money

Medicare Open Enrollment

Medicare open enrollment runs from October 15^th through December 7^th. This is when Medicare plan enrollees can reevaluate their coverage, whether it’s Original Medicare, Medicare Advantage or a prescription drug plan through Medicare Part D. To review:  Medicare Part A is hospital coverage. Part B is for medical coverage like doctor and clinical lab services, outpatient and preventive care, screenings, surgical fees and supplies, and physical and occupational therapy. Medicare Part C combines both A and B. Medicare Part C (also called Medicare Advantage) is a different way of getting Medicare Part A and Part B coverage. Medicare Part D is for prescription drug coverage. Seniors can choose among an average of over two dozen plans for their Medicare Part D prescription drug coverage, and each offers different prices and coverage. That’s why this open enrollment period is so important to compare plans. Call for an appointment at 320-679-5183. 

Your Safe Money Show Snowbird tips 10 27 18

Highlights for October 27 Your Safe Money Show

Coming up on Saturday October 27 Your Safe Money Show, since were in the middle of Open enrollment for Medicare and MNSure Open enrollment starts November 1st, I thought it would be a good idea to go over common terms when comparing plans. 
When people look at retiring they often time go by age- 62 or 65 or whatever. I have a new number for you to consider before retiring.
And I’ll have tips for snowbirds in retirement.
Hear the show at 95.5FM KBEK at 7:30 Saturday mornings. They stream live at kbek.com.
Hear recent shows by going to the podcast page at yoursafemoneyshow.com.

Medical debt and your credit score

Updating your resume

If you’re looking for a job later in life, you might need to refresh your resume, I have ideas on how best to do that. 

Remove college graduation dates except if you have a new certificate or degree. 

Condense the resumé down to two pages max.  Your most recent 10 to 15 years of experience matter most, so you’ll want to highlight those, while condensing prior experience into a few sentences or bullet points.

Replace older font styles, such as Times New Roman or Garamond, with more contemporary fonts like Tahoma, Verdana or Cambria. 

Eliminate double spacing between sentences (unless you’re in academia). They’re a dead giveaway that you came of age during the typewriter era. Avoid phrases that needlessly date you, like “30+ years of experience.” Use “20+ years of experience”. This makes your point without highlighting your advanced age.

Remove your street address and add hyperlinks to your LinkedIn address and, if you have one, your professional website.

Replace an AOL or Hotmail email address with one from Gmail. While you’re at it, avoid using numbers in your email address that could be construed as a birth year.

If you’ve spent the bulk of your career with one employer, don’t list the full date range at the top of the resumé. Instead, list dates and responsibilities for your most recent positions and consolidate your earliest roles without mentioning dates.

Your Safe Money Show Medicare Updates 10 20 18

October is Financial Planning Month

October is Financial Planning Month, which serves as a useful, annual checkpoint to make sure you are on track to meet your long-term financial goals. You can use this time to learn about all of your options and prioritize your goals going into the New Year.

Highlights for October 20 Your Safe Money Show

Coming up on this Saturday's (October 20) Your Safe Money Show,.
Medicare Open enrollment is under way and I have information about Part B premiums going up and zero premium plans being offered.
Your Social Security check will rise in 2019, I’ll tell you by how much.
And prescription gag clauses are being banned, I’ll explain that as well.
Listen at 7:30 a.m. at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows by going to our podcast page at yoursafemoneyshow.com.

Social Security Protection

Real IDs

Minnesota offers three different ID options: a standard driver's license, a REAL ID and an enhanced ID. All three will be acceptable for driving purposes, but after Oct.1, 2020, you will need a REAL ID, an enhanced ID or a passport to board a domestic flight or enter a federal facility.
There are a few more hoops to getting a Real ID too. When you go to the license bureau you’ll need a document proving your identity, date of birth and legal presence in the U.S. (like a passport, birth certificate or Green Card). Proof of your Social Security Number (like your SSN card or a W-2 form). Two documents proving your residency in Minnesota, such as a credit card statement, utility bill or valid driver's license.
What about enhanced ID’s? Enhanced driver's licenses can be used in the same way as a Real ID license, but will also allow you to travel to Canada, Mexico and parts of the Caribbean without a passport.
The process is a little more involved than a standard or Real ID. Applications will require applicants to complete an interview questionnaire. You also need to be a U.S. citizen to get one.
You can find more details on the Minnesota Department of Public Safety's Real ID website by going to dps.mn.gov.

Your Safe Money Show Real ID 10 13 18

Medicare Open enrollment

Medicare Open enrollment start October 15 and runs through December 7.
 If you'd like help choosing a cost plan, advantage plan, supplement or Part D drug coverage, call for an appointment at 320-679-5183.

Highlights for October 13 Your Safe Money Show

Tune in Saturday morning at 7:30 at 95.5 FM KBEK to hear Your Safe Money Show. For the October 13th show, we’ve been hearing about “Real ID” for a while now and they finally are available, so we’ll go over what documents you need and all the other details.
A new survey shows women are still struggling with financial shocks when their spouse passes, this is a hard topic but so important, I’ll have ways to prepare.
And this is a great time to go over retirement accounts and make some tweaks that will help your savings in 2019. 
KBEK streams live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Limit medical billing errors

Many medical billing problems start because people don’t understand the basics of their insurance, including deductibles, coverage limits, and the network of providers. Be sure to understand what your insurance covers. Also make sure your clinic or doctor has your correct information on file too. Call the doctor’s office and provide your plan name and group number to confirm that the doctor is in your network. Check to see which hospitals in the area take your insurance.

 Some providers send bills before they’re processed by insurance, followed by more notices. It’s so confusing that many people pay what they don’t owe, while others wait too long after they get an overdue notice. To make sure you pay what you actually owe, wait until you get an explanation of benefits (EOB) for that date of service from your insurer. Look to see what insurance has paid and the amount that is your responsibility. At that point, you’ll get another bill from the provider reflecting the insurance payment and the amount due from you. If you get a medical bill that seems incorrect, call the provider and your insurer and explain why the bill seems wrong. Do this as soon as possible as there are time limits on accounts.

Your Safe Money Show Age proof your resume 10 6 18

Closed Columbus Day

Sjoberg & Holmstrom Financial Services will be closed Monday October 8 for Columbus Day.
We will open at 8 a.m. Tuesday October 9th.

Difference between credit and debit cards

How to find a lost insurance policy

You might think no one could lose track of a life insurance policy. Think again. At one point, it was estimated that at least $10 billion in life insurance policies nationwide had gone unclaimed or unpaid. Many families don't know if someone took out a life insurance policy. Or they don't know what company holds the policy. People may move around from one state to another and lose the paperwork. 
For the most part, the burden is on the beneficiary to follow through after a loved one passes to claim on a policy. 
To find out if there’s a policy out there, what you want to find is any kind of paper trail that might uncover a lost or little-known insurance policy for a deceased loved one. Where to look: Bank statements or old canceled checks could show payments that were made to life insurance companies over the years. Look for paperwork in lock boxes or safety deposit boxes. Ask family members, financial advisers and insurance agents about life insurance policies. Review copies of the deceased's tax returns for the past two years to spot any interest income or expense reported that relates to a life insurance policy. Check with any former employers of the deceased, as they may have information on group life coverage.
 Another option is the National Association of Unclaimed Property Administrators or www.unclaimed.org to do a search. There’s also The National Association of Insurance Commissioners they have their own Life Insurance Policy Locator Service.
 Best thing to do is always let loved ones know if you have a policy and where that policy is. 

Your Safe Money Show Finding a lost insurance policy 9 29 18