Your Safe Money Show Buying a house here's what not to do 7 11 2020

July 11th info for Your Safe Money Show

Sure hope you can listen Saturday morning July 11th for Your Safe Money Show. For most of us, buying a house is one of the largest financial purchases we ever make. I have things you should NEVER do when buying a house.
Also, there’s a difference between an “Annual Physical”, and an “Annual Wellness Visit”, when it comes to Medicare and what they’ll pay for. This is important information if you are on Medicare.
And I’ll explain how to avoid fees on your Social Security debit card. Yes, there is such a thing as a Social Security debit card.
Listen at 95.5 FM KBEK at 7:30 a.m. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Medicare Part B enrollment explained

Yesterday I said i'd continue a discussion on Medicare Part B enrollment.
How do you enroll in Medicare Part B and how does Part A work?
If you are already receiving Social Security or Railroad Retirement benefits, you will be notified three months prior to your 65th birthday that you are about to become a Part A Medicare enrollee, and that Part B is an option. You’ll receive the Part B card at the same time as the Part A card.
If you choose not to enroll in Part B, you must return the card (which means you’re rejecting Part B coverage) or the premium will automatically start to be deducted from your Social Security checks. If you keep the card, Part B coverage kicks in the month you turn 65.
If you’re not already receiving Social Security or Railroad Retirement benefits, you’ll have an opportunity to enroll in Medicare B (along with Medicare A) during a seven-month window that includes the three months before the month you turn 65, the month you turn 65, and the following three months. If you enroll in the three months prior to the month you turn 65, your coverage will be effective the month you turn 65.
If you'd like assistance understanding Medicare call me for an appointment at 320-679-5183 or go to yoursafemoneyshow.com.

Delaying Medicare Part B

I've had some questions lately about enrolling in Medicare Part B. The most important thing to remember about Part B is when you're eligible for Medicare you can delay enrolling but you must meet certain criteria, so you don’t get penalized. Those penalties increase an enrollee’s monthly Part B premium by 10 percent for each 12-month period the person could have been enrolled but wasn’t. Also, those who miss their initial enrollment window and don’t meet every single requirement for the Special Enrollment Period for Part B generally can only enroll during January to March of each year, with Part B coverage not effective until that July – leaving up to a year or more without primary medical coverage.
One of best ways to avoid the Part B late-enrollment penalty and enroll in the right medical coverage at the right time, is by having group health coverage through your own or a spouse’s current employer, and have had that coverage during the first month you qualified for Medicare. You then must enroll in Part B coverage within the eight months following the last day of the month when you or your spouse's employment ends, or you or your spouse’s current employment-related group health plan coverage ends. Whichever comes first.
I'l share more on Medicare enrollment tomorrow. If you have questions call 320-679-5183 or go to yoursafemoneyshow.com.

Your Safe Money Show Elder Justice 7 4 2020

Your Safe Money Show highlights for July 4th

For our 4th of July edition of Your Safe Money Show we’ll look at Elder Justice in America and what Congress is doing on this important topic.
There’s new rules for medical and dependent care FSA’s, Flexible Spending Accounts, I’ll share those changes.
And we get questions if you delay enrolling in Medicare Part B and other aspects of this, so we’ll try to clear up that confusion.
Listen at 7:30 a.m. at 95.5FM KBEK on Saturday's. They stream live at kbek.com.
Hear shows at your convenience at the podcast page at yoursafemoneyshow.com.

Looking for a good long-term strategy?

No matter where you are in your financial journey, times like these are never fun! A good long-term retirement strategy may be critical to being as prepared as possible. Contact me today for help!
Todd Sjoberg at Sjoberg & Holmstrom Financial Services in Mora. We are an independently owned and operated financial service agency and were not affiliated with any other safe money agency.
Call 320 679- 5183 or go to yoursafemoneyshow.com.