Happy 65th birthday, boomers. Now what?

(MONEY Magazine) — The first wave of of baby boomers — including Cher, Steven Spielberg, George W. Bush, Bill Clinton, and nearly 3 million other Americans — will turn 65 this year. If you're among those celebrating in 2011 or the next few years, you may be feeling a bit gloomy about a birthday that officially crowns you a senior citizen. You're too young to be old, right?

Adding insult to arthritis, this big birthday doesn't offer all the perks it used to: You can't collect full Social Security benefits at age 65 anymore; boomers qualify between 66 and 67, depending on their birth year. And most "senior" discounts — from travel bargains to blue-plate specials — kick in from 50 to 60 nowadays, as horrifying as that may be. (Seeseniordiscounts.com for a comprehensive list.)

That's not to say that this trip over the hill isn't a financial milestone at all. There are still a few important actions to take and things to think

about as you approach this new mark of, um, maturity.

"If you don't take Medicare at the appropriate time, you face a lifetime of penalties and will have gaps in coverage," says Ilene Stein, a lawyer at the Medicare Rights Center.

You can enroll, at medicare.gov or by calling 800-772-1213, from three months before you turn 65, and Medicare will kick in the first day of your birth month. You have three months after your birthday to enroll without penalty — unless you're still working and have comparable insurance through your job, in which case you have eight months after that coverage ends to join up.

Deciding between original Medicare (Parts A and B) and privately run Advantage plans (Part C) can be overwhelming. But you can compare premiums and out-of-pocket costs for all your options at medicare.gov. Just be sure to narrow your Advantage choices to plans that get four or five stars from Medicare.

Facing higher costs under health care reform, some plans may slash benefits or raise premiums. But as of 2012, the highest-rated plans will get federal bonuses to help prevent this.

At 65 you're entitled to some tax breaks that can add up to serious savings. These include:

* A larger federal deduction. The standard deduction increases for taxpayers 65 and older — good news for those who don't itemize. For singles it goes from $5,700 to $7,100; for couples in which one partner is 65 it rises from $11,400 to $12,500; when both spouses are 65 or older, it's $13,600. That last boost, for those in the 28% bracket, knocks $616 off your tax bill.

* Property tax breaks. Forty-five states and the District of Columbia give seniors a break on real estate taxes for a primary residence, says analyst Cathleen Calhoun of tax information service CCH; in the vast majority of them you must be 65 to qualify.

The deals vary: In Ohio the Homestead Exemption cuts about $400 off yearly property taxes. In Illinois the assessment on your home is frozen when you or your spouse turns 65. Check with your tax assessor's office to see what's offered and if there are any income limits or prerequisites.

* Assess retirement plans. Sixty-five may no longer be the retirement turning point it used to be, but it's still a watershed year psychologically. If you're still working — nearly half of leading-edge boomers are, a recent AARP survey found — you may be feeling an itch to get out. Put that desire to use by thinking about how you'd like to spend your retirement. Will you travel? Will you work at all? Will you move?

Next, figure out how much your dream life will cost, and stress test your nest egg. The Retirement Income calculator can help you determine how much income your savings, Social Security, and any pension will provide. If it isn't enough, you could dial back your plans or work a few more years to postpone drawing on your savings and collecting Social Security.

Delaying the latter beyond your full retirement age increases your benefit 8% a year. Determine what your payout will be with the Retirement Estimator at ssa.gov. Who says you can't always get what you want? Oh, just some old dudes. 

March 4, 2011: 6:47 PM ET

Problem is, they are partying in our home and on our dime.

That means we are left to pick up the empty bottles, clean out the ashtray's, wash the dishes and pay the tab.

Consumers have acted responsibly during the recession and it has not been easy. Some have lost jobs, lost homes and families have broken up. Sad as that is, most of it could have been avoided.

As a nation, we partied too long, running up charge cards and treating our homes like a personal ATM, never worrying about how we would pay for the good times. The recession has hit everyone, both rich and poor.

We have learned our lesson but Washington has not. Their answer is to raise taxes on everyone, not just the rich. They say they are increasing taxes on big business but never say where businesses get the money to pay the taxes.

It is from you and me.

Almost half of what the government spends is for three so-called "entitlement" programs plus interest on the debt. In the 2010 budget (with a $1.3 trillion deficit), Medicare and Medicaid consumed 23% of dollars spent, Social Security another 20% and interest on the debt was 6%.

Another way to look at it is this.

For the 2010 year the government will spend $2.2 trillion in dollars they collected from us, plus another $1.3 trillion they borrowed (or simply printed). So looking at just the $2.2 trillion in cash on hand, they spent $1.7 trillion on Medicare, Medicaid, Social Security and interest.

That is 77% of what they actually brought in that went back out the door for things that have nothing to do with national defense.

Sooner or later, cuts will have to come in these entitlement programs. Taxing the rich won't be enough, neither will taxing companies that simply trickle down the taxes to consumers in the form of higher prices.

Kaiser Health News printed an interview with Douglas Holtz-Eakin, former CBO director. Here are some of his observations.

If you want to overhaul entitlements, where do you start?

Social Security is easiest. Health is bigger numbers and we know that, but it’s all intertwined with the [health care law]. The president has put a political firewall on that. 

That's one of the greatest disservices of the act. It paralyzes real entitlement reform for a period, at least until after 2012.

Which perhaps not so coincidentally is after the next election . . .

If Republicans win big in the next election, what happens to the health law and entitlement spending?

If Republicans take the Senate in 2012, then here we go, if they take the White House, [the health law] is gone.

I think it's a no-brainer to say we simply have to put [entitlements] on a budget. If nothing else, let's say we have a budget for Medicare and Medicaid. And a good way to budget in Medicaid is in fact to give a fixed grant, a block grant, to the states. That limits taxpayer exposure.

Well, it doesn't REALLY limit taxpayer exposure, but rather it shifts the cost of care back to the consumer. In other words, rearranging the deck chairs without accomplishing anything.

It get's the federal government off the hook but not us.

How will the pressure on entitlement spending affect implementation of the health law?

If you look at this from just a budgetary [standpoint], I really believe these pressures are going to grow enormously, and I think the Affordable Care Act will come under pressure.

I always believed [the law] was a dead man walking from the beginning. It’s going to fall under its own fiscal weight. It has so many bad internal contradictions. I have employer-sponsored insurance I get no help. This identical person doesn’t have employer-sponsored insurance, they [get a subsidy]. The law, I don’t think, can hang together over a long period of time. I think [Republicans] should help topple it faster. 

This is not a Republican or Democrat issue. This is a national issue that affects everyone, regardless of political affiliation. It is time to stop the political finger pointing and attack the problem head on. We cannot continue to bury our head in the sand and pretend it will go away.

Because it won't . . .

Medicare Trial Right

Medicare affords you certain rights to buy a Medigap plan regardless of your health. One of those guarantees is known as your Medicare trial right to make a change in your plan.

If you bought a Medicare supplement plan, such as the Mutual of Omaha plan N, and feel you can no longer afford your premiums, there may be a way for you to migrate to a more affordable Medigap plan by exercising your Medicare trial right.

High Medigap Premiums

Are your Medigap premiums too high? Are you no longer able to afford the premiums on your Medicare supplement plan? Did you purchase a plan that has become prohibitively high, making it impossible for you to pay your monthly premiums?

Most of the time you are stuck paying the high premium, or worse, you just have to drop your plan.

Say you purchased a Mutual of Omaha Medicare supplement plan N last year when they were almost giving it away to anyone who could fog a mirror. A year of so later and your premiums may have increased twice or even three times. Your current Medigap premium may be 20% higher than your initial rate and you are staring at another rate increase.

What can you do?

Your health may have changed since you first applied for coverage, or you may not have been healthy when you initially applied.

Your Medicare trial right may be your saving grace.

Simply stated, your Medicare trial right applies to those that bought a Medicare Advantage plan when they first turned age 65 as well as seniors who had a Medigap plan, switched to a Medicare Advantage plan, and then want to go back to original Medicare and a Medigap plan by exercising their Medicare trial right to switch.

If your Medicare supplement plan is no longer affordable, ask us how you may be able to switch to a lower premium plan by using your Medicare trial right. Georgia Medicare Plans has affordable Medigap rates from most major carriers including Blue Cross, Humana, Mutual of Omaha, New Era and more.

April 13, 2011 — Treating high blood pressure and other so-called vascular risk factors in people who have mild cognitive impairment may reduce their risk of progressing to Alzheimer's disease, according to a new study.

"Recent animal studies suggest that vascular risk factors play roles in the development of Alzheimer's disease," says researcher Yan-Jiang Wang, MD, PhD, a professor of neurology at Third Military Medical University in Chongqing, China.

"But it still remains unclear whether vascular risk factors cause Alzheimer's disease in humans," he tells WebMD in an email. "Our study provides important evidence in humans which supports the idea that vascular risk factors play a critical role in the development of Alzheimer's disease."

Reducing the Risk of Alzheimer's Disease: Study Details

The researchers enrolled 837 men and women, all aged 55 and older.

All had a condition known as mild cognitive impairment (MCI), which is a mental condition less severe than dementia, with symptoms such as forgetting recent events, difficulty multitasking, and taking longer to perform mental tasks. MCI increases the risk of progressing to Alzheimer's disease.

At the start of the study, 414 had one or more vascular risk factors, such as high blood pressure, high cholesterol, or diabetes.

Wang's team evaluated the participants each year for five years with standard tests of cognitive function and their ability to do daily activities.

After some dropped out, 650 completed the follow-up. During that time, 298 progressed to Alzheimer's, while the others remained with mild cognitive impairment. Participants who had vascular risk factors were twice as likely to develop Alzheimer's over the five-year follow-up as those who did not have any of the vascular risk factors.

However, study participants who received treatment for all their vascular risk factors were 39% less likely to get Alzheimer's disease over the follow-up period than those who got no treatment.

Even treating some of the risk factors helped. It reduced the risk of progression by 26%.

The study is strictly observational, the researchers say. Therefore, it cannot prove cause and effect. However, they write, ''active intervention for vascular risk factors might reduce progression in MCI to Alzheimer's disease dementia."

Although the link is not proven, Wang tells WebMD ''there would be no downside to treating the vascular risk factors."

Vascular Risk Factors and Delaying Alzheimer's: Explaining the Link

Researchers say it's unclear why the risk factors appear to speed the progression from MCI to Alzheimer's disease.

Some of the vascular risk factors may directly affect the metabolism of a protein known as beta-amyloid. The protein has been linked with Alzheimer's disease. When it accumulates in the brain, it is believed to disrupt cells and cellular functioning.

That may indicate that vascular risk factors play a pivotal or causal role in Alzheimer's, the researchers write.

Delaying Alzheimer's Disease: Perspective

The new study findings offer a great message for people, says William Thies, PhD, chief medical and scientific officer for the Alzheimer's Association. "Get your cardiovascular risk factors checked, and get treatment if you need it," he says."The benefits for you may be far more than [preventing] vascular disease."

He reviewed the study for WebMD but was not involved in the research.

He adds, however, that the study is simply observational, not a clinical trial. So it does not prove that treating vascular risks will definitely delay the progression to Alzheimer's.

http://www.webmd.com/alzheimers/news/20110413/treating-high-blood-pressure-may-delay-alzheimers_?src=RSS_PUBLIC

What is the benefit of having taxpayer funded health insurance if you can't find a doctor to treat you?

If you are relying on taxpayer funded health insurance such as Medicare or Medicaid, you should be concerned about where you will find a doctor willing to accept you as a patient.

Affordable Medicare Supplemental Insurance in Georgia

Georgia Insurance Shop has a wide array of plans for Georgia seniors. If you have a Medicare Advantage plan that is going away, or are just looking to make a change during open enrollment, ask for a competitive quote. We have low Medigap rates from all the major carriers including AARP, Blue Cross and others.

Consider this.

During a Congressional recess Obama appointed Donald Berwick, a socialist that adores nationalized health care such as exists in Great Brittain, to head the Center for Medicare Services. The timing of the appointment to a position that had been vacant for over a year is suspicious.

By making the move whille Congress was not in session the appointment avoided the normal scrutiny of a Senate committee.

In essence, Mr. Berwick was appointed to a powerful government position without the normal vetting process.

Now the president wants to place Henry Aaron (no, not THAT Henry Aaron) as head of the Social Security Advisory Board.

Let's look at this in more detail.

Berwick, to whom Obama issued a dubious recess appointment to circumvent the usual Senate confirmation, has become notorious for statements like, “The decision is not whether or not we will ration care — the decision is whether we will ration with our eyes open” — and, in progressive-speak, “The social budget is limited.” 

Aaron, a recent Obama nominee, has expressed similar views. He wrote a piece earlier this year called, “The Independent Payment Advisory Board — Congress's ‘Good Deed.’” The grisly IPAB, one of the most underreported of Obamacare’s myriad of liberty-sapping features, would have the power to cut Medicare spending each year — if Obamacare isn’t repealed first. The dictates of its 15 unelected members would effectively become law. In fact, Congress couldn’t even overturn the IPAB’s decrees with a majority vote in each house and the President’s signature.

Power to CUT MEDICARE SPENDING.

Even Congress cannot overturn their decisions.

How much power does Washington need over our lives?

Aaron praises the IPAB, although he does admit to having a few problems with it. He thinks that its largely unchecked power isn’t unchecked enough, as the board should be able to order payment reductions for other aspects of medical care that have so far escaped its statutory grant of power. He writes,

“I admit that the provisions governing the IPAB are less than optimal. For example, recommendations regarding payments to acute and long-term care hospitals, hospices and inpatient rehabilitation and psychiatric facilities are off-limits until 2020; and those to clinical laboratories are off-limits until 2016. These politically motivated restrictions should be repealed as early as possible so the IPAB’s recommendations can comprehend the delivery system as a whole.”

In other words, Mr. Aaron wants more power sooner rather than later.

“If Americans are serious about curbing medical costs, they’ll have to face up to a much tougher issue than merely cutting waste, says Brookings Institution economist Henry J. Aaron.

“They’ll have to do what the British have done: ration some types of costly medical care — which means turning away patients from proven treatments.

Yes, we all know how well the British health care system works . . .

“Plastics”.

Today, 43 years later, Mr. McGuire might have a different bit of advice for good old Benjamin. As Benjamin is turning 65 and looking over all the Medicare Prescription Drug Plan (PDP) options, I can imagine Mr. McGuire looking at him and saying this.

Mr. McGuire: I want to say one word to you. Just one word.
Benjamin: Yes, sir.
Mr. McGuire: Are you listening?
Benjamin: Yes, I am.
Mr. McGuire: Formulary’s.
Benjamin: Just how do you mean that, sir?

For a Georgia senior trying to pick the right PDP, or even decide if they need any plan at all, the choices are mind boggling.

Some have prescription drug deductibles, some do not.

Some have copay’s, some do not.

Some penalize you if you don’t use certain drug stores or mail order drug fulfillment services.

And then there are those formulary’s.

Is this drug covered or not? What is my copay with carrier ABC vs plan XYZ?

If you pick strictly based on the cost of the plan you will most likely have more out of pocket than if you had opted for a higher premium PDP.

This is like comparing Medicare Advantage Plans to Medigap plans.

MAP’s usually have a lower premium but much higher out of pocket than a good Med supp plan.

One PDP that is being heavily promoted right now at Wal-Mart and Sam’s Clubs is a PDP for only $14.80 per month. The price may be right but
does the coverage match your needs?

Before buying ANY Medicare PDP use the prescription drug finder at Medicare.gov.

You can also call 1-800-MEDICARE.

Another option is visiting your pharmacy with a complete list of all your medications including dosage and how often filled. A pharmacy assistant should be willing to provide you a printout of the best plans for your needs.

If Benjamin were in Wal-Mart right now he might be saying, “You’re trying to seduce me, aren’t you?”.

And then Wal-Mart would reply, “Would you like me to seduce you?”.

Of course we know how that scene unfolded.

When low priced PDP’s try to seduce you, how will you react? 

University of Michigan School of Public Health researchers examined data from 1993 to 2007 and found that whites were 1.5 times more likely to receive antidepressants than blacks or Hispanics with major depression.

The study also found that Medicare and Medicaid patients were 31 percent and 38 percent less likely to be prescribed antidepressants than privately insured patients.

Race didn’t play a role in the type of antidepressants prescribed to patients, but insurance did. Medicare and Medicaid patients were 58 percent and 61 percent less likely to receive newer antidepressants than privately insured patients.

Newer types of antidepressants such as serotonin reuptake inhibitors (SSRIs) are considered the first-line drug treatments for major depression. Older types of antidepressants tend to cause more side effects.

“This study confirmed previous findings that sociological factors, such as race and ethnicity, and patient health insurance status, influence physician prescribing behaviors,” principal investigator Rajesh Balkrishnan, an associate professor in the school of public health, said in a university news release.

The study was published online recently in the International Journal of Psychiatry in Medicine.

The findings show the need for “policy makers to design interventions to improve physician practice guidelines adherence,” Balkrishnan said. “This will help eliminate unnecessary variations among physician practices and … obtain optimal health care for patients.”

Anti-depressants are covered under Medicare Part D.

Georgia Medicare Plans has affordable Medicare supplement plans (Medigap rates) for Georgia seniors.

Read more: http://www.philly.com/philly/health/HealthDay663523_20120409_Minorities__Medicare_Recipients_Less_Likely_to_Get__Antidepressants.html?cmpid=138896554#ixzz1rZiQXoKf

So how do you find information for the other 15 or so GA Medigap rates?

Online Medigap Rates

You call or go online and fill out your data in a lead generation site that turns around and sells your private information to a dozen or more agents. Then your phone rings off the hook for days on end.

Most agents will insist on coming to your house. They will not quote Medigap rates over the phone.

It’s a trap!

Once they are in the door they won’t leave until you buy or threaten to call the cops.

If two show up at your door they are not Mormon missionaries but a rookie agent and his manager. They will double team you and pressure you to buy.

And oh the lies they will tell . . .

Shop Medigap Rates Without the Hassle

Georgia Medicare Plans is different.

We don’t sell your information to anyone. The only one that will call is Bob Vineyard, founder of Georgia Medicare Plans.

When we call you will be given an opportunity to let us know what you are looking for and how much you can afford. We have access to Medigap rates for over a dozen of the most competitive Medigap carriers in Georgia and will always show you the lowest Medigap rates.

Finding the Lowest Medigap Rates

If you are a female, age 67, living in rural Georgia Medicare supplement plan F will have rates ranging from $176 to $127.

Why would you pay $176 for the same plan you can get for $127? It makes no sense to overpay.

You can probably find the $176 Medigap rates if you go to the carriers site but why try that hard?

Even the major carriers will illustrate rates of $161 – $139. Those Medigaprates are from Blue Cross, Gerber, Mutual of Omaha, Humana and Assured.

So where do you find the $127 rate?

This carrier does not allow their Medigap rates to be posted online so the only way to get that rate is to ask one of the few agents in the state that are approved to offer plans from that carrier.

If you are going to shop for GA Medigap rates you can spend a lot of time searching and calling. Or you can go to the leading resource for information and  Georgia Medicare Plans and Medigap rates. We want to help.

Incoming search terms:

• only information about online shopping (1)

Compare Medigap rates in your Georgia zip code. Online rates from BCBSGA, Humana, Mutual of Omaha and more plus LOWER Medigap rates offline by request.

Things you need to know about Medicare supplement plans and Medigap rates.

• All Georgia Medicare supplement plans are standardized. The only difference are the Medigap rates
• Medicare gap plans are assigned a letter to distinguish each plan from A through N.
• Medigap rates vary widely by carrier
• All Medigap carriers are REQUIRED TO PAY THEIR CONTRACTUAL PORTION of your claim once Medicare approves the benefit.
• If Medicare approves your benefit, your gap carrier CANNOT REFUSE TO PAY THEIR PORTION.
• If your doctor accepts Medicare assignment, they will also accept your Medigap plan.
• Your doctor files claims directly with Medicare, not with your Medigap carrier.
• Once Medicare approves your benefit, they send the claim on to your Medigap carrier for the supplemental payment.
• Higher Medigap rates for the same Medigap plan does not mean you have better coverage . . . it simply means you have paid too much.

Why do seniors pay too much for Medigap plans?

Because they do not know there are better values, and more affordable plans available with lower Medigap rates.

Instant Medigap rates are fine but are not always accurate. Even information on plans and Medigap rates through government sites (like Medicare.gov) are rarely accurate and do not include all plans in your area.

The BEST MEDIGAP RATES ARE USUALLY FOUND BY SPEAKING WITH AN EXPERIENCED INDEPENDENT AGENT.

Agents have the SAME Medigap rates and plans that you get direct from the Medicare supplement carriers. There is no “middle man mark up”.

When you call a Medicare supplement carrier direct, or deal with an agent that only offers one company, you are not getting the full picture and may end up paying more than is necessary.

Dealing direct with an insurance company means working with whoever answers the phone that day. You never talk to the same person twice. You never know if you are getting good advice or not.

Roughly 90% of the time I find lower Medigap rates and value for clients vs. what they picked out for themselves.

If you are not asking us for advice you are probably throwing money out the window.

Who can afford to do that?

Buying a “name brand” or picking a Medicare supplement plan endorsed by a senior organization will result in you PAYING higher Medigap rates than is necessary.

Don’t buy anything until you have competitive Medigap rates from us.