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Turning 65 in 2022

Finishing Well / Hans Scheil
The Cross Radio
November 27, 2021 8:30 am

Turning 65 in 2022

Finishing Well / Hans Scheil

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November 27, 2021 8:30 am

Hans and Robby discuss Medicare and what that means for those turning 65 in 2022.

Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

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This is Joanne McNair with the podcast storytime Mema and answered prayer for stories that point children to God's chosen Truth Network podcast is starting in just a few seconds enjoying it, share it, but most of all thank you for listening to The Truth Podcast Network. This is the Truth Network welcome to finishing well brought to you by Cardinal God, certified financial planner long shot while sowing alternate financial plan of helping families finish well for over 40 years of finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started with finishing well, finishing well is a general discussion and education issues facing retirees.com with drivers. I'm sure I'll see if Pete insurance this show does not offer investment products or investment advice welcome to finishing well, a certified financial planner Hom Schild today show how about this turning 65 in 2022. So happy birthday to those that are happening you been listening to Hans for a while I think I found Hans's life when I think of Hans I can't help but think of these words in Ecclesiastes 1211. So here you go and you know this is pretty close to December 12 11 America the words of the wise arrest codes and is nails fasted by the master of assemblies which are given from one shepherd. There's a mouthful). If you don't know what codes are which I didn't tell years ago. No famous road to Damascus experience for the apostle Paul beckons all was Jesus said why you kick against the goats like well goats are there to get the animals going in the right direction. Maybe you know when they get mad that all taxes would kick back on the cards to try to blow them up in a return of break them up and so there was a sharp object it would hit their foot so they wouldn't do that well. If you know Hans very well the guy calling the goat, you know, because he gets us to do stuff. This kind of uncomfortable like fill out forms that we don't necessarily want to fill out and and get beneficiaries right always kind of things but essentially one of the cool things is is here when were turning 65, you need a goat. I'm just telling you I really think really thankful to God brought the goat in my life so that you can kinda kick me to go LOL you others penalties involved as things probably need to pay attention and and and so you know, one of the things we want to celebrate right as it's Thanksgiving weekend Hans as God has been really really good at your celebrating your goading this think about this for I started 18 years old in Minneapolis Minnesota going to college selling Medicare supplements to people turning 65. And so we worked turning 65 list and since this was July 1976 we were working the October 1911 birthday is woodworking 90 days in advance when you think about the people born in 1911. Most of them are deceased now they were turning 65 this 18-year-old kid born in 1958 was calm and that's a good while and as the years progressed, stayed in the Medicare supplement business but my businesses become much larger financial planning. Just all the things we do and we talked about on the show but rooted in the whole thing in my business to this day is Medicare supplements and work: on the same list in a much different way so we don't even have to call in so about four or five years ago I discovered that I could get Facebook if I paid money to pick out the people born like right now were work in the 1957's so if it was people born in 1957.

Turning 65 2022 and so Facebook knows how old when allowed.

As you told that's one of the things you need to do and make profile and then Facebook charges the same amount.

If you run 1/32 ad or if you run a 20 minute at night and started 20 minutes but I discovered going against the consultants Giselle told me to make your video two minutes and I just like I can't say the same to just condense it down. I got to about 10 and this thing has been wildly successful in Facebook. From the very beginning that it costs money, and it's only going to go to who I tell it to go to right and that birthday, and then I learned playing video for people and where I can really just down explain myself like I do on the radio show and so what happened a year ago or two years ago, year, year and 1/2 two years ago.

As we started using YouTube purely as the host site for our videos that we used is ads explanations whatever you want to call him, but we never thought about sending them out on YouTube because I didn't think YouTube no hold your work so I thought this can be little point in paying YouTube money to send my video out to people of all ages when it's about turning 65.

So I just had hosted there, and the only explanation I can come up with this is is God just God's favor so are turning 65 video posted posted on YouTube, but not promoted just is just sitting there promoted on Facebook has are just going to rob you here 208,000 views and 11 months. That's a lot of years when you've done nothing to me.

So I got people call me all of the United States to people in Guam: I got people on missions, yen, the Far East and their coming back home to retire from mission work of their whole life and there.

I guess the only source of information that you have about Medicare's Internet and then there finding me and their end and upcoming clients so NHS shows that from my perspective is that when people are turning 65 right they know what I do now that I'm 65, because their penalty. There's all sorts of things that gotta be done as far as Medicare and how to write know that everything part a part B, part C and all those things become hypercritical.

But it's interesting you spent your whole life learning. I mean, obviously since 1976 and now you know God through Cardinal advisors concerns YouTube channel is cargo advisors know God is blessed that with opportunities for people all over now you have them.

Yeah, people are seeing there watching it in their calling in just a small percentage call in thank you because if a whole bunch percent.

I would know what to do. My phone lines were working a lot of calls so but just to say what a blessing as I spent most of my career, and especially the early primary just trying to get people to talk to just calling people and getting rejected and then finding some of this essay.

I'll talk to you about that and then driving out to their house and sit there and then spend the next hour trying to convince them to buy from and that's going away my okra work.

That's something that works anymore.

Now I have people calling me trying to get a hold of me. You know they're there very humble and shall talk somebody else up after I'd like to talk to him can I talk to him and then you know we set up a time and then when I'm talking and they're telling me with your questions are in their already tell me they're ready to do business with me and what a blessing this year and 63 years old 45 years into the business and I just that's one point I want to get across this morning is this YouTube and just having my messages up there. YouTube is actually paying me. Now I get a check. I just got one day before yesterday for 550 bucks for the month of October so that they're paying me to play my message. I have always thought about your messages in all you had to some extent it's it's you know how to do this that the other but they really just completely informational.

It doesn't say by now by now that there's I remember in any video you saying you know this is what you need to buyer this week that it is not about that.

It's about. Here's what the process is when you turn 65 and here's the things that you need to consider. And here's what this means. And here's what that means. And so in then at the end of the essay on Armand child. Thanks for listening and also you know it's your message, but your message is education and I and has been through the radio show on my experience and then my goal even when I started the Facebook thing five years ago because I'm just thinking what I want to deliver a quality product and anything just for me. Just another words that's one of things that I've never liked about sales. The sales pitches are necessarily a quality product or just highlighting the things that you want to highlight in with the objective of talking the person into buying something and where what what I'd like to do is establish a relationship with my client that I want to point out worse at work were the mines. Here were worth the trouble spots where where were your questions calmly, but what questions are you going to have. Once you get into this for a while. I'm a bring those things war where your regrets can be two or three years down the road when you all of a sudden discover something in your saying what I wish I do know that when I was turn 65. I want to make my whole interaction with people about all those things so they can make a good decision and I'm perfectly willing and do give that to people who are never going to hear from you maybe don't even like me that they they catalogued and the thing that I get something out of it.

That's the information and we know there therein is a neat opportunity. I think anybody that's ever been in sales understands that it is about really I wanted to help. You want to give you information and allow a lot of folks don't buy from you, but it's okay if you still provide a service, then you help people, which is ultimately the real rewards can be God's going to help the dumbing.

He's gonna reward those people actually tried to help somebody else in the mess that's the holding well and it's the same thing with the podcast of this radio show is great weekly calls from all over the country people that are anywhere near one of the radio stations were on, but they pick it up on the podcast they wanted to start listening to it. They call us up so it isn't necessarily just about me it's about there is valuable information here that apparently God wants people to see 208,000 views is a lot of me when I go to the YouTube people there like you got all this and you've done nothing for this will I get my hands on her neck and let you get your hands work I have to talk to me But what you cannot do this thing okay all we gotta get a break when we come back gradually to find out what day is the violent within this latest video and have more content in the second right back.

Hans and I would love to take our show on the road to your church, Sunday school, Christian or civic room. Here's a chance for you to advance the kingdom through financial resources and leveraging Hahn's expertise and qualified charitable contributions veterans aid and attendance, IRA, Social Security, Medicare, and long-term care. Just go to cargo guy.com and contact Tom to schedule a live recording of finishing well, your church, Sunday school or civic contact on the Cardinal guy.that's Cardinal guide.com welcome back to finishing well certified financial planner Hans Schild today show is turning 65 in 2022. What that may mean from the standpoint of Medicare as Wright did work the weekend of Thanksgiving you got two weeks left right before the what you call it the Roman the annual enrollment. ADP and that ends on December 7 so that is about people turning 65.

That's about people that are on Medicare and this is the period of time start on October 15 that you can make some decisions for some of you radio listeners that are listening to this and podcast listeners that are listening to the show right is it heirs or soon thereafter. You got a couple weeks left where we can help you through this Medicare part a part B, part C, part D enrolling distant rolling all of that, stuff you got a couple weeks left of her talk and Medicare and what were talking about today though is were just releasing 2022 video which has about nine views on YouTube because it's not open yet, but it'll be open by the time the scares and were were hoping and praying that the new and improved video will be just as successful may be more successful than the 208,000 video and so I really want to just pass along the information and just talk about what's on that video so you got you got three sets of decisions that you need to make when you're coming up to Medicare for the first time, which for most people is turn 60 5K and the three sets of decisions. The first set is do I sign up for Medicare or not.

Okay, now for those of you that don't have any health insurance or you have health insurance for Japan arm and leg for or your retired that's not really something you need to stress over for a large percentage of the people is just obvious turn 65. You're coming up and the answer is yes. You need to sign up for Medicare so but then for a large portion of euro portion of you that significant. You have your continuing to work or your spouse is continuing to work and you have group insurance and we are happy with and you're wondering why do I need Medicare. I don't have to pay for Medicare. Why do I want Medicare when I got perfectly fine group insurance that is continuing on, for we don't know how long. So do I need to sign up. That's the number one question we get out of all this media stuff when people right into us and there they're saying and I'm still working and it just you look through the comments on that video before hundred and 30 comments on the benches at 150 of them address this very thing.

I'm still working. Do I need to sign up for Medicare guide. So what I've done on this most recent video is I've addressed that more at length and so the answer for you people that have this approaching. If your spouse is still working you're still working.

Maybe you're not 65 yet but you're coming up on it and you plan to work past 65 which is similar to your situation. Robbie was the right year and 1/2.

The answer is not susceptible. That's why people are writing and asking so Medicare has four parts to it. It's got part a part B, part C and part D and for the first part of this were discussed talk about party and part B. Part a is hospital part B is Dr. in outpatient arrest. Medicare if you're still working to sign up for part a and then do you sign up for part B and the answer might be different for those two parts.

Part day doesn't cost anything by the mark you right now don't pay anything for parting South part a is pretty much you want to sign up for that with the group insurance or not. With one exception.

If you're part of a health savings account.

You don't want to sign up for part day because having any part of Medicare and still contributing to health savings account is a problem. So let's just say you sign up for Medicare part a no matter what, except for the one what it's if you're part of an HSA health savings account that don't even sign up for parting otherwise.

Sign up for the real question here is part B be like boy part B of Medicare, which is your doctor in outpatient case very much 80% of your expenses and it has a premium in 20 $2270 a month so you have to pay $170 a month for part B of Medicare, of which you don't want to hundred 70 bucks a month for something you don't need because you have group insurance right if the group insurance is free, but in my case I was paying near $400 a month for that group insurance and oversight had a big deductible right huge that and you didn't have the 20 employees on it to make it credible so you years was a no-brainer.

You're gonna leave the group insurance and get on part a get on part B and then when you get into the second set of decisions which will rest in the first set for the second so I really want to address with people. One of the situations where you don't sign up for B and you delay signing up for day and then what about those penalties because most people. By the time they get to me and they watched the video and they've done a little research they know that there's part B penalties for late sign.

So if you mess this up and you don't sign up for B and then you later wanted Richard not wanted at some point and you didn't get all the stuff right there to face penalties under part B, which you don't want and then the second thing is going to face delays in getting sign up. I got a guy emailing me right now that mess this up, sign up for a 2019 delayed B's coverage wasn't credible, so you didn't work for an employer big enough that it counts as a penalty free delay. Now he's retired and he wants to get Medicare part cannot actually just cleared up of a question I had. So what did you mean when you said you don't have 20 employees not credible is like Lombardy credible. That's average and I met severe if your group depth that you're in doesn't have 20 employees then that then Medicare does not consider that credible way to to delay your well yeah so so this guide is just living so so he's been without creditable coverage for two years going on the third year and now you want to part B because he doesn't have that not creditable group. Ryan just discovered it's not credible.

He has to wait until January to apply for Medicare and that part B and then the part B is not going to start to July 1. So he's gonna go six months without Medicare part B and you can't buy a supplement or get a Medicare advantage plan unless you have part a and B, so he's got like half an insurance policy for the first six months and it's kind like knock on wood.

Not much I can do for now. So the moral of the story here in my video. You can go and watch it is the pretty much most people are to sign up for a and B at 65. The people who are going to delay most of them have creditable group insurance from like to work in a hospital and they met in the hospital early work at a big company and or their spouse does and that's a reason to delay but I wouldn't even do the delay without getting a consultation somebody that really knows this guy said the proverbial thing he said but I wish I met you two years ago.

Okay I wish you did too, but she did and so now organic figure and I got a few contracts of much later. Whatever Simon to make him go apply for Medicare display down because now he's so researched and this is just so convinced he doesn't qualify that he's just not come to class and I will and that we want to go in just make you dumb.

I don't want to put anything incorrect on the application. I just am having do an application and just go through this employable victim and see if you can just kinda get signed up as entitlement is before which makes me laugh that I think it's great.

There's no Medicare police.

There are courses, so don't care yourself. That is, bureaucrats and all that stuff. We get that.

But there is no Medicare policing agreement, after you, so that that's a big point on.

There is then once we get you signed up for a and B now go to the second set of decisions and the second set of decisions are that binary choice.

You know you got your fork in the road and you got left to go to the right but you can't go down both roads and you can go down a mixture of it and do you want to stay unoriginal. Medicare and the and do you want out purchases supplement and years you're going down one white one road which is a supplement and then you're gonna need to get a separate part D drug plan and the reason you would want to do that is you got any doctor of your choice and you're going to face very little out-of-pocket between the supplement Medicare just try to summarize, that's one option that's gonna cost you more because by the month to pay for the Medicare supplement got paid for part D plan. If you like robbing in your very next prom put hooks for your hand and cut off her fingers with it's good that you that the one that I know a lot about you got right to the emergency room, not even think about that one route. The other route the other fork in the road is you may take your Medicare part a and part B and you're granted turn it into a part C or you're going to get your Medicare from a company like Humana or an AARP United healthcare or Aetna you can get a Medicare advantage plan and so why you'd want to do that as many of these come in zero point and besides the zero premium you get added benefits you get dental insurance and you get a gym membership and you get a drug plan thrown on their at no extra cost and you don't have to pay the hundred and 70 bucks a month or hundred and 30 a month or whatever you're paying for your Medicare supplement that would be one reason the reason you wouldn't want to go the Medicare advantage round you got a dealer network is just pure and simple. You now need to go to their doctors and so does make him bad then make you push away from these we write a lot of, but we need to be real clear on this and we need to pick the one where your doctors are on their cell. That's the kind of consulting we provide, and all of this goes on before we start talking about what insurance policy and where I think that the process typically is flawed. Even my process in the past is restarted with the insurance policy and the insurance company and we work through this explanation backwards so very cool of the video is called turn 65 in 2022 and that's under cardinal advisors.

Of course no harm. This book, the complete cardinal guide to planning for living retirement. Is there a cardinal guide.com which is what the sponsors of the show. Cardinal guide.com and there you can email Hans call Hans. Whatever you do if you turn 65. Obviously you know it's something that just pretty simple was calling get this thing don't mix it from my perspective it and I can assure you sure worked out good for me and were certainly thankful for your listing today and you know I from a Thanksgiving standpoint, we were very thankful for each and every listener, and God bless thank you finishing well is a general discussion and education of the issues facing retirees cardinal guide.com cardinal advisors and Hans Schild, CFP some insurance this show does not offer investment products or investment and we hope you enjoyed finishing well brought you by kind of guy.com visit cardinal guide.com for free downloads of the show previous shows on topics such as Social Security, Medicare and IRAs, long-term care, life insurance, investments and taxes as well as constant best-selling book, the complete cardinal guide to planning for and living in retirement and the workbook once again for dozens of free resources past shows get Hans book go to cardinal guide.com if you have a question, comment, suggestion for future shows. Click on the finishing well radio show on the website and send us a word. Once again, that's cardinal guide.com cardinal guide.com this is the Truth Network