Kimberly M. Harris Independent Insurance Agent

Life insurance is one of those topics that many people tend to put off thinking about as long as possible. After all, who wants to think about their own mortality? However, life insurance is not just about YOU planning for the inevitable, it's about ensuring that your loved ones are financially secure and protected when you're no longer around.You might also think you dont need life insurance because you have assets and a spouse or kids. Wouldnt they simply receive your assets after you are gone? Its not exactly that simple.Whether you have kids, a spouse or even if you're young and single, life insurance plays a crucial role in safeguarding your family's future. In this article, we'll explore why life insurance might be a good idea at different life stages and why having it is more than just leaving behind assets for your beneficiaries.Lets get to know why life insurance is a smart choice, no matter what stage of life you find yourself in.Life Insurance for Single Young AdultsMany young adults often overlook the importance of life insurance because they believe they're too young to worry about it. However, this couldn't be further from the truth. Here's a few reasons why:Supporting Your Parents: Many young adults support their aging parents or have co-signed loans for them. Life insurance can help ensure that your parents aren't left with financial difficulties if something were to happen to you. Its true that without children of your own or a spouse, your assets (including life insurance) will be inherited by your living parents. This can be a big help to them if they currently rely on your financial support.Locking in Low Premiums: The younger and healthier you are when you purchase life insurance, the lower your premiums will be. Starting early can save you a significant amount of money over the long term.Life Insurance for CouplesWhen you enter into a committed relationship, whether through marriage or simply living together, life insurance becomes even more critical. Here are a few reasons why:Income Replacement: If you and your partner rely on each other's income to maintain your lifestyle, life insurance can provide a safety net if one of you passes away unexpectedly. It ensures that the surviving partner doesn't struggle financially.Mortgage Protection: If you have a joint mortgage or other shared debts, life insurance can help pay off those obligations, preventing the surviving partner from losing their home or facing financial hardship.Life Insurance for ParentsBecoming a parent is a life-changing experience, and it comes with a whole new set of responsibilities. Here's why life insurance is essential for parents:Protecting Your Children: Life insurance ensures that your children are financially taken care of if you were to pass away. It can cover their daily expenses, education and future life events.Estate Planning: Life insurance can be a vital part of your estate planning, ensuring that your assets are distributed as per your wishes and that your children's inheritance is protected.Stay-at-Home Parents: Don't underestimate the financial value of a stay-at-home parent. Life insurance can replace the contributions of a stay-at-home parent, covering the costs of childcare, housekeeping and more.Life Insurance for Empty NestersAs your children grow up and become financially independent, you might be tempted to let your life insurance policy lapse. However, there are reasons to consider keeping it:Estate Planning: Life insurance can help cover estate taxes on your wealth, ensuring that your heirs receive the maximum value of your estate.Supplementing Retirement: Some life insurance policies can serve as a source of supplemental income in retirement or offer a lump-sum payout to cover medical expenses or other unexpected costs.Final Expense CoverageFinal expense coverage, sometimes referred to as burial or funeral insurance, is a type of life insurance designed to cover end-of-life expenses. Here's why it can be important:Ease the Financial Burden: Funerals and burials can be expensive, often costing thousands of dollars. According to the National Funeral Directors Association (NFDA), the median cost of funerals with a viewing and burial was around $8,300 in 2023.* Final expense insurance ensures that your loved ones aren't burdened with these costs during an already emotional and challenging time.Avoid Family Disputes: Having a plan in place for your final expenses can help prevent disputes among family members about who should pay for these costs or how they should be handled.Peace of Mind: Knowing that your final expenses can be taken care of can help provide ease, allowing you to enjoy your retirement years without worrying about the financial implications of your passing.ConclusionIn conclusion, life insurance can be a fundamental tool for protecting your loved ones at every stage of life. Even if you have assets and a spouse or children who will inherit your estate, having life insurance and final expense insurance can add a crucial extra layer of protection for those you love.So, if you've been questioning whether life insurance is necessary, the answer is a resounding yes. It's not just about leaving behind assets; it's about providing for your family and securing their future, no matter what life stage you're in.Want to know more? Reach out to one of our licensed agents to find out which kind of life insurance is right for your unique needs and plans. *https://nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeralThis is a solicitation of insurance. A licensed agent/producer may contact you. Coverage, products, and features may not be available in all states, may vary by state, and will vary by policy. Rates may be higher due to tobacco use. Your rate and availability for this product will be subject to underwriting. Policies contain specific limitations, exclusions, termination provisions, and requirements for keeping them in force. Please see your policy or contact the insurance company for full details. Approval is based on your answers to the questions on the application and information obtained from other sources. Life insurance is not a bank deposit, is not federally insured, may involve risk, and may lose value. All guarantees are subject to the financial strength and claims-paying ability of the issuing life insurance company. Reducing or skipping premium payments will impact the amount of interest paid and may impact how long the policy lasts. Accessing the cash value of a policy will reduce the available cash surrender value and the death benefit. Any loans from a policy's cash value are subject to interest and the balance is deducted from your death benefit. A policy owner does not have the ability to make unlimited payments into the policy. If too much is paid into the policy, it will become a Modified Endowment Contract (MEC) and withdrawals and loans will be taxable. Policy Exclusions/Limitations: The death benefit will not be paid if the insureds death results from suicide, while sane or insane, within the contestability period. Instead, the benefit will pay the sum of the premiums paid since issue, less any loan and loan interest due and any withdrawals. Exclusions and limitations may vary by state and will vary by policy. Final expense life insurance can be used by the beneficiary designated as needed rather than being limited to specific funeral services and providers. Final expense life policies will have a lower face value than most traditional term or whole life policies as they are intended for a specific purpose of covering those final costs rather than providing comprehensive support for surviving family members. This type of policy generally doesnt require a medical exam, but premiums will be higher the older you are, and some benefit payouts may be limited during the first few years of coverage for those with significant health issues. Life insurance is not a bank deposit, is not federally insured, may involve risk, and may lose value. All guarantees are based on the claims paying ability of the life insurance company.

Its not uncommon for seniors to rely solely on their Social Security benefits after they retire. Unfortunately, according to the AARP, the average monthly benefit for retirees is $1,666.49. No matter where you live, it can be tough to make that amount cover all your expenses!However, by being smart, thrifty and a little bit creative, you can stretch your benefits to pay for all necessities and maybe even have a little extra left to spend on yourself! Here are 10 money-saving tips to help you live comfortably off your Social Security check.1. Delay taking your benefitsWhile you can start collecting Social Security benefits as soon as you turn 62, its not always smart if youre planning to live solely off your monthly benefits. The amount youll receive each month increases the longer you wait, so if you can use other funds until you reach your full retirement age between 65 and 67, depending on the year you were born or as late as age 70, your monthly Social Security payment will be much higher. It could be a smart choice to delay taking benefits as long as possible so that you can maximize your monthly benefits later. But, keep in mind that everyones financial situation varies, so make sure to discuss your options with your financial advisor.2. Find an ideal Medicare planChoosing a Medicare plan thats right for you is key in keeping your healthcare expenses to a minimum during your senior years. If you havent looked at the terms of your coverage lately, it could be a costly mistake. You might be paying more in monthly premiums than you need to, or you might be subject to hefty out-of-pocket expenses if you get ill unexpectedly. Consider the monthly expenses associated with different plans, including Original Medicare, Medigap and Medicare Advantage.Medicare Advantage: These plans may help you reduce your monthly premiums and cover common gaps in coverage with Original Medicare.Medigap: If you stick with Original Medicare, a Medigap plan may help reduce the out-of-pocket expenses associated with routine and unexpected healthcare.There are many different Medicare Advantage and Medigap plans available, so make sure you find a plan in your area that includes all the benefits you need at a price you can afford.3. Downsize your homeOne of the most effective ways for seniors to save money in retirement is by downsizing. Not only can you reduce or eliminate the expense of your mortgage by moving into a smaller home, but you can also reduce your utility bills and homeowners' insurance premiums.Whether they choose to invest the difference or use the extra money to pay rent at an independent living community, many seniors find that downsizing is one of the best decisions theyve ever made. As an added bonus, downsizing reduces the amount of upkeep you need to do to keep your home in good condition. Youll save money on routine maintenance and repairs over time.4. Consider a reverse mortgageThere are other options if you cant bring yourself to downsize. If youve built equity in your home, its smart to think about taking out a reverse mortgage. This is a loan thats borrowed against the value of your home, providing you with either a lump sum, a line of credit or a fixed monthly payment, all while letting you remain in your house.5. Get a roommateIf you have a spare room or two in your house, consider getting a roommate. Alternatively, look for a room in someone elses house. Youll not only save on housing and utility bills, but youll also have valuable companionship and less space that you have to maintain by yourself.6. Take advantage of senior discountsThere are many places that offer senior discounts. While the savings might not be huge, they can really add up over time. Here are just a few of the places where youll commonly receive senior discounts:Restaurants: Whether its a discount on a cup of coffee or an entire meal, many chain restaurants, and even some independent ones, offer great deals for seniors. Applebees, Arbys, Dennys and Sonic are just a few popular spots where you can get up to 15 percent off your bill.Grocery stores: It might surprise you that some of the biggest grocery store chains in the country still offer senior discounts on certain days. Publix, Frys Food Stores and American Discount Chains give seniors up to 10 percent off their entire purchase.Retail stores: Many retail chains offer senior discounts on certain days of the week. Take up to 10 percent off your purchase at places like Ross Stores, Rite Aid, Goodwill and more. Kohls and Walgreens also offer discounts for seniors, up to 15 percent and 20 percent, respectively.7. Take advantage of free entertainmentThere are plenty of ways to enjoy your leisure time without spending a dime. If you like to read, check out a great book at your local library. Its also a great idea to check with your local park district to see what free events they offer. Many park districts have movies in the park, free concert series and courses that allow you to explore a hobby, engage in group fitness and more.8. Get smart about managing your debtWhile no one likes to be in debt, in some cases, carrying debt is better than paying off expenses right away. Examples of this include a home loan dont pay it off all at once so that youll have more money in your pocket from month to month.However, if you are able to eliminate your debt before retirement, this will ensure you have the most money available to use from your Social Security check.9. Stick to a budgetWhen youre living on a fixed income, developing a budget whether its for the month or the whole year helps you make the most of your Social Security income. Its helpful for seniors to follow the CLARK method for budgeting:Calculate your monthly incomeList all expensesAnalyze your spendingRecord everythingKnock out unnecessary debtMaking a budget is one thing, but sticking to it might be difficult. Remember that no matter how well you plan, things happen. Make cuts when you can to account for unexpected expenses that may come up.10. Ensure you have prescription drug coverageOne of the biggest healthcare costs for seniors is the price of prescription drugs. If you get ill, the cost of prescription drugs may take up a serious chunk of your Social Security benefits. Here are three effective ways for seniors to save money on their prescription drugs:Understand your insurance plans benefits and choose the right Medicare Part D plan that includes coverage for the drugs you need.Find financial assistance from pharmaceutical companies. Nearly all companies offer a Patient Assistance Program (PAP).Use alternative sources for savings. Take advantage of tax deductions, drug discount cards and coupons. Also research the prices at mail-order or online pharmacies in some cases, they provide a modest savings over your usual pharmacy. Whenever possible, choose generic instead of name brand drugs.While it can be challenging to cover all your expenses on Social Security alone, it can be done. There are plenty of expenses to keep track of, from medical costs to housing and everything in between. But if youre willing to make some sacrifices, do some research and stick to your plan, you can significantly stretch your budget and enjoy your senior years more comfortably.PlanEnroll is devoted to helping seniors find the right healthcare coverage for their needs. We represent a range of Medicare plans and can help you identify the benefits and coverage that are right for you and your budget. Reach out today so our licensed insurance agents can assist you.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Center for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency.

One of the things many people look forward to in retirement is the opportunity to travel. Visiting new places, seeing new things. However, no one wants to think about needing medical care while traveling. Its important to review your Medicare plans travel rules long before you ever need help. Understanding Medicares travel rules can save your dream vacation from becoming a nightmare.Different plans = different rulesEvery Medicare plan has its own rules. You will want to review your own coverage restrictions before planning a trip, especially if planning an international trip. Rules can change depending on where you travel so read carefully.Traveling within the United StatesWhen traveling within the United States, you will have Medicare coverage throughout the nation. But what counts as the U.S. is a little different than just the 50 states, youre used to thinking about. United States Medicare coverage includes all 50 states plus territories and U.S. waters. That means that your Medicare coverage will count in Puerto Rico, Guam, American Samoa, Virgin Islands and the Northern Mariana Islands as part of the U.S.Traveling with Original MedicareIf you have Original Medicare, Part A and Part B, you can travel anywhere within the U.S. and have Medicare coverage anywhere that accepts Medicare. Outside the U.S., your coverage is limited. There are a few exceptions:Emergency services in Canada: If youre going between Alaska and another state, your travel route is direct and without unreasonable delay, and the closest hospital that can treat you is in Canada, you may have coverage for those services.Medical care on a cruise ship: If the ship is in U.S. territorial waters when you receive care or within 6 hours of your departure or arrival from port, then your Medicare will cover those services. Beyond that, coverage gets murky.Nonemergency inpatient services (under Part A): If the foreign hospital is closer to your home residence than the nearest U.S. hospital, then coverage may occur.Traveling with Part D Prescription Drug PlansPart D Prescription Drug Plan coverage depends on where you are intending to travel. Medicare drug plans don't cover prescription drugs purchased outside the U.S. Within the U.S., your coverage will be limited based on whether you have a carrier network. If you have a network, you will need to find a pharmacy that is in your network. Most insurance carriers have an online tool to help you search for an in-network pharmacy within a ZIP code.Traveling with Medicare AdvantageMedicare Advantage coverage while traveling depends on your plan. Some Medicare Advantage plans may cover medical emergencies outside the U.S. If you have or are considering a Medicare Advantage plan and are planning to travel outside the country, please verify with your carrier that they cover emergency care.Within the U.S., plan networks might be an issue as well; although it is worth noting that, regardless of your plan, all plans are legally required to cover emergency care if it occurs within the U.S.International plans? Get travelers insuranceMany Medicare users can benefit from purchasing travelers insurance when traveling outside the country, especially if youre taking a longer trip. This will guarantee health coverage if/when you need it and give you peace of mind. For those who have scheduled with a travel agency, they will often have suggestions of good travelers insurance plans for the country youre visiting. If not, we would be happy to help you find an option that fits your travel plans.Long-term travel and movingLong-term travelIf you are traveling outside the U.S. for more than 6 months, you will automatically be disenrolled from your current Medicare Advantage plan and given a Special Enrollment Period to choose a new coverage plan.MovingWhether you are moving inside or outside the U.S., you should contact a licensed insurance agent to verify your coverage. Medicare Advantage plans and Part D plans are location-based and you may need to change plans before you move.ConclusionTraveling can be a lot of fun. Your insurance should not be a reason to avoid or delay your travel plans. But just like you make sure your passport is up to date, you should check in on your Medicare coverage long before you need it.If you are traveling and have Medicare questions or are planning on moving, call to set up a free consultation with one of our licensed insurance agents. We are happy to answer your questions to help you get ready for your big trip.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Centers for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS) or any other government agency.

Seniors enrolled in Medicare Parts A and B might not know that there are additional forms of coverage available to fill the gaps left by Original Medicare. These types of plans are called Medicare Supplement Insurance, or Medigap plans.Medigap plans are private insurance plans that help cover the out-of-pocket costs for Original Medicare by serving as a secondary form of insurance. Youll pay a monthly premium for this plan as long as you have it. There are 10 federally regulated Medigap plan types, each of which cover slightly different things.Although Medigap plans may benefit a great number of seniors on Medicare, many people pass over them because they dont think they need one.Here are three of the top reasons you might benefit from enrolling in a Medigap plan.1. You want to minimize your out-of-pocket healthcare costsThe most common reason seniors enroll in a Medigap plan is to minimize their potential out-of-pocket costs for healthcare. Under Original Medicare, you are usually required to pay deductibles, copayments and coinsurance when you seek treatment, on top of your monthly Part B premium. For outpatient services alone, youll pay 20 percent after you meet the deducible. These costs can add up significantly over time, especially because there is no out-of-pocket maximum for Parts A and B!Medigap plans cover some of these costs for you. The exact amount covered will depend on the type of Medigap plan you select, but most plans cover some or all of the coinsurance and copayments owed after Medicare pays its share.Enrolling in a Medigap plan also allows you to budget for healthcare more carefully. With only Original Medicare, your healthcare costs might vary dramatically based on how often you receive healthcare services. These fluctuating costs can be challenging for seniors who live on a fixed income. With a Medigap plan, youll pay a standard monthly premium, but the plan will pay for many of your out-of-pocket costs, allowing you to standardize your payments from month to month.2. You have preexisting health conditionsSeniors with preexisting health conditions know that they will have recurring healthcare needs after they enroll in Medicare. This means that your out-of-pocket healthcare costs will likely be higher than the average healthy seniors.Fortunately, seniors enrolling in Medicare for the first time are given a special, one-time enrollment period for Medigap plans. During this period, private insurance companies are not allowed to ask health questions to determine your eligibility or premiums. This means you are able to purchase a Medigap plan with guaranteed coverage, regardless of any preexisting conditions. If you do this, youll benefit from the cost coverage the plan provides for as long as you hold it.3. You want emergency health insurance overseasOne unique benefit of some Medigap plans is foreign travel emergency healthcare coverage. Original Medicare by itself may not cover healthcare services overseas. Should you get sick or injured on your trip, your Medigap plan will cover some of those costs for you.If you plan to travel internationally during retirement (as many seniors do), you may benefit from this type of Medigap plan.Are you interested in learning more about Medigap plans and the coverage they provide? PlanEnroll is ready to help! We represent a range of Medicare plans that can help you access the specific benefits and coverage you need.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Center for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency.

Diabetes can be a frightening and expensive diagnosis. With testing materials, insulin, needles and additional doctor visits with specialists, it can seem daunting. Thats why were going to look at what Original Medicare coverage for diabetes looks like and what you can expect from different parts of Medicare.Medicare Part A Diabetes CoveragePart A coverage is for hospital stays, which can occur for diabetics if their blood sugar is unregulated. If you are diagnosed with diabetes after 65, you will probably need to be hospitalized for a day or two when first diagnosed to get your levels back to normal, receive diabetes education and counseling, and determine a course of action based on your health care needs.Medicare Part B Diabetes CoverageMedicare Part B offers coverage for doctor visits and medical screenings, which includes diabetes management. It will also cover diabetic supplies to help you manage your blood sugar, such as blood sugar testing strips.Doctor visitsPart B covers a one-time Welcome to Medicare doctor visit to review your health when you first join Medicare. If you already have diabetes when you join Medicare, this visit will include an overview of what materials you use to manage your blood sugar and what type of insulin you use. If you are diagnosed after 65, you will likely need to schedule a doctors appointment with your primary care physician to establish a care plan after your diagnosis.Once youve had Part B for longer than 12 months, you have coverage for a yearly wellness visit. This visit is to review your medical and family history, update your list of providers and prescription drugs, and review a treatment and screening plan for the upcoming year.If you have diabetes-related nerve damage (which is called diabetic neuropathy) in either foot, Part B will cover one foot exam every six months with a podiatrist. Diabetes nerve damage on your feet is a safety risk for diabetics, as they may not be able to feel dangers from heat or sharp objects. As part of this coverage, Medicare may cover therapeutic shoes and insoles in certain conditions.Regardless of your diabetic diagnosis, Part B will pay for flu shots, pneumococcal shot to prevent pneumonia and COVID-19 vaccinations, including boosters. Diabetes increases your chances for serious health complications from these and other illnesses.Blood tests & screeningsIf youre at risk for diabetes or diagnosed with pre-diabetes, Part B may pay for up to two screenings, such as fasting blood sugar, in a 12-month period to monitor blood sugar levels. This is used to determine if your blood sugar levels are normal or if you are becoming increasingly insulin resistant.Other screenings include hemoglobin A1C tests and glaucoma tests. Hemoglobin A1C tests measure how well your blood sugar has been controlled over the last three months. Part B will cover an eye check for glaucoma once every 12 months, as diabetes increases the risk of glaucoma.Diabetic servicesPart B covers the Diabetes Prevention Program. Sessions of the program include training on diet and exercise improvements, weight management strategies, and health coaching. To be eligible for the program, you must meet certain criteria, such as body mass index and blood test results.Medicare will cover an outpatient program to teach you how to manage your diabetes upon diagnosis. They will instruct on diet, exercise, monitoring your blood sugar, medication administration and reducing the risk of complications. Part B will also cover nutrition therapy services with a registered dietitian or nutritionist if your blood sugar levels meet eligibility.Supplies & equipmentBlood sugar self-testing equipment and supplies are covered by Part B. This includes blood sugar monitors, blood sugar test strips, lancet devices and lancets, and glucose control solutions for checking the accuracy of testing equipment and test strips. Part B covers these supplies for people with diabetes whether or not they use insulin, although coverage amounts may vary. Medicare Part B may also cover external insulin pump devices, including the insulin used with the pump, if eligible.Medicare Part D Diabetes CoverageMedicare Part D is coverage for prescription drugs. Diabetics rely on medications and Part D covers many of those.Insulin: Injectable insulin, insulin used in pumps and inhaled insulin may all be covered.Anti-diabetic drugs: Your plan may cover drugs to help blood sugar levels.Diabetes supplies: The supplies you use in conjunction with insulin may be covered. These may include syringes, needles, alcohol swabs, gauze and inhaled insulin devices.It is important to note that, starting in 2023, many insulin types will have a monthly $35 copay cap. Check your drug plans formulary for more information on what your specific costs may be.ConclusionOriginal Medicare offers a variety of services for those with diabetes. Additionally, drug coverage is essential for those who rely on insulin. The most important thing those with diabetes can do is manage their condition to prevent complications. If you have questions about diabetic Medicare coverage, including additional coverage options, please reach out to one of our licensed insurance agents and we will be happy to assist you.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Center for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency.

In recent years, some Medicare plans have begun offering benefits such as grocery assistance or flexible spending cards. However, the hype surrounding these cards often oversells what the product offers and makes them sound more readily available than they actually are. Were going to explore grocery and flex cards in more detail to help you recognize scams and better understand this additional benefit.What are Medicare grocery allowance and flex cards?Grocery and flex card offerings are additional benefits provided in some Medicare Advantage plans. These benefits are typically reserved for select Dual Eligible Special Needs Plans (D-SNPs) or Chronic Condition Special Needs Plans (C-SNP), which serve those with income limitations and those with long-term health concerns. Most Medicare Advantage plans do not offer cards for grocery or flexible spending cards as a standard benefit and other types of Medicare do not offer this benefit at all. These are special benefits for those who qualify, and only offered in certain areas.Medicare grocery allowance cardsGrocery cards are called Medicare Food Allowance cards and are part of the Medicare Grocery Benefit. This benefit is designed to help low-income seniors afford fresh produce and to promote healthy eating habits. In most cases, the purchases made using this benefit must be healthy food options, such as fruits and vegetables. Exact rules and specifications will vary by plan.Medicare flex cardsMedicare flex cards are special debit cards that may be available in select plans. The purpose of a Medicare flex card is to help those with lower incomes cover certain qualifying medical costs that might not be covered in their D-SNP plan, such as dental treatments and services. The exact rules and regulations for what Medicare flex cards can be used for will depend on the provider and plan. The average payout is around $500, which is significantly less than the $2,000+ seen on some Medicare advertisements. Flex cards are not free money; they are a health benefit with specific limitations.How do Medicare grocery allowance cards work?A Medicare Food Allowance card can come in one of two ways: a prepaid Visa card or a coupon card. This benefit is reloaded monthly or quarterly, depending on your plan. Most seniors who qualify for this benefit get somewhere between $25$275 per payment period. And most plans do not have roll over, so you will need to use it before you lose it.Prepaid debit cards will scan like normal debit cards when checking out at the grocery store, while the coupon card will need to be scanned by the cashier prior to payment. Just make sure that you activate your card trying to make a purchase.Note: Not all cards are accepted at all grocery stores. Some plans may have limitations on where you can use this benefit. Read your plan information for more details.How do Medicare flex cards work?Flex cards are prepaid debit cards with a set amount per year. Exact amounts vary by plan and provider. You can use these funds for qualifying medical expenses. Those may include:Insurance copaymentsPrescription and OTC medicationsDental, vision and hearing careSome medically necessary expensesSome plans may require that flex card funds be used on dental, vision and hearing while others may be less restrictive. You will need to review your own plan information to find out what stipulations your plan may require.Important reminder about Medicare grocery allowance and flex card benefitsGrocery and flex card benefits are not free money. They are not large sums of money to be used at your discretion. They are set amounts to help those with income limitations afford healthy foods and additional medical expenses. Of the two, grocery benefits are more common, but neither benefit will be available with all Medicare Advantage plans and they may not be offered in your area.Medicare grocery allowance and flex card scamsBecause this benefit is a desirable perk, it is used in Medicare scams. It is important to realize that grocery and flex card benefits that seem too good to be true, or promise free money are scams. Scams might say that this is a benefit that comes with all plans or is available nationwide, or overinflate the dollar amount of the benefit.No matter what type of Medicare plan youre considering, it is important to do your research. Research what that plan looks like and what coverage it provides, look up the agent youre working with to see if they have any history of fraud, and make sure you check out the insurance carrier to ensure you are not a victim of fraudulent Medicare sales.When in doubt, remember these three tips for staying safe from scams:Guard your personal information and only share with trusted sources.If something seems too good to be true, it probably is.Work with a licensed insurance agent.ConclusionGrocery and flex card benefits are additional benefits that exist in select Medicare Advantage plans. They can help those who qualify with food and medical costs, but they are not readily available for all Medicare users. Its important to be wary of scams and offers that seem too good to be true. Do your research to ensure you are getting a legitimate plan that meets your needs without breaking your budget.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Center for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency.

As we get older, it can get increasingly difficult to take care of large homes and the amount of stuff weve  collected over the years. The kids have moved out and are building lives of their own, and suddenly, the extra space isnt as necessary as it once was. If youre nearing retirement, now is a great time to consider downsizing. It can be hard to let go of a home where youve made years of memories, but downsizing is a practical way to keep your home maintenance manageable and put away money for health and other life expenses.For some seniors, downsizing isnt just a difficult decision but an actual economic necessity. As more Baby Boomers and Gen Xers near retirement age, downsizing might be the only way they can afford to stay retired.If youve considered selling your home for something smaller, there are a few factors you may want to consider. First, think about your personal reasons for downsizing economic or otherwise. Second, consider what kind of home youd like to move into. Finally, youll need to figure out whether selling your home would financially support the first two factors.Its not a fun situation unless youre planning to move somewhere exciting or close to your adult children but downsizing can be a prudent financial decision that can set you up to live out your retirement years in comfort.Heres an overview of why and how to downsize.Why you should consider downsizing nowThere are several reasons to consider downsizing in retirement, including:Manage your finances: For many people, finances are the number one reason to consider moving somewhere smaller. If you still have a mortgage, your home may not be affordable on your retirement budget, or you might need to free up money to pay for your Medicare and healthcare costs. If you manage the sale wisely and move somewhere that fits within your budget, you may be able to set yourself up for comfort in retirement.Give yourself the gift of less upkeep: Even if youre in perfect health now, aging takes its toll on everyone. Larger homes require significantly more maintenance and upkeep than smaller ones, especially townhomes, condominiums and apartments, where maintenance is typically taken care of by a management company. Upkeep also factors into your budget you can often save money on maintenance when you move into a smaller place.Easier relocating: Have you always wanted to live farther away from the city? Does a dry climate agree more with your lungs? Want to move closer to your children and grandchildren? Downsizing is the perfect opportunity to find your dream home in another area.Find a home with aging-in-place amenities: Many homes that were ideal for raising children dont fit your needs as you age. Downsizing allows you to find a home with built-in, aging-in-place amenities, so you can continue living independently for as long as you desire. Alternatively, if you suffer from serious health issues, you may wish to move to an assisted living facility to have on-site assistance.Eliminate clutter: We collect a lot of clutter over the years. Without a pressing need to get rid of the excess, its all too easy to let it pile up. Downsizing or moving of any kind is a good opportunity to sort out what you want to keep versus what you can let go, since your new home will have less room to store unnecessary items.How to downsize your homeIf youre interested in downsizing but arent sure where to start, here are a few tips:Make an appointment with a financial advisor: After youve decided why you want to downsize, youll need to figure out how to do it. Meeting with your financial advisor is crucial to determining the full picture. A good advisor can help you evaluate your income and assets, point out potential tax liabilities and identify other issues that might affect the downsizing process. In some cases, they may have suggestions regarding whether it makes more sense to sell your home or rent it out.Research smaller homes: The next item to tackle is research. Before you can go any further, youll need to figure out what it costs to live in the type of home you want, in the location you want. For example, a full-sized house in your dream city might cost more than your income can bear, but a condo in the same area could be affordable. Remember as you research to keep in mind the upkeep costs, HOA dues and other fees that may not be included in the list price.Research your mortgage options: If you sell your home and some assets, you may be able to get a good rate on a short-term mortgage for your new home. Shop around to find the best loan you can find. 10- to 15-year mortgages are a good choice for retirees because they allow you to gain equity in the home quickly with lower interest rates. If the 10-year options monthly payments are too high, 15-year mortgages are often more manageable.Find out your homes value: You probably have an idea of what your home might sell for, but the more realistic your estimate, the better. You can have your home appraised or research similar homes on websites like Zillow. In some cases, it wont make financial sense to sell your home. For example, if youll pay as much to rent a smaller home as you spend on the mortgage in your current home, it might be better to move and rent your home out for extra income.Make a realistic budget: Once you have an idea of what your home might sell for and where youd like to live, you can make a budget. A financial advisor may be able to give you an overall picture of what your retirement income will look like over the next few decades. Create a realistic monthly budget, leaving yourself as much wiggle room as possible. Dont forget that expenses in a different area might look much higher or lower than youre paying now, so do as much research as you can before committing.Dont forget the taxes and fees: One mistake people can make when downsizing is forgetting the taxes and fees that come with buying and selling a home. Agent commissions, property taxes, closing costs, capital gains and other fees can make a once-desirable home suddenly unaffordable.Once you have these details ironed out, it will be easier for you to find a smaller home that meets all of your needs.ConclusionFrom losing social networks to finding good healthcare providers in your new location, downsizing can be an emotional process. However, if its the right decision for your family, health and budget, it can set you up to live comfortably throughout your retirement.PlanEnroll is devoted to helping seniors find the right healthcare coverage for their needs. We represent a range of Medicare plans and can help you identify the benefits and coverage that are right for you.PlanEnroll is a brand operated by Integrity Marketing Group, LLC and used by its affiliated licensed insurance agencies that are certified to sell Medicare products. PlanEnroll is not endorsed by the Center for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (DHHS), or any other government agency. We do not offer every plan available in your area. Please contact Medicare.gov, 1800MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.