Medicare Advantage vs. Medicare Supplement, Dental Insurance, Hidden Gaps in Medigap Plans, State vs. Federal Medicare Rules with Bryan Derheim
Unpacking Gender Bias in Healthcare, and How Women Can Overcome It with Author Susan Salenger
Links between Alzheimer’s, Dementia and Diet with PhD Candidate and Health Coach Diandra from That Science Couple
Social Security Benefits Strategy Explained, Best Age to File Social Security, Social Security Office Tips, Social Security Filing for Couples with Jim Blair
Charlotte Bayala on Caregiving for a Spouse Using Yoga and Meditation to Maintain Good Mental and Physical Health

#016

Medicare Advantage vs. Medicare Supplement, Dental Insurance, Hidden Gaps in Medigap Plans, State vs. Federal Medicare Rules with Bryan Derheim

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“One thing the Medicare does a good job of is making it complicated, and frankly, that's why I think that the need for a trusted source has never been higher. If you put yourself in the shoes of someone who's turned 65, they don't know where to turn. Why? Your phone's ringing off the hook. People are calling you like crazy. Your mailbox is getting flooded with stuff. Agents and agencies are reaching out to you.

I say the most important thing first and foremost, is just go to a source that you trust. Whether that source is someone on YouTube, whether that source is your trusted insurance agent that you already work with, whether that source is your financial advisor who you trust with your wealth, and they also can help you with your health, whether that source is The Matt Feret Show, whatever that source is. I think that's the biggest thing.”

- Bryan Derheim, Vice President – Medicare Senior Product Sales & National Accounts

Bryan Derheim is a Medicare insurance insider who has spent more than fifteen years in and around the Medicare Advantage, Medicare Part D and Medicare Supplements, also called Medigap insurance space.

This episode will give you an insider’s view into the differences between Medicare Advantage and Medigap plans, why what state you live in can determine the amount of coverage a Medicare Supplement plan can give you, unknown, little-thought-of gaps in Medigap coverage and how dental insurance, vision, hearing and other types of insurance and other plans play into your Medicare health insurance equation.

Medicare Advantage vs. Medicare Supplement, Dental Insurance, Hidden Gaps in Medigap Plans, State vs. Federal Medicare Rules with Bryan Derheim

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“It's kind of a recognition of the moment that this is really difficult to do on your own. It really comes down to finding a trusted source. And so, I think, in our current environment, having a trusted local Medicare agent that knows your state laws through and through, knows your instances, has served many folks in your community before, that have been in the same situation that you have been, because every situation is different.”

- Bryan Derheim, Vice President – Senior Product Sales & National Accounts

“Another thing that can really affect (Medicare Supplement) pricing is what state you live in. Every state is managed by a DOI, Department of Insurance, and they dictate and set the rules of how Medigap plans are going to work in their specific state. And for states that are more open for consumers, and have options to say, switch their plans every single year, versus states that are more restrictive, and those same options don't exist, that can lead to different pricing. And if a state does, I'll call it, more restrictive for the consumer, what that does mean, generally, is that price is actually a little bit lower. And if the state gives a consumer more rights around (Medicare Supplement) Guaranteed Issue and have other things that are tilted more in the benefit of the consumer, that also is generally reflected in the premium, and those states will have a little bit higher premiums.”

- Bryan Derheim, Vice President – Senior Product Sales & National Accounts

00:00:00 Intro

00:02:12 The Three Types of Medicare Plans

00:02:58 Hospital Indemnity insurance and Medicare Advantage plans

00:03:27 Dental, Vision and Hearing insurance plan and Medicare

00:03:56 Medicare Supplements – Medigap

00:04:42 Medicare Advantage vs. Medicare Supplement or Medigap

00:06:15 Plan G – Medicare Supplement or Medigap

00:06:35 High Deductible Medicare Plan G

00:08:37 How to decide which Medicare Supplement plan to buy

00:10:05 Find a good Medicare advisor

00:10:52 Medicare Advantage MOOPs (Maximum-Out-Of-Pocket)

00:11:44 Can Medicare Supplement benefits run out?

00:13:44 Medigap Lifetime limit on hospital days Medicare Supplements

00:14:03 Medicare Supplements and Skilled Nursing limits

00:15:07 Introductory Pricing for Medicare Supplements

00:15:56 Medigap discounts and annual rate increases

00:16:23 Medicare Advantage vs. Medigap premium

00:17:14 State Medicare Supplement price differences

00:19:05 New Birthday Rule Medigap States

00:19:40 Guarantee Issue Medicare Supplement states and expansion

00:21:29 Medigare.gov and online shopping for Medicare Supplement plans

00:23:27 Medigap, Medicare Advantage DIY frustrations

00:24:56 Online research and Medicare insurance agents

00:27:40 How to evaluate dental, vision, hearing insurance and Medicare coverage

00:29:58 Dental insurance policy pricing and benefit approach

00:31:08 What to look for in a dental insurance policy

00:31:44 Importance of the dental insurance network

00:35:16 Dental Missing Tooth Clause

00:37:11 DIY Medicare insurance coverage and finding a trusted source

00:41:19 Show wrap

#015

Unpacking Gender Bias in Healthcare, and How Women Can Overcome It with Author Susan Salenger

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“Some doctors do respond differently to some women. I'm being careful because truly it's not a generalization. There is gender bias. I mean, it's still out there. There's no question about it.

As soon as women start talking about their feelings, and we all do that, it leads to a psychological diagnosis. There is no question that doctors see what they expect to see and sort of hear what they expect to hear, and that is partly because that's what they do but it's also partly because of how women talk to doctors. We're much more emotive than men are.”

-Susan Salenger, Author

Susan Salenger is the author of Sidelined: How Women Manage & Mismanage Their Health. While acknowledging the existence of gender bias, Susan writes a lot about helping women change this dynamic by showing them how to advocate for themselves, how to get past embarrassment, communication issues, shame and loneliness and proactively changing their approach to the healthcare system so they are less affected by gender bias.

This episode will give you an insider’s view into the latest links between gender and healthcare, gender differences in outcomes, approaches and attitudes towards self-care, second opinions and how women can change their approach to their doctors and the healthcare system.

Unpacking Gender Bias in Healthcare, and How Women Can Overcome It with Author Susan Salenger

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“I did interview women with all kinds of different diseases. What was so interesting to me was that they had several behaviors in common regardless of their particular disease.

The first thing I found, which did not surprise me at all, is that women put themselves last. There was this study done where they gave women a list of five items to prioritize, which would they care for first, and first we care for our children. Second, you'll love this, we care for our pets, then we care for our significant other and elderly family members. Last but not least, we care for ourselves.”

- Susan Salenger, Author

“I really learned was that women hesitate to get second opinions much more often than men do. I thought that was interesting because, really, the chapter in my book on second opinions is perhaps one of the most important chapters because it's so important to get a second opinion.

Women have been taught to play nice. We don't want to be rude, we don't want to hurt the doctor's feelings. All of that goes on, and so we just... I have so many women said to me, "Well, he was the professional. Who am I to question him?"

- Susan Salenger, Author

00:00:00 Intro

00:01:56 Sidelined: How Women Manage and Mismanage Their Health

00:02:38 What led Susan to write her book!

00:03:54 How doctors can treat men and women differently

00:05:08 Should you go to a male or female doctor?

00:06:38 Doctor age and gender bias

00:07:55 Book interview methodology and findings

00:10:49 Are women socialized to not challenge healthcare professionals?

00:11:58 Post-treatment regret

00:13:43 Healthcare advertising aimed at women

00:14:27 Anxiety, hesitancy and shame in the doctor’s office

00:17:12 Successful approaches to doctor’s visits – make a list!

00:19:03 Repeat back what you heard and write it down

00:20:58 Susan’s approach to focus groups and interviews

00:22:39 Loneliness and health

00:26:00 Women and clinical trails

00:28:10 Pushing back against a diagnosis of, “it’s all in your head.”

00:30:09 Advice for women in caretaking roles

00:32:25 Stress and healthcare

00:33.04 I manage to use the word “flummoxed.”

00:33:50 Pharmaceutical advertising and payment research

00:35:41 Show wrap

#014

Links between Alzheimer’s, Dementia and Diet with PhD Candidate and Health Coach Diandra from That Science Couple

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“It's not the weight that you are when you have dementia, but it's the weight that you had during midlife. So doing diet and exercise changes, now, when you're younger, will help with that. But also, if you're already in the 55 and over, if you haven't had any symptoms of dementia, it's a great time to start. If you already have dementia, then you can still have it, the diet can help to slow the progression of it. So, it's really important, because we don't have any drugs on the market that can do that right now."

-Diandra from That Science Couple

Diandra from That Science Couple is a PhD candidate at the University of Wisconsin and health coach who researches the links between diet, dementia, and Alzheimer’s disease. This episode will give you an insider’s guide to why making dietary changes may give you the best shot to stop or slow brain-related decline, how you can help a loved one if you’re a caregiver for an Alzheimer's patient and how allergy testing, stress reduction, genetics and science-backed, evidence-based nutrition coaching can all play a vital role in brain health and aging.

Links between Alzheimer’s, Dementia and Diet with PhD Candidate and Health Coach Diandra from That Science Couple

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“We used to think that Alzheimer's was only about the plaques, the amyloid beta and tau tangles, but actually we found out that there's a lot of mixed pathologies. So, people that will have some vascular components and then some of these typical amyloid beta or tau presentations, those pathologies for Alzheimer's. And so we know that the diet can actually work through the cardiovascular pathway, so it can help improve your heart. And then it also will help improve the blood flow in your brain as well."

-Diandra from That Science Couple

“I think that it's never too late, so I'll just put that out there. As long as you're on this Earth, every day is an opportunity to contribute to your own health. So that's my tagline, is that every day you wake up, you can choose, do I want to have that bacon double cheeseburger? Or do I want to have some light pasta dish or something? So it doesn't have to be all or nothing. And that's the great thing about the MIND diet is that you can just do pieces that are accessible to you. So you don't have to be perfect. And it's not a fad diet. It's not a "I'm just going to do this for six months to lose weight and then I'm going to go off of it." So if you do go down the plant-based route, a lot of times people do lose weight, but I say it's more how you feel and not so much focused on the scale."

-Diandra from That Science Couple

00:00:00 Intro

00:02:29 Diandra intro, PhD in nutritional sciences

00:03:48 the MIND diet; Mediterranean-DASH Intervention for Neurodegenerative Delay

00:04:48 Diet and Alzheimer's

00:07:00 Dementia and BMI

00:09:17 Early and late onset dementia factors

00:11:57 Plant-based documentaries and conversation

00:11:30 Dairy and the MIND and plant-based diets

00:15:41 Hemochromatosis, health and TMAO compounds

00:18:12 How caregivers can help dementia patients with diet

00:20:05 Coffee and Alzheimer’s risk

00:22:14 Caregiving Developing a dementia and Alzheimer’s friendly diet

00:24:11 Health coaching and nutritionists

00:26:27 When you know you need a health coach

00:27:35 Health coaching and allergy testing

00:30:56 SMART goals and health coaching

00:33:00 Meal planning

00:35:23 Evidence-based nutrition coaching

00:37:23 Health coaching process

00:42:34 Blood testing and essential vitamins

00:44:46 Show wrap

#013

Social Security Benefits Strategy Explained, Best Age to File Social Security, Social Security Office Tips, Social Security Filing for Couples with Jim Blair

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“I think the thing that people make their mistake on is not remembering, first of all, that this is a lifetime benefit. So, when I start my Social Security, I'm going to receive it the rest of my life. Now that's a good thing. You don't have to worry about the benefits ending because you ran out of money, but if you start benefits at 62, you're going to take a reduction anywhere from 25 to 30% reduction over what you would receive at your full retirement age. That reduction carries through for the rest of your life. So, you not only want to look at, is the amount of money I'm going to be receiving sufficient now, but what about in the future? And then tack onto that, the fact that if my spouse is going to step into my shoes when I pass away, how important are survivor benefits? And that's something that people just don't think about.”

-Jim Blair

Jim Blair is a thirty-five year veteran of the Social Security Administration and upon retiring, is now the Vice President and Lead Social Security Consultant at Premier NSSA. Jim is going to give us an insider’s view into the best way to maximize your Social Security benefits in retirement, spousal benefits, strategies for couples, how to use and interact with the Social Security Administration local office staff, what to watch out for, when you need to pull in a Social Security consultant and a whole lot more!

Social Security Benefits Strategy Explained, Best Age to File Social Security, Social Security Office Tips, Social Security Filing for Couples with Jim Blair

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“Overall, (the Social Security Administration is) a great organization. I'm not going to beat up on the folks I used to work with because I think they do a great job. They work really hard.

The issue that they are running into, and I think probably everybody is having this issue. A lot of people are retiring from the organization, people walking out the door with 30, 35 years of experience and service. And as the new people come in, they don't necessarily have a lot of the experience folks there with them. So, there is a little bit of a gap there, experience-wise. We do occasionally hear about some misinformation coming out of the local offices. It's not something you can't get fixed if that does happen. And we hate to hear when it does, but that's why it's also important to maybe talk to someone else, particularly if you have something a little different in your situation, that's not just I'm 62 and I'm going to take my benefits. But you want to make that plan and talk to someone outside of Social Security, probably before you file.”

-Jim Blair

“You have a small window of opportunity to change your mind. You have one year where you can tell Social Security, “Oh, I should not have applied. I want to withdraw my application.” Withdrawing your application is a pretty easy process. It's a one-page form you fill out, they're going to ask you why, but they don't care what the reason is. The tough part is though you must pay back every penny that they paid you, including money deducted for Medicare premiums, or money withheld for income tax if you have taxes withheld from your benefit. So, while you do have a year to change your mind, you also have to pay that money back. That's what makes it so important to make your decision based off a plan that you have made sure you looked at all your options, what's best for me?”

-Jim Blair

00:00:00 Intro

00:02:29 Social Security Office location overview

00:03:32 Jim and how he helps people decide when to take Social Security

00:04:27 What age to take Social Security

00:05:59 #1 mistake people make when to start Social Security benefits

00:07:31 Age 62 or age 70 Social Security benefits

00:08:17 Break-even point for waiting to elect Social Security benefits

00:10:04 Why people take Social Security at age 62

00:11:30 Is Social Security going broke?

00:14:35 Social Security strategy for couples

00:17:20 Social Security for couples close in age and farther apart

00:18:45 The importance of making a Social Security plan

00:21:08 Your local Social Security Administration office staff

00:25:04 Social Security Administration tips and tricks for using the local office location

00:27:01 Divorce, Ex-Spouses and Social Security benefits

00:29:18 Working while drawing Social Security

00:32:38 Undocumented immigrants and Social Security

00:34:26 Medicare and Social Security one time decision

00:37:26 DIY Social Security or hire a consultant

00:39:11 Social Security seminars

00:40:50 Questions to ask so-called Social Security experts

00:45:05 Last Social Security questions and show close

#012

Charlotte Bayala on Caregiving for a Spouse Using Yoga and Meditation to Maintain Good Mental and Physical Health

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“There are so many times where I'm like, "What if I just left?" It's weird because there's a lot of things with caregiving that they're unsaid because people are like, "I can't say this. People will judge me." And that's one of the things. I don't know a person who's found themselves deep into caregiving, overwhelmed, just feeling like crap and not thinking, even if it's for a split second, "If I could just go. If I could just go." And sometimes it's not, if I could just run away for forever, it's, "I just want to run away for like 10 minutes." So yeah. I think if anyone has been a caregiver for a long time and says that they've never felt that way, they're full of crap. There's just no way. It is so difficult.

Meditation creates resilience. So if you're someone who, let's say you go to a doctor's appointment with your person that you care for and they give you bad news. If you're a person that automatically you're stressed, you're overwhelmed, you're flustered. You can't even figure out how to get back home. If you were to begin to meditate on a regular basis, the next time that would happen, you would be a little bit more resilient. You would still get upset. You would still get stressed out, but you wouldn't be so flustered, and you'd be able to get back home. And the more you meditate, the better able you are to see what's happening in your life. But allow yourself to take a step back and say, "All right, this is what we're going to do." Instead of breaking down and falling apart, whenever anything is thrown at you.”

-Charlotte Bayala

Charlotte Bayala is Charlotte is a caregiver. She’s going to give us an insider’s view into her caregiving journey, how to prioritize yourself, your family, your activity, your mental well-being and your physical health.  Charlotte is a yoga instructor versed in meditation, breath control and she’s dedicated to helping other caregivers across the country navigate formal caregiving, informal caregiving, and everything in-between.

Charlotte Bayala Instagram

CharlotteBayala.com

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AARP Informal Caregiving Economic Impact of Caregiving

Charlotte Bayala on Caregiving for a Spouse Using Yoga and Meditation to Maintain Good Mental and Physical Health

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“Don't be passive about asking for the help that you need. No matter if it's your family, if it's friends, or if it's because you need to have it contracted out. You need to know, "I can't cook for the next two weeks. I need help with meals." And you find one, the people that, that are actually people who like to cook, that gives that person an opportunity to shine in what they actually know how to do and like doing, and they're able to do it and help someone at the same time. You have to see what thing can you ask a person to do that will benefit them. It sounds weird. It shouldn't have to benefit them, but if you want them to really show up and do that thing, that you need them to do, if they have more of a why to do it, they're going to be more apt to do it.”

-Charlotte Bayala

“The hardest thing for caregivers to do is to advocate for themselves. For me, that's the hardest thing for me to get a person to do, to say, "I am worth the trouble to actually stand for myself, to create boundaries and to do things for myself that I need to do so that in the end, all these things are so that you can be a caregiver long-term," so when you start saying, "Well, I'm not enough. It's not that big of a deal," you're actually taking time away from you being able to just enjoy time with that person that you're caring for.”

-Charlotte Bayala

“I think what surprised me the most was how seamless it seemed to be for us to go through this period of just hardship and heartbreak and loss. Even though there was no loss of life, there was loss of just the balance we had in our relationship, the loss of living life relatively carefree before cancer. If you're in life with cancer, you look back before cancer and you're like, "Oh my goodness, life was so much easier back then" even though there are probably things that felt hard. So I think what was actually the good thing was that we were able to sit back and be supported by how strong our relationship was before he had cancer. And I think that's the problem oftentimes when you're a caregiver of someone who you're in a relationship with. If your relationship wasn't strong, don't expect for it to automatically become stronger when you're under this, because you really see how people are when they're under this much stress.”

-Charlotte Bayala

“I have put people through just a five minute breathing exercise, and who have never breathed before other than normal breathing. Have never done yoga, have never meditated, just normal people who are caregivers. And when they finished, it always surprises me. It's like what keeps me going, is the look on their face when I bring them back out of it. And they're like, "I thought you said five minutes. That felt like a half hour. I felt like I just had a nap." It's just so awesome to see how, if someone can learn just how to breathe, how much better they feel. And the problem with caregiving is, we don't feel well. And maybe we didn't feel well before we were a caregiver either. I don't know. Some people could have had stressful, hectic lives before they became a caregiver.

And so for me, breathing especially is free. It's free. It's under your control at all times. So for me, if I can teach someone how to breathe, I can teach them how to find joy in small moments throughout their day. So to try breathing would be the first step I would say, because that's fairly simple. You don't need a lot of instruction to learn how to just do deep breathing.”

-Charlotte Bayala

00:00:00 Intro

00:03:19 When Charlotte’s husband got sick

00:06:58 From spouse to caregiver

00:08:33 Caregiver mental health

00:10:14 Caregiving – the first six months

00:12:41 Mourning “the way things used to be”

00:15:09 Breath control as a stress detoxifier

00:18:07 Family dynamics and caregiving

00:20:54 Active vs passive approach to caregiving

00:22:48 Importance of being very clear how others can help you

00:29:00 Advocating for yourself as a caregiver

00:30:23 Long-term caregiving

00:33:07 Finding a new normal

00:35:47 How spousal love evolves when caregiving

00:43:14 Feeling like running away is normal

00:46:47 Self-care, yoga, meditation, and breath work

00:51:17 The role of meditation in caregiving

00:56:29 Meditation, yoga, breath work: Only pick one!

00:59:58 Caregiving groups and communities

01:04:18 How healthcare providers don’t offer much support to caregivers

01:08:33 Charlotte’s podcast success

01:13:53 Caregiving final thoughts

01:16:25 Show Close

#011

Paul Tyler on All about Annuities and How They Fit Into Your 401K and Retirement Plans

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“Everybody owns an annuity, Matt. You know what that annuity is? It's called Social Security. We've all been paying into this thing, we've (been) taxed all the way up until we stop working. And when you turn 62, you can start taking Social Security. It is an “annuity,” meaning it will pay you a guaranteed sum of money until you pass away.

-Paul Tyler

Paul Tyler is the Chief Marketing Officer at Nassau Financial Services and the host of That Annuity Show, a podcast helps advisors explain the benefits of annuities.

This episode of The Matt Feret Show will give you an insider’s view into annuities. What annuities are, how annuities fit into your retirement plans, annuities and 401ks, how to buy an annuity, when to buy an annuity, how much annuity you need to buy one and a whole lot more.

Paul Tyler on All about Annuities and How They Fit Into Your 401K and Retirement Plans

Listen to the episode on Apple PodcastsSpotify, Deezer, Podcast Addict, Stitcher, Google Podcasts, Amazon Music, Alexa Flash Briefing, iHeart, Acast or on your favorite podcast platform. You can watch the interview on YouTube here.

Brought to you by Prepare for Medicare – The Insider’s Guide  book series. Sign up for the Prepare for Medicare Newsletter, an exclusive subscription-only newsletter that delivers the inside scoop to help you stay up-to-date with your Medicare insurance coverage, highlight Medicare news you can use, and reminders for important dates throughout the year. When you sign up, you’ll immediately gain access to seven FREE Medicare checklists.

“Annuities are not investments, they are insurance."

-Paul Tyler

I tend to explain these (annuities) or when people start to ask about the types, we really talk about…what are the needs you're trying to meet? And (I’m) saying needs can be met with a fixed or variable contract, in a lot of circumstances. I'll give you a couple examples, but really the most important thing before you go down this annuity rabbit hole is, do a financial plan, understand what your cash flow needs will be, and more importantly, what could they be?

-Paul Tyler

“A lot of the annuities have low minimums, ours is $5,000; I think there are some as low as $2,000. I think it would be wonderful if we could take this down to $100 at some point in the future, because I think that would encourage people to save more with insurance, we're not quite there yet as an industry.”

-Paul Tyler

“The Secure Act opened a really interesting opportunity for people to save more for retirement. I won't go into the history… but about two years ago, the Secure Act was passed, and 401ks are great, however, they just haven't made up for the pensions they're replacing. If you look at 401k balances today, yes, participation rates are going up, but it's shocking how low the balances are in a lot of people's accounts. And people don't understand that, "It feels like I've got a lot of money in this account." But when you start to say, "Well, if I really need to live off that when I'm retired, how much is this?"

-Paul Tyler

00:00 Intro

02:31 Paul Tyler’s Experience

03:26 Annuity Basics

04:44 Annuities and Mortality Risk

06:10 Fixed vs Variable Annuity

07:44 Annuities and Financial Planning

11:32 Annuity Fees

13:23 Annuity Returns and Liquidity Options

15:01 Single Premium Annuities

16:34 Annuities or Bank CD?

18:34 Annuities and 401k Plans

21:27 Good Online Annuity Resources

24:22 Annuity Experts

25:21 Annuity Seminars

30:27 Show Close

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