It’s Time for Medicare Open Enrollment!
For Mark Roberts’ Use: On October 15, Medicare began their annual open enrollment period. Each year the program makes various changes in covered services, from provider options to which procedures and medications it will cover. In response to changing needs of patients, Medicare provides this period for current plan participants to reexamine their coverage options, and make changes where necessary.
So what does this mean for you? If you currently receive Medicare, you should first examine very carefully any documents Medicare sends to you regarding changes in coverage. In some cases the changes are very minor and will not affect you. In other cases you may find that vital services have been deleted from your program.
Second, you should also reexamine your personal situation. Even if your coverage isn’t changing, your needs might be different than they were one year ago. Has your doctor mentioned changing or adding any medications? Have you developed any new health problems, or have you been told that you’re at high risk for certain diseases or conditions? Do you anticipate any surgeries or other procedures coming up within the next year? All of these things may signal a need to reexamine your Medicare coverage.
Another thing to consider is your financial situation. Calculate your out-of-pocket costs for the past year, estimate your possible expenses for the coming year, and see if changing between Medicare programs could benefit you financially. From October 15 through December 7, you can make the following changes to your Medicare plan:
- Switch from Original Medicare to an Medicare Advantage plan, or change from Advantage back to Original
- Make a shift from one Medicare Advantage plan to another that better suits your coverage needs
- Add a Medicare Part D Prescription plan, if you didn’t already have one
- Switch from one Part D Prescription plan to another one
- Drop Part D Prescription coverage
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In addition to managing clients’ money and giving investment and diversification advice, Mark offers something that “the other guys” don’t - a unique approach to Retirement Tax Strategies and distribution. Time and time again, Mark meets with new clients who tell him they have a great relationship with their financial advisor but have never been offered information on this kind of approach to securing their financial futures. Mark has taken this feedback to heart and works tirelessly to ensure that his strategies focus on taxes and distribution.
Mark started selling insurance for a major insurance company right out of high school to help put himself through college. After graduating with a degree in finance, he dove into estate planning on the financial side to set himself apart from other financial advisors. However, as changes were made to estate tax laws over time, Mark shifted his focus to income tax strategies.
Mark’s philosophy is “the blue prints are more important than the wall paper or carpet.” The wall paper and carpet represent products like investments and insurance policies, whereas the blue prints represent the strategies. Once strategies that truly fit the client’s needs are put in place, our focus can shift to providing you with the right products. According to Mark, “It doesn’t matter what carpet we use if the walls are not in the right place.”
Our approach to money management is designed to generate the largest alpha (quality) with the lowest standard deviation and beta (risk). By doing this, we help provide clients with the highest return on the lowest risk. Generating income for our retirees is also very important. Because withdrawing money from your portfolio hurts the account rather than helping it, our goal is to design income strategies to harm the portfolio the least making the money last longer.