Medicare planning and special enrollments

| Nov 10, 2016 | Long-Term Care Planning |

Making long-term medical decisions can be difficult for people of all ages. However, a variety of governmental benefits may be available to Michigan residents to help them through the process. Understanding and planning for these medical benefits can be extremely important for a person’s financial security well into retirement.

Medicare, in particular, can be difficult to understand. If proper long-term care planning is not implemented, people can miss out on benefits or pay more than they otherwise would have to. There are many requirements that must be met in order to qualify for Medicare. For example, people must apply to enroll for Medicare benefits within a certain period of time or lose the right to these benefits. If they try to apply later, then they can face financial penalties.