Brought to you by:
Bill Hurlbut, CLU
Hurlbut Insurance Services
1933 Schumac Ln.
Bedford, TX 76022
817-685-2915
bill@hurlbutinsurance.com
About Our Firm:
Bringing you 39 years of experience to help meet your needs in the areas of life insurance, health insurance, disability insurance, long term care insurance, cancer insurance, fixed annuities, group insurance and employee benefit plans.

You may also want to check out HEB Health Insurance for no obligation health insurance quotes.
QUOTES fromtheMasters...
On Self-Confidence On Vision
"Toomany people overvalue what they are not and undervalue what they are."-- Malcolm Forbes

"Betterkeep yourself clean and bright; you are the window through which youmustsee the world." -- GeorgeBernard Shaw

"Ifyou have great ideas and no confidence to share them, you will not getcredit for having them." -– PatriciaFripp

"Self-confidencecomes naturally when your inner life and your outer life are inharmony."-– Brian Tracy

"Yesterday'spassions may not serve tomorrow's goals." -- FredericHudson

"Ithink all of us are looking at the future with yesterday's eyes." -- DanBurrus

"Achievingyour vision doesn't mean you've reached the end of the line.  Itsimplymeans that you've come to a new starting place." -– NidoQubein

"Developa clear vision for your organization.  Where do you want to be infive years?" -– BrianTracy


Retirement Readings Paying for Health Care in Retirement


Planahead.  It wasn't raining when Noah built the ark.

It would be nice to believethat health care cost increases were a temporary phenomenon. Unfortunately,that's not the case…the cost of medical care has outpacedinflation forthe past 20 years and predictions are that medical and long-term carecostswill continue to escalate as much as 10% to 15% per year into thefuture.

The decisions we make asto how and where we live in retirement are unique to each individual orcouple.  The options open to us, however, are frequentlydeterminedby our financial resources…our ability to pay.  This reviewof thevarious ways to pay for health and long-term care costs duringretirementis offered in the hope that it will be of assistance to you as you makedecisions regarding your retirement plans.

The options available topay for medical and long-term care costs in retirement include thefollowing:

RetireeHealth Insurance Plans:  If your company providesretireehealthcare benefits, make sure you know how much of the premium you will berequiredto pay, as well as deductible and co-payment requirements. Retireehealth insurance plans are generally designed to coordinate withMedicarebenefits.  Caution: Even if your employer currently provides retiree health care benefits,there is no guarantee those benefits will be available when youretire. The escalating costs of medical care, combined with the "Baby Boomeffect"…alarge "bubble" of people who will make a substantial contribution tothesize of the aging population…are causing employers to rethinktheir retireehealth care plans.  Some companies are requiring that retirees paya higher share of the premiums to cover themselves, their spouses andanydependents.  Other companies are implementing higher co-paymentsand/ordeductibles.  Still other companies are discontinuing retireehealthinsurance plans altogether.

Medicareand "Medigap" Insurance:  Most people qualify forMedicareinsurancewhen they reach age 65.  Medicare helps to protect you from thecostsof medical care during retirement.  One fact, however, isevident…thereis no "free lunch."  You will have costs related to medical careandthe likelihood is that those costs will continue to increase eachyear. 

Medicaid: Medicaid is a joint Federal and state program that helps with medicalcostsfor some people with low incomes and limited assets. To qualify forMedicaid,federal poverty guidelines for income and assets must be met.  Inaddition, there are state requirements for Medicaid eligibility. Medicaid is essentially a safety net for those who didn't adequatelyplanfor their financial needs in retirement, or who encounteredunexpectedlylarge expenses that depleted their financial resources. 

Long-TermCare Insurance:  Long-term care insurance can put you incontrol,preserving your dignity and allowing you to select the type of facilityand setting in which you want to receive long-term care services, ifneeded. Long-term care insurance also helps protect your personal assets,preservingthem for your use or as an inheritance for your family.  Suggestion: Check with your employer…your company may offer long-term careinsuranceas a voluntary or supplemental employee benefit!

PersonalSavings:  Reviewyour retirement plan to make sure that itadequatelytakes into account the potential costs of medical care and long-termcarein retirement.  If you find a shortfall, you may want to increaseyour personal savings now in order to have sufficient funds availableafteryou retire.  Some experts suggest setting up a separate fund oraccountspecifically to pay for health care needs in retirement.  Thisapproachadds focus to your plan and better enables you to assess yourprogress. 

HomeEquity:  Many retired people have built up substantial equityin their homes.  There are a variety of ways to tap that equity ifneeded to pay for health care costs in retirement, including sellingthehome, arranging a home equity loan or line of credit or using a reversemortgage to supplement your retirement income.

GoingBack to Work:  When it comes to planning for health care needsas we age, it's time for a reality check.  It's fine today, whenourhealth is good, to state the intention to return to work if financialneedsarise, but how many 70+-year-old people with health problems reallywantto be out looking for a job?  In reality, planning to return toworkin order to pay for health care needs during retirement isn't so much aplan as it is a hope…a hope that we won't face substantialhealth carecosts as we age.


 
Don'twaituntil it rains to start building your ark…plan ahead while thechoicesare still yours to make!

Contact myofficeif we can help.


MESSAGESfromthe Masters...
CONSIDERTHE CONSEQUENCES by Brian Tracy

Themark of the superior thinker is his or her ability to accuratelypredictthe consequences of doing or not doing something. The potentialconsequencesof any task or activity are the key determinants of how important itreallyis to you and to your company. This way of evaluating the significanceof a task is how you determine what your next frog really is. 

LONGTIME PERSPECTIVE 

DoctorEdward Banfield of Harvard University, after more than 50 years ofresearch,concluded that "long-time perspective" is the most accurate singlepredictorof upward social and economic mobility in America. Long timeperspectiveturns out to be more important than family background, education, race,intelligence, connections or virtually any other single factor indeterminingyour success in life and at work. 

Yourattitude toward time, your "time horizon," has an enormous impact onyourbehavior and your choices. People who take the long view of their livesand careers always seem to make much better decisions about their timeand activities than people who give very little thought to thefuture. 

THINKABOUT YOUR FUTURE 

Successfulpeople have a clear future orientation. They think five, ten and twentyyears out into the future. They analyze their choices and behaviors inthe present to make sure that they are consistent with the long-termfuturethat they desire. 

Inyour work, having a clear idea of what is really important to you inthelong-term makes it much easier for you to make better decisions aboutyourpriorities in the short-term. 

DETERMINETHE CONSEQUENCES 

Bydefinition, something that is important has long-term potentialconsequences.Something that is unimportant has few or no long-term potentialconsequences.Before starting on anything, you should always ask yourself, "What arethe potential consequences of doing or not doing this task?" 

Theclearer you are about your future intentions, the greater influencethatclarity will have on what you do in the moment. With a clear long-termvision, you are much more capable of evaluating an activity in thepresentand to assure that it is consistent with where you truly want to endup. 

MAKEIT A TOP PRIORITY 

Ifthere is a task or activity with large potential positive consequences,make it a top priority and get started on it immediately. If there issomethingthat can have large potential negative consequences if it is not donequicklyand well, that becomes a top priority as well. Whatever your frog is,resolveto gulp it down first thing. 

KEEPMOTIVATED 

Motivationrequires motive. The greater the positive potential impact that anactionor behavior of yours can have on your life, once you define it clearly,the more motivated you will be to overcome procrastination and get itdonequickly. 

Thinkingcontinually about the potential consequences of your choices, decisionsand behaviors is one of the very best ways to determine you trueprioritiesin your work and personal life. 

ACTIONEXERCISES 

Reviewyour list of tasks, activities and projects regularly. Continually askyourself, "Which one project or activity, if I did it in an excellentandtimely fashion, would have the greatest positive impact on mylife?" 

Whateverit is that can help you the most, set it as a goal, make a plan toachieveit and go to work on your plan immediately. Remember the wonderfulwordsof Goethe, "Just begin and the mind grows heated; continue, and thetaskwill be completed!"

Wedon't want to add to your e-mail clutter!  If you do not enjoymynewsletter, just reply to this e-mail and ask to be removed or call myoffice.  Thanks!

The purposeof this newsletteris to provide information of general interest to our clients, potentialclients and other professionals.  The information provided isgeneralin nature and should not be considered complete information on anyproductor concept described.  For more complete information, pleasecontactmy office at the phone number above.

 
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