How do you make sense of Medicare when you’ve spent your life solving technical problems?

Bob Stern, a principal metrologist emeritus with a long career at Hewlett Packard and Keysight Technologies, had some clear decisions to make as he approached retirement.

In this episode:

• Hear what it’s really like to transition from a lifetime on Kaiser to navigating Medicare on your own
• Learn how travel and lifestyle priorities can shape your healthcare choices
• Find out what Bob wishes every retiree would track as they approach Medicare

Key Takeaways

1. Bob highlights the importance of adaptability throughout his career, moving between divisions at HP (later Agilent and Keysight) and transitioning into retirement through programs that allowed phased, flexible work.

2. Making informed Medicare decisions can be daunting, even for highly intelligent professionals. Bob’s experience shows that having an expert guide you through the process, such as attending seminars or consulting with knowledgeable agents, is invaluable for clarity and ultimately choosing the best coverage for your lifestyle and health needs.

3. Bob and his wife chose a Medigap plan for flexibility and nationwide coverage, versus being restricted to certain networks like Kaiser. The conceptual takeaway is that Medigap offers broader access and fewer copays, which becomes especially important for those who travel, want provider choice, or seek peace of mind about coverage across locations.

4. Prescription drug coverage is not a "set it and forget it" aspect of Medicare. Bob’s story underlines the necessity of reviewing drug plans annually to adapt to changing medications and pricing. Proactive annual reviews can lead to significant savings and ensure that your coverage matches your current medical needs.

5. Retirement brings new financial considerations, especially related to healthcare costs and how income affects Medicare premiums. Bob emphasizes the value of tracking income, understanding how it impacts healthcare premiums, and planning withdrawals and charitable donations accordingly. Smart planning can help avoid unexpected costs and optimize your retirement finances.

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