One well hidden gem in the world of dealing with Medical expenses comes in the form of a Reserve Fund Annuity. I only know of one insurance carrier serving Washington and Oregon that offers this incredible product.
When you purchase a Medicare Supplement Policy, Medicare pays 80% of your hospital and medical bills. The remaining 20% won’t be fully covered by your Medicare Supplement Plan unless you have Plan F which is no longer offered to those newly eligible for Medicare after January 1, 2020.
To simplify life you can enroll into a Reserve Fund Annuity. You simply deposit funds into it and you earn 3% interest. If you have copays, deductibles, or coinsurance costs, the insurance company simply covers the portion not paid by Medicare from the balance of your Reserve Fund Annuity account. If you don’t spend it, it just continues to grow at 3% which is better than any bank CD currently available.
If you need the money for some other reason, you can simply withdraw it without any fees or penalties.
To learn more, just contact me at 503-703-0208 or use the calendar on this website to set a date and time for a chat. You can also use the contact form on this website. I make zero commission or income of any kind on this product, but my clients love it.