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Nest Egg
THE
DECEMBER 2020
Is Medicare Misunderstood? Setting the Record Straight on Medicare Coverage
Medicare open enrollment ends on Dec. 7. By the time you read this, that date will likely have just passed. However, we’re still getting a lot of questions about Medicare. There is a lot of confusion, and people want to make the right selections for their situation. At a glance, Medicare can be confusing. There are different options to choose from, and you can customize your plan in numerous ways. To clear up some of the confusion, I want to address a few concerns we’ve been hearing lately. To start, Medicare coverage, for the most part, begins at age 65. If you sign up for Medicare within the six months before you turn 65, your coverage begins on the first day of your birth month. There are other instances when Medicare can start earlier than this (if you are on Social Security Disability Insurance, for example), but for a majority of people, this is when it starts. Medicare, by itself, doesn’t cover everything. It’s a broad government-based insurance program, but it does have limitations. To cover the “gaps,” there are several private health insurance plans you can choose from that help supplement Medicare. Together, these plans make up Medigap. Specific plans vary, and the decision to purchase a Medigap plan will depend completely on your needs. Medicare also doesn’t cover prescription drugs. That’s where Medicare Part D comes in, which is a sub-plan within Medicare that you must enroll in if you need prescription coverage. You can start to see where the confusion comes in. Because many people need comprehensive coverage, they may end up enrolling in Medicare, Medicare Part D, and Medigap — that represents three different insurance cards. It doesn’t end there. There are also Medicare Advantage plans (these are sometimes referred to as MA or Medicare Part C). These plans are a selection of private health insurance policies. You can typically choose from health maintenance organizations (HMOs) or preferred provider organizations (PPOs). The Medicare Advantage plans are offered as an alternative to the base Medicare plan. The big difference between Medicare and Medicare Advantage is cost. The HMO and PPO plans have a low monthly cost, sometimes very low. However, if you get sick, that’s when these plans can start to really cost money.
Traditional Medicare, on the other hand, comes with a monthly payment, but you generally pay nothing above that. If you get sick, you will likely have few costs to worry about. Additionally, you will likely have a great choice of doctors since most accept Medicare. With HMOs and PPOs, there’s a higher chance you will be stuck with doctors who are “in network.” You may also run into instances where the insurer must approve a treatment or procedure before they’ll pay for it. If you anticipate illness, sticking with regular Medicare will give you greater long-term savings, even though it can come with a higher month-to-month cost. Alternatively, Medicare Advantage may be the way to go if you want to save money month to month, provided you’re not dealing with illness.
To wrap up, I want to leave you with three final points that often lead to confusion:
1. You MUST enroll in Medicare at age 65. You’re auto-enrolled in Part A and B at 65 if you’re on Social Security. If you’re working, you don’t have to accept Part B. In some cases, you might not even have to accept A because HSA contributions must stop if you’re on Part A. 2. Insurance agents don’t tell you everything about open enrollment. This period is only for those who want the HMO/PPO plans from private insurance companies and drug plans. This is not for Medicare, but you would never know that by watching the commercials. 3. If you delay, you pay! If you aren’t working — or work for a small company — and you don’t enroll in Medicare at 65, you may never be able to get it again. This period, generally, is the only time you can get Medicare without underwriting. If you pick an HMO plan instead and your health declines, you may never be able to get back to Medicare.
If you have further questions about Medicare, please ask. It’s a big “next step” that you certainly don’t want to be confused about!
-Dan Casey
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CREATING THE PERFECT SNOWBALL FIGHT WITH NO SNOW AT ALL
An old-fashioned snowball fight is the epitome of winter activities. But if snowfall is lacking or it’s just too cold to venture outside and hurl freezing balls of ice at each other, don’t let it dampen your spirits. You can create and orchestrate your own indoor, snow-free, and entirely safe snowball fight. Make Your Snowballs While craft stores sell large white cotton puffs that look like snowballs, they’re too light to get any good velocity behind them. Instead, make your own “snowballs” with just a few materials in four easy steps: 1. You’ll need a pair of scissors, several pairs of cheap white nylon stockings (one pair can make about 10 snowballs) and a bag of polyester fiberfill, like Poly-Fil, or use the stuffing from a few old stuffed animals you no longer want.
2. Stuff a handful of the filling down into the end of one stocking leg and tie a knot, creating a round “snowball.” 3. Make another knot after the one you just made, leaving a little space between the two knots. 4. Cut between the two knots to snip off a tied-off snowball. Repeat these steps until you have at least a few dozen, but if you’re patient enough to make 100 or more, you’ll have ample supply for a substantial encounter. How to Play There’s really no “right” way to have a snowball fight. It’s often just about who can hit whom the most, but if you want to turn it into a measurable competition, divide your group into two teams and distribute the snowballs evenly
between them. Then create
boundaries for each team by laying down masking tape across the room. Teams must stay on their side of the line at all times. Set a timer for however long you’d like the fight to go on, and at your signal, teams can start hurling snowballs across the room at one another. When time is up, gather and count the snowballs on each side, and the team with the fewest snowballs is the winner! A crafty indoor snowball fight can be a lot of fun for people of all ages, not just kids. Best of all, the crafting part is something you only have to do once, and then you have a stock of snowballs for every winter to come.
NOT JUST A CORN COB PIPE AND BUTTON NOSE
THE SURPRISING HISTORY OF THE SNOWMAN Building a snowman is one of the most picturesque winter activities, which is why snowmen have become a wintertime cultural icon. A snowman appeared on the very first postcards, was the subject of some of the earliest photos, and even starred in silent movies. Frosty may be a happy snowman now, but his ancestors have a much more varied — and sometimes dark — history.
The Miracle of 1511 In Brussels in 1511, during six weeks of subzero temperatures called the Winter of Death, the city was miraculously adorned with hundreds of snowmen. The spectacle told stories on every street corner — some political and some demonstrating anger with the church, many too risque to speak of. For the people of Brussels, this Miracle of 1511 was a defining moment of artistic freedom. But when spring came and the snow thawed, the Belgians were left with damaging floods. The Schenectady Massacre Not all snowmen have an innocent history. In 1690, former Fort Schenectady in upstate New York was home to a remote Dutch settlement, which was under the constant threat of attack. Soldiers guarded the gates at all times because they were frozen open, but during a blizzard, they left a pair of snowmen to protect the gates while they sought shelter. That’s when 200 French Canadian soldiers and Native Americans approached. Naturally, they were unfazed by the snowmen and ruthlessly invaded the settlement. Building a snowman seems like a simple and charming activity, but after learning about its surprising history, you might find those piles of snow seem a little more complicated and a lot more meaningful than before.
The Middle Ages Snowmen were a phenomenon in the Middle Ages. They were constructed with deep thought and great skill because, during a time of limited means of expression, snow was a free art supply that literally fell from the sky. These artistic feats were popular winter attractions for well-to-do couples who wanted to get their fix of temporary art. Snowmen were often created by famous artists, including 19-year-old Michelangelo who, in 1494, was commissioned by the ruler of Florence to sculpt a snowman in his mansion’s courtyard.
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Ah, the holidays. It’s a time of sweet treats, family, and giving back — and sometimes giving a little too much. When it comes to the perfect holiday gift, many people spend too much money. The average American spends nearly $1,000 on gifts during the December holidays alone!
your own talents as a clue to what you should give.
If you’re a great crafter, create something unique for the people on your list. If you can offer the gift of
3 GIFT-GIVING TIPS THAT WON’T KILL YOUR SAVINGS
time, provide a free night of babysitting for your friends with kids or an experience at the local theater. These gifts have a bonus factor: Recipients love the gift when they open it, and they love it when they get to use it! Set a budget — and stick to it. Setting a holiday budget ensures you only spend what you can afford. It also narrows down your search. If you choose to buy your neighbor something, but they aren’t your top priority, set their budget at a lower level, like $25–$50. If you have a sibling who has had a rough year and you’d like to make their holidays a little brighter, bump their budget up. This narrows the focus of what you’re looking for so you don’t stumble into something you can’t afford. Ultimately, it’s the spirit of giving during the holidays that makes them so rewarding. With a little ingenuity, you can be generous and avoid the stress of excess debt come January.
It’s possible to cut back and make it to January without major debt. Here’s how.
Check your list — twice! The list is going to be your secret weapon to tackling the holidays with your savings still intact. Start by writing down the name of every person you’d like to get a gift for. Now, with the exception of your immediate family members, narrow the names down to your top five — top 10 if you’re really popular. Now, place the names of the people who didn’t make the cut into a second list. If you still feel the need to do something for them, send homemade cookies or a handwritten note instead of purchasing something. This limits how much you actually have to spend! Think beyond store-bought or expensive items. Sure, everyone wants this holiday season’s “it” item, but sometimes the best gifts don’t even come wrapped under the tree. Instead, look to
HAVE A LAUGH
Not Your Grandma’s Fruitcake
Inspired by SimplyRecipes.com
Ingredients
• • •
1 tsp baking soda 1 cup sour cream
• • • • •
1 stick butter 1 cup sugar
3 1/2 cups mixed dried fruit of your choice, chopped
1 egg, room temperature
Zest of 1 orange
• •
1 cup nuts of your choice, chopped 2 cups all-purpose flour, divided
1 tsp salt
Directions
1. Preheat oven to 325 F. Line a 9x5-inch loaf pan with greased baking paper. Ensure the piece running the length of the pan stands 1 inch above each side to form “handles.” 2. In a small bowl, mix baking soda and sour cream. 3. In a second bowl, combine fruit, nuts, and 1/4 cup flour. 4. In a third bowl, beat butter and sugar until fluffy. Add egg, zest, and sour cream
mixture. Then, add remaining flour and salt. Mix, then add fruit mixture.
5. Pour batter into lined pan. Fill up a
separate loaf pan halfway with water. Bake both pans in oven for 1 1/2–2 hours or until a skewer leaves the cake clean.
6. Use “handles” to remove cake from pan and cool completely on a rack before serving.
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INSIDE This Issue Confused by Medicare? A Few Things You Need to Know Craft a Snow-Free Indoor Snowball Fight The Surprising History of the Snowman 3 Fool-Proof Ways to Pay for the Holidays Without Going Broke Not Your Grandma’s Fruitcake Winter Road Trip Essentials You Didn’t Know You Needed
A DRIVER’S GUIDE TO SAFE HOLIDAY TRAVELS Winter Road Trip Essentials You Didn’t Know You Needed
On Sept. 24, 2019, more than 2.5 million people passed through TSA checkpoints at airports across America. On the same date this year, those terminals saw just 826,316 travelers — a nearly 70% drop. Since the COVID-19 pandemic hit, Americans have been thinking twice about air travel, and this holiday, millions of would-be flyers will set out on road trips instead. Road tripping is a great way to avoid contact with a lot of people, but it can also be dangerous, especially in winter weather. Fortunately, you can take several steps to keep your family safe. Getting your car checked before you go, for example, can save you a lot of hassle on the road, as can investing in a set of snow tires. It’s also smart to take precautions such as letting a friend or family member know your route, predicted arrival time, and where you plan to stop for gas along the way. Apart from that, one of the best things you can do is pack an emergency kit. AAA sells premade kits through outlets like Amazon, and you can
find a basic kit with things like jumper cables, ponchos, rope, batteries, pliers, zip ties, and a first-aid kit at pretty much any Walmart or sporting goods store. You could even save a life by adding a few more essentials to your kit, like a blanket, snacks, and an extra cellphone charger. At this point, you’re almost a safety black belt. But to take your kit to the next level for winter driving, there are three more little-known items you should stash in your trunk: a shovel, a bag of sand or cat litter, and an extra bottle of windshield wiper fluid. If you get stuck in a snowbank, the shovel will help you dig your way out without risking frostbitten fingers. The sand or cat litter will boost your traction if you sprinkle it around your wheels in an icy spot, and the extra wiper fluid will make all the difference if you run out during a snowstorm.
Once you’re prepared, crank up the Christmas carols and get driving!
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