Today’s post is a guest post from Marty Weiss – Weiss Ratings.  Marty is an expert on Medicare and has some really interesting information to share with you.

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If you or a loved one signed up for Medicare Advantage during the recent open enrollment period, and are now regretting the decision, we have good news … you have until February 14 to reverse your decision!

That’s right: You can get out of your Medicare Advantage plan and switch back to Original Medicare.

Of course, if you’re considering doing this you might also want to add a supplemental “Medigap” insurance policy, too.

By using this combination, you can get solid overall coverage ANDstick with the doctors and other caregivers that you already know and trust.

And we can certainly help you learn more about all the various options available to you right now — including the cheapest (and best) Medigap plans for your particular circumstances.

Just read this article from our company’s founder, Dr. Martin D. Weiss to learn more right now.

Best wishes,

The Weiss Ratings Team

Its that time of year again — we have until December 7th to find or change our Medigap policy.

Consider this:

Right now, for example, a 71-year-old woman living in Dayton, Ohio will have to pay an exorbitant $3,372 per year with Humana Insurance Company for a Medigap Plan C. But if she goes with Gerber Life Insurance Company, she’ll pay only $1,585 for the exact same policy.

Can you believe that? With Humana, she’ll wind up paying more than DOUBLE the premiums she needs to pay. In contrast, with Gerber Life, she’ll save a whopping $1,787 per year, and still get the same benefits!

Her 82-year-old husband can save even more — $2,927 per year, for a total of $4,714 in savings between them.

That’s just for one year! Over the next 10 years, the couple could save $47,140 with Gerber Life. And at 3% interest, those savings alone would pile up to $61,997!

THAT’S A LOT OF MONEY !!!

Like you I have been to those websites that allow you to compare policy coverage and costs –and I still ended up paying over $900 to much last year for exactly the same coverage I have elected this year.  When my wife turns 65 that will double.

Not exactly penny change!

This is just one case. So don’t take this as a recommendation for Gerber Life — because in YOUR particular case, they could be the MORE expensive option.

But also consider the case of a 76-year-old male smoker living in Flagstaff, Arizona.

With Standard Life & Accident he’d pay $4,580 for a Plan C Medigap Policy. But simply by switching to Government Personnel Mutual Life Insurance Company of Omaha, he can get the same policy for just $2,280.

That’s not just a 15% savings like some auto insurers rave and rant about all the time on TV. It’s a savings of 50.2%!

How to save money on Medigap Insurance

One of the people I respect and follow is is Marty Weiss who runs Money and Markets.  Marty is a financial guru and adviser.  I have subscribed to his advice for about 4 years now and he has both made and saved me a ton of money.  Marty has just come out with a new report and service that can help you save hundreds –or even thousands of dollars a year on your Medigap plan.  And the best news of all. If he can’t save you money he will give you a free refund –good for one full year.

Go here to read about Marty’s report and his own family’s experience with insurance plans.  You won’t regret it.  Remember, Marty’s report comes with a 100% guarantee.  And while you are there, be sure and sign up for his free Money & Markets Newsletter.  You won’t regret that either.

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The debate in Washington over raising the debt limit has highlighted something that most of us (and the folks in Washington DC) have known for a long time.  There is simply not enough money in the world that can pay all the future bills of Medicare, Social Security and Medicade –Let alone Obamacare that will add another Trillion Dollars in unfunded liabilities over the next ten years.

I can’t remember who did it, but one of those Washington think tanks did a study where they calculated that you could raise the tax rate to 90% on every single American –rich, poor and middle class, and you would still not have enough money coming in to pay for all of the entitlement spending at current and projected levels.  So yes.  Social Security and Medicare too will have to be cut.  And the cuts will have to be deep.

Here is what the cuts will probably look like.  They will consist of some or all of these steps. (Note: I am not suggesting we should do these things –just saying this is what the folks in Washington are considering).

Social Security Cuts

• Raise the retirement age to 68 now and later to 70.
• Eliminate early retirement at age 62
• Adjust inflation indexing downward
• Extend the tax rules on retirees earning over $14,000 a year to age 70. (Each $2.00 of income you make over $14,000 a year, reduces your payment by $1.00).
• Some type of means test based on total retirement income from all sources (dividends, other retirement plans, military retirement and withdrawals from IRAs and 401Ks.  Those with a total retirement income over a certain level (the betting is $30,000) would receive a reduced payout.

Medicare Cuts

• The Justice Department will set up a special Medicare/Medicaid fraud unit with a goal to reduce fraud by $100 billion per year  (about 1/3rd of the current estimated fraud).
• The Government will hire an outside auditing firm to audit Medicare claims to prevent fraud and general misuse.
• A deductible system will be introduced based on retirees total income from all sources.  Those whose only income is SSI would be left alone. Those whom have additional sources of income would have to pay a deductible and perhaps even co-pays based on the size of their income.
• Institute medical review panels to limit care to end of life situations
• Allow Medicare to negotiate rates with drug companies and medical supply companies as is now done by the Veterans Administration.  This one step alone will save $70 Billion/year.

All of these steps combined could reduce SSI and Medicare payments by about $500 Billion per year by 2015.  That will still leave a shortfall, but it will be more manageable and could be covered by a combination of economic growth and increased taxes.

I would love to hear your comments.  How would you fix the problem of a $5 Trillion shortfall over the next 15 years?  Please use the comment form below.

Note – All comments have to be approved so they will not show up instantly. I only kill comments that are either spam or contain objectionable material so feel free to vent –but I would really like to hear some positive ideas.

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I don’t often cover health and fitness issues in this blog, but this was something that worked for me and I wanted to share it with my readers.

Lets face it, we seniors face a constant battle with belly fat.  The stuff just seems to appear.  I have tried diets, exercises, celebrity cures, Fat Burner pills and the stuff just won’t go away.

Lose up to 29 pounds of stubborn belly fat.

I was doing some research and found the 31 Day Belly Fat Cure that was designed by a former Army sergeant.  This simple and easy method will help you lose up to 29 pounds of stubborn belly fat. And anyone in reasonable physical condition can do this.  Its a no-stress method and it works. (No – I am not going to show you pictures, but I went to Costco yesterday and bought three pair of jeans and two pair of Dockers’ trousers two sizes smaller in the waist after only two weeks).

Here is a short video that explains the 31 Day Belly Fat Cure.  If you decide its for you, you are in good company as this is currently the best-selling belly fat loss program on the web today –and its perfect for us seniors.

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A lot of people are buying up Potassium Iodine tablets due to the Japanese Radiation scare.  It is pretty unlikely that the radiation will arrive here in dangerous amounts, but if we ever have our own nuclear plant disaster it would be good to have these on hand –and they are pretty cheap insurance.  Although most drug stores are out, Amazon has a pretty good supply of Potassium plus Iodine 180 tabs that sell for only $11.99 bottle.