ABOUT THE GUESTS

dr. katy votava
ABOUT Private:

With her in-depth experience as a nurse practitioner and healthcare administrator, Dr. Katy Votava is an expert in healthcare reimbursement and outcomes, including those related to Medicare, Medicaid and long-term care. A major focus of Dr. Votava’s research is healthcare costs and outcomes for people during their retirement years. She has been published widely and [...]

ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently leads Pure Financial Advisors along with Michael Fenison and Joe Anderson. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. As of [...]

Published On
July 16, 2016

The landscape of retirement is changing. The cost of living is rising and we are living longer than ever before. Joe and Al share financial tips for this new age of retirement. Then they welcome Medicare expert, Dr. Katy Votava to share her best ways of coping with rising Medicare premiums in 2016.

Important Points:

1:57 “When you turn age 62 or 63, the income that you make is going to determine what your Medicare premiums are.”

7:58 “A lot of you are probably overspending or will overspend for your Medicare coverage and healthcare coverage so we want to talk to Dr. Katy to figure out what the solution is there to make sure you keep a little more money in your pocket.”

12:11 “We see five different expenses on the horizon that can threaten your lifestyle in retirement and that could dramatically impact anyone who’s thinking about retiring over the next five years.”

15:13 “When you look at spending money in retirement you have to take a look at a lot of different factors and risks, and one of them is healthcare.”

16:32 “Having an income strategy is key and look at all the potential risks in front of you.”

18:23 Start of Interview with Dr. Katy Votava

19:22 “People don’t know when to enroll and when they don’t have to. You need to get in at certain times – there are windows to get in and if you don’t when you need to, then you’ll have lapses and gaps in coverage and penalties down the road…enrollment periods are really key.”

21:45 “I always say it’s important not to leave money on Medicare’s table because if you don’t tell Social Security about your change in circumstance, they won’t know. But if you meet the criteria, you can do your own reporting and then most people are granted that lower premium during that current year.”

23:32 “At what age do you think people should start thinking about planning for Medicare?”

23:55 “It’s a really good idea to start planning by the time you’re 62.”

28:06 “Our website goodcare.com is a good place to start.”

28:10 End of Interview with Dr. Katy Votava

29:20 “Medicare premiums are based upon your income level because different people pay different amounts to Medicare.”

34:17 “A lot more people should be converting [to a Roth IRA] than you might think, and the reason for that is when you look at your future tax brackets in retirement, in many cases it’s higher than you think because of the income you’re going to be receiving.”