Misty Bolt - Demystifying the Medicare Maze

In this episode, which was recorded live from the HR Tennessee Conference in Nashville, David welcomes Misty Bolt, also known as "Medicare Misty." Misty demystifies the complexities of Medicare, explaining what it is and how it's funded, and she explains the critical differences between it and Medicaid. She also discusses the current state of Medicare, common misconceptions employees have as they approach retirement, and why early and continuous financial education is essential for ensuring a secure future. [0:00] Introduction Welcome, Misty! Today’s Topic: Demystifying Medicare and Planning for a Secure Retirement [3:16] The Current State and Future of Medicare How recent legislation is impacting Medicare Advantage plans and doctor’s funding. Navigating disruptions as some insurance plans are terminated, and the importance of open enrollment. [7:03] Why Employees Are Unprepared for Retirement Decisions How to navigate being "thrown out to the wolves" with no transitional support after decades of your company making healthcare decisions for you. The challenge of suddenly having to make complex decisions about Medicare, Social Security, and long-term care all at once. [15:58] Proactive Steps for Financial Wellness and Retirement The importance of engaging a financial advisor early in your career to plan for the future. Using financial tools like Health Savings Accounts (HSAs) as a retirement tool, not just for medical expenses. [18:15] Closing Thanks for listening! Quick Quote “[When you retire] you're thrown out to the wolves and [navigating Medicare] is . . . so hard and so complicated that nobody understands it.”