Smoky Mountain Trader

January 21, 2021

The Smoky Mountain Trader a free Classified paper serving 12 counties in 3 states. Hamblen, Knox, Jefferson, Cocke, Grainger, Sevier, Hancock, Hawkins, Claiborne and Greene Counties in Tennessee. Plus Lee County Virginia and Bell County Kentucky.

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125 Health (1) Wheel Chair Hauler for a hitch, $150. 423-581-1439. 135 Tanning SuperSonic 220 Watt Sun Capsule VHR/HP Standup Tanning Bed w/Changing Area Extra Bulbs $1,200 OBO 423-231-1193 145 Musical Equipment BUY-SELL-TRADE QUALITY MUSICAL INSTRUMENTS. TOP DOLLAR FOR QUALITY ACOUSTIC GUITARS. CALL THE TRADE CENTER AT 423-587-3277 200 Collector's Items 30+ Snoopy Peanuts Face Mask Designs available, all handmade using Cotton fabric, new, Visit SteveZMaskZ.com 865-375-0266 Text or Leave VM 202 Crafts Two Old Cross Stitch Maga- zines, Cross Stitch Sampler Christmas 1991; Cross Stitch & Country Crafts, Sept/Oct 89. Asking $5 for both OBO. Text 865-227-3213. If you're close to retirement, you'll have several financial issues to consider. But you'll want to pay attention to one of the most impor- tant of these issues: health care costs. How can you prepare yourself for these expenses? First, get an early start on estimating health care costs. More than two-thirds of those planning to retire in the next 10 years say they have no idea what their health and long-term care costs will be in retirement, according to the Edward Jones/Age Wave Four Pillars of the New Retirement study. And some people don't worry much about these costs, which may be considerable, thinking that Medicare will pay for most of them. While Medicare does cover many medical expenses, it also has its own costs. You probably won't pay a premium for Part A (inpatient/hospital coverage), since you likely had this cost deducted from your paycheck when you were working. But if you are hospitalized, you'll have to pay deductibles and coinsurance (the percentage of costs you pay after you've paid your deductible). Part B (doctor's visits) requires a premium, deducted from your Social Security checks, and you must pay an out-of-pocket deductible. After you meet this deductible for the year, you typically pay 20% of the Medicare-approved amount for most doctor's services. And when you enroll in Part D (prescription drug plan), you will likely also have to pay a monthly premium, an annual deductible and coinsur- ance or copays. To help pay for the Medicare deductible, coinsurance and copayments, you may want to get supplemental insurance, known as Medigap. Premiums for Medigap vary, depending on the plan you choose. As an alternative to original Medicare, you could select Medicare Advantage (sometimes called Part C). Medicare Advan- tage plans are offered by private companies approved by Medicare, but the benefits and costs vary by plan. These plans generally will incorporate Medicare Parts A and B and will provide additional medical coverage, such as prescription drugs. When you incorporate all the above, the annual out-of-pocket costs for traditional medical expenses likely will be about $4,500 to $6,500 per year, per person – not insignificant, but certainly a number that can be addressed by careful planning. But there's one more expense to keep in mind: long-term care. The average cost of a private room in a nursing home is more than $100,000 per year, according to the insurance company Genworth. And Medicare typically pays few of these expenses. Clearly, between regular medical costs associated with Medicare or those not covered by it, and costs resulting from the possible need for long-term care, your health care bills can mount. To meet these costs, you need to plan ahead – and take action. For example, it's essential that you incorporate health care expenses into your overall financial strategy. You can also work with a financial professional to run some "what-if" analyses to see if your strategy would be derailed by a potential long-term care stay. And the professional you work with may be able to suggest specific protec- tion vehicles that can help you meet the costs of long-term care. The best time to prepare for your health care costs during retirement is well before you retire. So, if you haven't already started, now is the time to do so. When it comes to paying for health care, the fewer surprises, the better. Marcus Trantham Financial Advisor 6144 Cumberland Gap Parkway Suite 3 Harrogate, TN 37752-7861 Bus. 423-869-3608 Fax 888-810-2732 marc.trantham@edwardjones.com www.edwardjones.com/marc-trantham This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation. Pre-Retirees: Plan Now Pre-Retirees: Plan Now for Health Care Costs for Health Care Costs ©SMTPUB INC 3227 U.S. 25E Tazewell, TN 37879 (423) 259-8277 And Many More Building Materials • Lumber • OSB • Plywood • Shiplap P R I C E S T H AT C A N ' T B E B E AT ! WE GOT IT! COME IN & LOOK AROUND! DISCOUNTS FOR BUNDLE QUANTITIES Marcus Trantham Financial Advisor 6144 Cumberland Gap Parkway Suite 3 Harrogate, TN 37752-7861 Bus. 423-869-3608 Fax 888-810-2732 marc.trantham@edwardjones.com www.edwardjones.com/marc-trantham APPALACHIAN APPALACHIAN AUTO REPAIR AUTO REPAIR APPALACHIAN AUTO REPAIR 520 Jarnigan Ave. 520 Jarnigan Ave. Morristown, TN Morristown, TN 423-587-2260 423-587-2260 520 Jarnigan Ave. Morristown, TN 423-587-2260 Brakes $89.99 Per Axle Alignment $44.99 Oil Change & Tire Rotation $34.99 © SMT Page 4 - The Smoky Mountain Trader - January 21 - January 27, 2021 www.thesmtrader.com

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