If you are covered by Medicare, it's time to compare your current coverage with other available options. Medicare's Open Enrollment period began on October 15 and runs through December 7. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or your budget.

You’ve accepted a job offer and are on your way to starting your career. Chances are your new workplace offers a variety of benefits to their employees. But which options are right for you? In this first episode in our series of next generation podcasts, Matthew Sorce, CFP®, Assistant Vice President, Wealth Advisor joins Dario Saccente, Wealth Associate, CNB Wealth Management to answer common questions new employees have about prioritizing benefits, contributing to HSAs, choosing a 401(k) plan, and more. Tune in to learn what you need to know to take full advantage of your employer-sponsored benefits.

Medicare begins the month you turn 65, or after being on disability for 2 years. Some people who are working can delay Medicare. If you are turning 65, Medicare becomes effective the first day of your birth month; if you turn 65 on the 1st of the month, it starts the month prior. If you are collecting Social Security, you will be automatically enrolled. If not, you have 7 months to apply: 3 months before your birthday, your birthday month or the 3 months following.

The experts of this show featured Nancy E. Bowes, CFP®, Vice President, Wealth Advisor, and Tina Scahill of Ahrens Benefits Company.

Whether you are early in your career or have started a family, as a member of the next generation of investors you face your own set of unique needs. Below are key tips to ensure you are off to a financially healthy 2022!

The Government provides healthcare benefits in retirement using three federal programs administered by the state and local counties: (1) Medicare, (2) Medicaid, and (3) VA Benefits. Medicare eligibility is generally automatic at age 65. Medicaid is based on financial need, it is not automatic at any age. In addition to these two programs, you may also be entitled to military healthcare benefits if you or your spouse is a veteran or retired service member. The majority of seniors utilize services provided under Medicare.

Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you. The experts of this show featured Denise Kelly-Dohse, CFP® Vice President, Wealth Advisor, and Nancy Skelton, Manager, T65 & Beyond.

Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.  The experts of this show featured CNB’s Margaret Whelehan, Vice President – Personal Banking Insurance Agency Manager

Here in Rochester, Lifespan and St. John Fisher College offer a non-credit certificate program in gerontology with the goal of producing professionals who truly understand and respect older adults. As a student in the program, it is my mission to dispel the myths of getting old.

Medicare can be very complicated. You understand that something happens/must be done when you reach your 65th birthday. There are many rules that may or may not apply to you if you are retired, still working, covered by an employer plan, covered by spouse’s employer plan. The size of your company will also make a difference.

In this issue: Do You Have the Right Medicare Coverage?, Social Security: When is the best time to start collecting?, and Life Insurance Options Later in Life.

You may have heard that Medicare will be costing you a lot more in 2016, with premiums increasing perhaps over 50%. Rest assured that is not the case. In fact, it’s quite likely you will pay the same as you did in 2015.

Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over how you spend your healthcare dollars? If so, you may be interested in a Health Savings Account (HSA).

With all the talk of health care reform in the media and health care premiums on the rise, employers need effective solutions to lower expenses while being able to continue to offer attractive benefit plans to their employees.  One alternative to consider this open enrollment period is adding an HSA compatible (high-deductible) plan to your health care plan offerings. Effective communication of employee benefits is important in assisting employees in making informed health care decisions.  A few things to think of regarding your benefits meetings this open enrollment period are:

The final quarter of the year is the time when many employers typically offer open enrollment.  This selection period gives employees the opportunity to make their benefit elections for the following year.  But mistakes can be costly.  So if it’s open enrollment time where you work, pay close attention to your benefit choices and review them for coverage changes or increases in premiums.  If your employer’s coverage doesn’t meet your needs, your financial professional may be able to help you fill in the gaps.