Even for seniors on Medicare, out-of-pocket medical costs are becoming increasingly difficult to manage. During the last five years of life, most seniors pay an average of $39,000 for out-of-pocket medical costs. This figure soars to $101,791 for those seniors with the highest medical expenditures. Even for an average, relatively healthy 65-year-old couple, Boston College’s Center for Retirement Research reports that out-of-pocket expenses will still total $197,000. With such high costs, how can the average person afford long-term care?

Joshua Greenberg, Chairman and President of HealthCPA, offers some tips to reduce out-of-pocket expenses. First, look for in-network providers. By billing you at a reduced rate, in-network providers can save you a lot of money.

For the nearly 50 million Americans on Medicare, the recent talk about the struggles and uncertainty the program is facing hit very close to home. And in this election year, Medicare has become a hot-button issue that has both sides of the aisle lobbing accusations to the other. Here are a few tips for voters to sort the wheat from the chafe when it comes to changes in Medicare – click to read the full article: “5 Things Voters Need to Know About Medicare.”

- Medicare is definitely headed toward insolvency. It’s a $550 billion dollar program, making it the third-highest government expense. With the rapid influx of baby boomers into the system, costs are simply skyrocketing. At its current growth rate, Medicare could easily bankrupt the US government, meaning something will need to change in order for that not to happen.