Beyond the Basics: Smarter Strategies for Medicare and Healthcare Costs

The Virginia Mennonite Retirement Community Foundation hosted “Beyond the Basics: Smarter Strategies for Medicare and Healthcare Costs” in partnership with Everence Financial earlier this fall. This event was the second presentation created for residents, community members and donors. The first presentation provided a broad overview of the economy.

Steve Burkholder, financial planner with Everence, introduced the presenting team and described the organization’s services. Everence, with deep Anabaptist and Mennonite roots, offers financial planning, banking, insurance and Medicare guidance across an Atlantic region that spans from Pennsylvania to Florida. As a fraternal organization, Everence returns profits to its members rather than paying federal taxes.

Cassandra “Cassie” Zetts, a Certified Senior Advisor and Medicare specialist, provided an overview of Medicare Parts A and B, including their costs and coverage. She explained the two main ways to add coverage: keeping Original Medicare with a supplemental “Medigap” policy and a separate prescription plan, or choosing a private Medicare Advantage plan that combines services but requires networks and prior approvals. Cassie shared tips on enrollment periods, planning for health care expenses, and the pros and cons of each option, then answered questions about traveling, switching plans, and finding supplemental coverage for people with more complex medical needs.

Open enrollment runs now through December 7 and is the time to review or change Part D prescription plans or Medicare Advantage plans. Cassandra highlighted recent updates that affect all Medicare users. These include a $35 monthly cap on covered insulin, no copay for recommended vaccines, the removal of the old “donut hole” coverage gap, and an out-of-pocket maximum for prescription drugs that will drop again next year. She urged participants to read their annual notice of change, which details updates to premiums, deductibles, covered medications, and pharmacy networks.

Cassandra also warned about scams that have become common during open enrollment. Mail that looks official but lacks government logos or uses phrases like “limited time offer” is often fraudulent. She recommended double-checking suspicious letters or bringing them to someone you trust.

Next, Financial Representative Chan Gingerich described Virginia’s new “birthday rule.” Anyone with a Medicare supplement plan can now switch to another company offering the same plan during a 60-day window starting on their birthday, without health questions or underwriting. This gives people a chance to find a lower premium or better service while keeping the same coverage.

Steve Burkholder closed the session by shifting the conversation to long-term planning. He explained that while lifetime healthcare costs for a retired couple can look overwhelming when presented as a lump sum, it is more helpful to think of them as a steady annual expense. Medicare premiums and out-of-pocket costs are relatively predictable, making it easier to include them in a retirement budget. He encouraged attendees to review their coverage regularly, plan for gradual increases and keep in mind that Medicare doesn’t cover long-term care. 

Audience questions ranged from the difference between bill charges and Medicare’s approval amounts to difficulties in getting accurate estimates for medical procedures. The panelists reminded attendees that providers negotiate set rates with Medicare and that estimates can vary based on secondary insurance. The evening closed with another reminder: Everence’s third talk addresses year-end giving strategies with a tax-smart approach.  

Everence is a national company with a central office in Goshen, Indiana and regional offices in 12 states. For more information or personalized guidance, contact Everence’s Harrisonburg location at 540.437.7422. You can also see an Everence staff member at VMRC on Wednesdays from their office on Park Gable’s Main Street.