Have you updated your powers-of-attorney?

There are two different kinds of powers of attorney: financial and medical.  A financial power of attorney document allows an appointed person to make financial, while a medical power of attorney or a durable power of attorney for healthcare allows an agent (a trusted friend or family member) to make important and necessary healthcare decisions if the individual becomes incapacitated or unable to communicate or participate in care. Why is this important?  Medicare, by law, requires a beneficiary’s written permission to use or provide personal medical information so when needed; the representative is authorized to talk with Medicare, research and choose Medicare coverage, handle claims, even file an appeal.  There is one more authorization to address and that deals with the individual Medicare Advantage plan, Medicare Part D prescription drug plan or Medicare supplement. In Diane Omdahl’s article for Forbes.com, she explains the three important steps to establish or update your financial and medical powers-of-attorney. Read Ms. Omdahl’s article here…

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