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Insurance
Senior Health Insurance Program (SHIP) Counseling
This program is provided through the Illinois Department on Aging, and provides health insurance counseling for Medicare beneficiaries and their caregivers. The website has a lot of information about Medicare, including webinars, but for one-on-one counseling McLean County is served by:
Community Care Systems, Inc. – Bloomington 3601 General Electric Road #2 Bloomington, IL 61704 Phone: (309) 661-6400
East Central Illinois Area Agency on Aging 1003 Maple Hill Road Bloomington, IL 61704 Phone: (309) 829-2065
ARC – Activity and Recreation Center 600 E. Willow Street Normal, IL 61761 Phone: (309) 888-9099
ACA Marketplace
This website is for those who wish to purchase health insurance through the Affordable Care Act.
Prescription Costs and Social Security
Medicare beneficiaries can qualify for Extra Help paying for their monthly premiums, annual deductibles, and co-payments related to Medicare Part D (prescription drug coverage).
Senior Medical Patrol – Read Your Medicare Statements
This website explains the two primary types of benefit statements and how to read them.
Taxes
Bloomington-Normal Free Tax Services
During tax season, this organization provides help with preparing tax returns at three locations: Bloomington Housing Authority, Heartland Community College and Normal Activity & Recreation Center (ARC). Hours and location are listed on website along with what you need to bring.
AARP
Tax-Aide provides in-person and virtual tax assistance free of a charge with a special focus on taxpayers who are over 50 or have low-to-moderate income. The website has a Tax-Aide Site Locator Tool that is only functional during tax season.
Property Tax Relief
This website provides tax information for McLean County residents on Senior Citizen Exemption, Senior Assessment Freeze Exemption, and Senior Citizen Tax Deferral Program.
Other Helpful Resources
The Institute for Financial Education
807 East Washington Street Bloomington, IL 61701 Phone: 1-800-999-2371 Email: info@ifeonline.org
This organization provides free educational resources to the public. They provide informational workshops to individuals, companies, and organizations on a variety of financial topics. Their website lists upcoming online webinars. Below are links to past webinar recordings.
Taxes 101 | Intro to Marginal Rates | Tax Changes on the Horizon | Levels of Taxation | Estate Taxes
Claiming Strategies to Maximize Income | Coordinating Benefits with Other Assets | Minimizing Lifetime Taxation on Benefits | Creating a Tax-Efficient Retirement Income Plan
IRA, 401K, 403B, 457: What’s the Difference? | Roth vs. Traditional | How to Access Money Before Age 59 | Estate Planning with IRAs
Mitigating the Cost of Long Term Care
The LTC Crisis in America Today | Three Types of LTC Protection: Traditional, Hybrid, and Asset Based | Other Options for LTC | Medicaid and How It Works
Term vs. Permanent – Pros and Cons | More Than “Just a Death Benefit” | Utilizing Insurance to Save Significant Taxes | Living Benefits | Access Money for Every Day Expenses | Life Insurance and Long-Term Care (LTC)
Consumer Financial Protection Bureau
Educational site, with many money topics including resources to help you avoid scams. Also has an updated list of current scams making the rounds.
Plan Your Life Span
This website will help you plan for health events such as hospitalizations, falls, and memory loss that may happen as people get older. This planning differs from end of life care and wills.
How to Pay for Assisted Living
Assisted living may be an excellent option for you or a loved one. You may have chosen this senior housing option to maintain your independence and boost your social life, while getting some daily help with tasks. But how will you pay for assisted living?
Illinois Extension
Planning for and managing long-term care in the areas of housing, family dynamics, caregiving and financing.