the best Medicare Advantage Plan or Medicare Supplement to fit their situation!
the best Medicare Advantage Plan or Medicare Supplement to fit their situation!
* Surveys report incorrect information is some times received calling SS's main 800 # !
SS develops the eligibility and & sign up regulations for MediCare and processes all applications. Their regulations, I call them "rules", say: You decide when to sign up. Individuals:
-> Become "eligible" the month when 65.
-> You can find the specific sign up periods on this page.
There are two exceptions to the eligible at 65 rules:
-> A person who signed up for SS benefits before 65 will be automatically enrolled the month eligible. [They can opt out of Part B if working.]
-> Someone who qualified for SS disability become eligible and is signed up after 24 months!
-> completing your application for Part A & B.
-> options to pay your share of Part B's monthly cost.
Note (1): The base share in 2021 is $148.80 which is 25% of MediCare's per person cost..
Note (2): Your share is higher if the AGI on your IRS 1040 [two years ago] is above 88k for Single & $176 for Joint. There are five AGI based levels above this with a higher monthly cost for each!
-> the charts SS has to help you select a good age to start receiving SS benefits. Ask if they can create and mail one or can you get them online?.
An online sign up option: There are many advantages to a back and forth conversation with a Retirement person at the Local office. However, if it is better for you, SS has a way to sign up on line. Scroll down on this SS site to the Section – How to apply just for MediCare. Select the Blue Button.
[I do not recommend this when leaving an employer plan after 65.] — Call if any questions on this .
Note: When the application is complete - MediCare calls you "entitled" [not enrolled ]. Entitled is the date your medical treatment coverage started for:
-> Part A — inpatient care in a hospital.
-> Part B — medically necessary outpatient services.
Note: Entitled is on your MediCare ID card above Part A & B! Pic of the ID card on this page and the info explaining the new style.
Many say yes to both questions! A survey of those over 65 found:
- > 29% do not understand Medicare Advantage Plans
- > 23% do not understand Medicare Supplements & only 48% said enrollment was easy.
The next Tip — call John C Parker's Google Voice (860) 451-9793. We can talk about your situation / interest and simplify for you:
● how MediCare works & how to sign up,
To find the best option for your situation we will also review the two kinds of Medicare Health Plans and the options available in SE CT.
You can sign up at any time when you work after 65 using a Special Enrollment Period (SEP).
Key — to be eligible for this SEP you have to be covered by your employers medical plan - or were within 63 days!
Another Tip: Call the Local SS office — ask to talk to — or for a time to call a Retirement person. When you talk tell them when you plan to leave employer coverage and want to:
● Apply for Part B. .
-> FYI. They will also activate Part A but it will be backdated six months from your Part B date.
● Discuss ways to pay your monthly cost for Part B [$148.80 in 2021 ] :
-> it's deducted from SS if you are or will be receiving benefits.
● To qualify for the SEP you need to get the CMS-L564 form completed by your employer to show the dates you were covered.. Ask if they can:
-> eMail it to you.
● You can also get the CMS-L564 on this link – scroll down to the Section - Already enrolled in Medicare. You will see a link to CMS-L564 and one in the second paragraph to CMS-40B which is the application form for Part B,
Returning CMS-L564 to SS:
-> approves the SEP to sign up for Part B the date you want.
-> shows you had coverage thus avoiding B's late enrollment penalty.
BTW — You can't just sign up for Part B when you want! <—> Federal regulations limit sign up times when past 65 to these periods.
MediCare does not pay MDs or other providers 100% of the approved amount for the outpatient services they provide!
Lets look at this! — MediCare's system:
● Reviews all medical treatments and services and "assigns" ** an approved amount for each.
● Asks MDs and others, who agreed to participate, to accept just 80% of the approved amount when they submit treatment invoices. Thus, providers are asked to accept "assignment".
** Discounted, often deeply, from retail!
Let's look at what you pay going for — any:
● Outpatient treatments or services: Using Part B means you pay 20% of the amount MediCare's approved! Then too, at the beginning of each year you also pay Part B' deductible — $203 in 2021.
Bottom line — so many medical treatment and services are done today as outpatient so this could quickly be a Big Risk to your income & savings!
● In hospital treatment: When admitted Part A's coverage is very extensive and MediCare pays all medically necessary treatments / services — but you are responsible to pay Part A's $1,484 deductible in 2021 each time admitted.
Buy a special kind of insurance I like to call — Medicare Health Plans! When you buy — it"s like you put up an umbrella over your income & savings!
Note: If you don't buy — bills will come like a rain storm!
The name in red is a link to a page with information on how each of these "risk protection" plans work when you have expenses following medical treatment / services:
● Medicare Advantage Plan in New London CT or a
● Medicare Supplement in CT
Each has options to meet your situation / interest / budget.
A key point when you are thinking about buying a Medicare Health Plan — Beware of TV ads!
One says - Call Today - get better coverage! Why?
● You can't sign up for a Medicare Advantage plan when you want. Times are limited to certain federal enrollment periods!
● Many "new benefits" mentioned are only available if a person's income is low and they are also eligible for MedicAid.
Another says - Buy a Medicare Supplement [ a Medigap ] But:
● The plan being advertised is not approved in CT!
● No one can say an accident won't happen!
● The possibility of an illness with complex treatment is high, which means = significant costs!
Bottom line because of what may happen in any ones life it important for you to — buy either a:
-> Medicare Advantage (MA) Plan approved for New London County
-> Medicare Supplement approved in Connecticut
Owning either option + + protects your income & savings from big expenses + + puts you in control + + provides peace of mind :
Note: When you sign up for a Medicare Health Plan it can be changed once a year and a Med. Supp. can be changed at any time!
Whether you'll soon be 65 — or planning to leave an employer plan after working past 65 call/text John C Parker's Google Voice today (860) 451-9793) and I can — perhaps with multiple calls & eMail :
● Review what's best for your situation / interest / budget,
● Increase understanding not just to review plan details.
Note: Whatever time you need will be available to help you.
BTW — taking time to talk = a more informed decision and it's also OK to say — now is not the right time!
> I am told this is a big Help!
You can also send questions to me about signing up for a Medicare Advantage Plan or a Medicare Supplement:
● Using the form below or
● To — Learn@JohnCParker.agency
