Helping individuals in SE CT simplify
Medicare Advantage Plans & Medicare Supplements to make selection easier!
Helping individuals in SE CT simplify
Medicare Advantage Plans & Medicare Supplements to make selection easier!
Pleased to share — factual information — about MediCare!
Going to be 65 soon — Sign up is not automatic! If YOU decide to sign up at 65 — contact the Local Social Security (SS) office *. — Suggest two months before!
Rules say:
-> Medicare considers you "eligible" the month when 65. If you do coverage begins the 1st day of that month.
-> Note: SS is responsible to process MediCare applications
BTW - a person who decided to start SS benefits early and someone on SS disability will be automatically signed up the month eligible!
* Why call the Local Office? - Surveys report incorrect information was sometimes received calling the main SS 800 #
● First step - Call the Local SS office and ask for a time to speak with a
Retirement person and ask about:
-> completing the Part A & B application,
-> options to pay your 25% share of Part B's $144.60 monthly cost.
Note: Part B's cost is higher if the AGI on your IRS 1040 [two years ago] was above 87 k for Single & 174 k for Joint. There are five income based levels above this!
-> mailing you the charts they create to help decide when to start receiving SS benefits.
When sign up is complete - MediCare considers you [ "entitled" [not enrolled] ] and have medical treatment coverage with:
-> Part A — inpatient care in a hospital.
-> Part B — medically necessary outpatient services.
Note: Entitled is printed on the MediCare ID card above Part A & B - see this picture. This page about the ID card also explains the new style.
You start to receive, a few months before 65, many Medicare Health Plan brochures in the mail! <—> Are they confusing? <—> Was it hard looking online for how to sign up & for info on plans in Southeastern CT?
Many say yes to both of these!
To simplify all this — call John C Parker's Google Voice (860) 451-9793 . We can talk about your situation / interest and:
● how MediCare works,
● the two kinds of Medicare Health Plans available in SE CT,
OK — you worked past 65 — What to do?
When working after 65 SS rules say you are eligible for a Special Enrollment Period (SEP) at any time. Key — IF you were covered by your employers medical plan!
First: Call the Local SS office and ask to talk to or for a time to call a retirement person. When you talk tell them the date you plan to leave employer coverage and want to:
● Apply for Part B. .
-> Applying also activates Part A which is backdated six months from your date for Part B.
● Discuss options to pay your share of Part B's monthly cost [S144.60 in 2020 ] :
-> it's deducted from SS if receiving benefits.
● If not receiving SS ask for Form CMS-L564 to be eMailed to you. Your employer fills in dates you had medical coverage and signs. Returning this form:
-> approves the SEP to sign up for Part B the date you want.
-> shows you had coverage thus avoiding B's late enrollment penalty.
Note: On May 28, 2020 SS & MediCare announced a new way to sign up for Part B online. Info on what to do .
BTW — You can't just sign up when you want! <—> Federal regulations limit Part B sign up times when past 65 to these periods.
OK! Sign up is complete and you're "entitled" to ● Part A — for hospitalization ● Part B — for all outpatient treatment. How does basic MediCare pay medical treatment costs?
MediCare does not pay your MDs or other outpatient providers 100% of the cost of their services! Why?
Background — The MediCare's system works this way — it:
● Reviews medical treatment and services and "assigns" ** the amount to pay for each.
● Asks MDs and others, who agreed to participate, to accept " just 80% of the approved amount. Thus, providers have to accept "assignment".
* Discounted, often deeply, from retail!
When you have any:
● Outpatient treatments or services available today [there are many] you are responsible for 20% of each! You also pay Part B's $198 deductible.
Bottom line — this could quickly be a Big Risk to income & savings!
● In hospital treatment — MediCare covers all medically necessary treatments / services - but you pay Part A's $1,408 deductible for 2020!
OK! MediCare only pays 80% for outpatient treatments — what can be done about this Big Risk to your finances?
Buy a special kind of insurance I like to call — Medicare Health Plans!
One way to think about what happens when you buy a — Medicare Health Plans! It's like you put an umbrella up over your income & savings!
Note: No coverage — bills will come like a rain storm!
The names in red are links to information on how these two "risk protection" plans work with MediCare's system and pay medical expenses for your 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 — Beware of TV ads saying - Call Today - get better coverage!
● Why? You can't sign up for a Medicare Advantage plan when you want. The times are limited to the federal enrollment periods!
Do I really need a "Medicare Health Plan"?
Some think — my health won't change! However, when looking at life we know:
● No one can say an accident won't happen!
● The possibility of an illness with on going treatment = significant costs!
Bottom line — owning either of these plans — protects your income and savings — puts you in control — provides peace of mind :
> Medicare Advantage Plans approved for New London County
> Medicare Supplement approved in Connecticut
Whether you'll soon be 65 or are leaving an employer plan after working past 65 call/text John C Parker's Google Voice today (860) 451-9793).
● Whatever time you need will be available - perhaps multiple calls - to review what's best for your situation / interest / budget,
● Discussion in a call will be to increase understanding not just to review plan details.
BTW talking = 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 on signing up for a Medicare Advantage Plan or a Medicare Supplement:
● Using the form below or
● To — Learn@JohnCParker.agency
