the best Medicare Advantage Plan or Medicare Supplement for their situation & budget!
the best Medicare Advantage Plan or Medicare Supplement for their situation & budget!
* Surveys report Individuals received incorrect information when calling SS's main 800 # !
How SS works! They are responsible to develop eligibility & how/when to sign up regulations for MediCare and to processes all applications. I call these regulations "rules". They state: You decide when to sign up.
The rules indicate Individuals:
-> Become "eligible" the month when 65.
-> Have specific periods to sign up, which are on this page.
There are two exceptions to the eligible at 65 rules:
-> A person who started SS benefits before 65 will be automatically enrolled the first of their eligible month. [They can opt out of Part B if working.]
-> Someone who qualified for SS disability becomes eligible and can sign up for Part B after 24 months!
-> completing your application for Part A & B.
-> options to pay your share of Part B's monthly cost.
Note (1): You pay 25% of MediCare's per person cost for Part B, which is $148.80 in 2021.
Note (2): Your share is higher than this base 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 the base level with a higher monthly cost for each!
-> the charts SS has to help you select a good age for your situation to start receiving SS benefits. Ask if they can create and mail one or how you can get them online?.
There are many advantages to talking with a SS Retirement person and the back and forth conversation. However, if it is better for you, there is a way to sign up on line. On this SS page scroll down to the Section – How to apply just for MediCare then — select the Blue Button.
[I do not recommend on line sign up 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 ] for:
-> Part A — inpatient care in a hospital.
-> Part B — medically necessary outpatient services.
Note: Entitled is on your MediCare ID card to show the date your medical coverage started. It's above Part A & B! See this ID card pic. The page also has 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 at (860) 451-9793. [Google Voice #] We can talk about your situation / interest and simplify for you:
● how MediCare works & when to sign up,
To find the best option for your situation we will review the two kinds of Medicare Health Plans available in SE CT.
When you work after 65 you can sign up at anytime using MediCare's Special Enrollment Period (SEP).
Key — to be eligible for this SEP you have to be covered by your employers medical plan - or were within past 63 days!
Another Tip: Call the Local SS office — ask to talk to — a Retirement person or a time to call. When you talk tell them the date 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 the options 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 this SEP you need to get a CMS-L564 form completed by your employer. It shows the dates you were covered.. Ask if they can:
-> eMail it to you.
● You can also find the CMS-L564 on this link – scroll down until you see a link to CMS-L564 and below it a link to CMS-40B which is the application form for Part B,
When the CMS-L564 is signed and returned to SS it:
-> approves your SEP for the Part B the date you want.
-> shows you had coverage thus avoiding B's late enrollment penalty.
BTW — When you don't have employer medical coverage 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 outpatient providers 100% of the approved amount for the services they provide!
Let's look at how the MediCare's system works — It:
● Reviews all medical treatments and services and "assigns" ** an approved amount for each.
● Asks MDs and other outpatient providers, who agreed to participate, to accept just 80% of the approved amount. Thus, providers have to accept "assignment".
** Discounted, often deeply, from retail!
This means when going for — any:
● Outpatient treatments or services you pay 20% of the amount MediCare's approved! You also pay, at the beginning of each year, Part B' deductible — It's $203 in 2021.
Bottom line — so many medical treatment and services are outpatient today so paying 20% 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 — You are just responsible to pay Part A's deductible each time admitted. It's $1,484 in 2021.
Buy a special kind of insurance I like to call — Medicare Health Plans! Taking action to buy is like — putting up an umbrella over your income & savings!
Note: If you don't buy — bills will come like a rain storm!
These two red links have information on how the plans provided "risk protection" when you have 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!
They ask - Call Today - get better coverage! But:
● You can't sign up for a Medicare Advantage plan when you want. Sign up is limited to certain federal enrollment periods!
● The "new benefits" mentioned are only available for individuals with low income who are also eligible for MedicAid.
Another ad says - Buy their [ Medigap plan ] a Medicare Supplement! But:
● This companies plan is not approved in CT!
However, in every life we know:
● 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) — In perhaps multiple calls & eMail we can:
● 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
