Soon be 65? The Social Security (SS) system no longer automatically enrolls individuals in MediCare at 65. If you want to enroll it is best to call the local Social Security office to meet with a retirement person. Surveys report errors when the SS 800# was called.
Note: When you call the Local office they may want to handle your enrollment over the phone. However, you can ask for an in person appointment. Indicate you want to discuss and select an option to pay your share of Part B.
Surveys of people close to 65 report more than 50% are confused about MediCare. Thus, lets meet for a no cost discussion to simplify MediCare's complexities. Call my Google Voice # today - (860) 451-9793 to set up a time to meet. You can also send a Text.
A quick look at MediCare Part B:
80% of the amount MediCare approved for a procedure is paid for physician and outpatient treatment! Since so much treatment is outpatient today its important to enroll in a MediCare Health Plan to cover your 20% with a Medicare Health Plan.
First: A Medicare Supplement: Selecting this option means you can receive medical treatment from any provider in any state, that accepts MediCare's payment.
Note: Supplements are purchased from a private company and often called MediGap plans. Some points:
- Supplement A has the least amount of coverage. B, C, etc. have more. The coverage will be the same however, the companies monthly cost can vary considerably.
- Supplement N's monthly cost can be over $100 lower than full coverage F simply because you pay Part B's annual deductible, which will be $188 in 2017, a $20 co-pay for office visits, and a $50 co-pay if any emergency room visits.
- 9 out of 10 people are happy with their Medicare Supplements.
What about prescriptions? MediCare's Part A, or Part B do not cover outpatient prescription medications nor do any Supplement Plans. Thus, by enrolling in a MediCare Prescription Drug Plan (PDP) you can get help paying for the medications you receive. A PDP is MediCare's Part D. Enrolling is important even if you currently do not take any medications. Why? A penalty is applied unless you had, prior to enrolling, credible prescription coverage such as through an employer plan.
Second: A Medicare Advantage (MA) plan, which is purchased from a private company and it's MediCare's Part C. Some points on Medicare Advantage in Connecticut:
- They provide at least the same or more benefits as original MediCare.
- You pay a co-pay or cost sharing when you receive medical treatment through the plan's network of providers. MA plans provide more no cost preventive care, such as full annual physicals, and are interest to many.
- Your annual cost sharing is limited by the plan's Maximum Out of Pocket (MOP) provision.
- MA plan companies have a yearly contract with MediCare and are paid a fixed monthly payment for each person who enrolls. You pay the company a monthly cost, which varies, based on the coverage and the plan's MOP.
- Most MA plans include a Part D plan for prescription expenses, which makes them a MAPD plan.
- MA plans are often more economical than a MediGap plan plus a Part D plan.
Another way to lower the monthly cost is to select the Medicare Supplement High Deductible plan. ($2,200 in 2017) Together with a Part D plan your cost would be lower than some MAPD plans. This Supplement is available in Connecticut from a few companies.
Call my Google Voice # today or send a Text - (860) 451-9793. We can discuss your interests, simplify any confusing parts, and at no cost to you:
- Review the value of a Medicare Supplement in Connecticut or Medicare Advantage in Connecticut plan.
- Help you select the best option for your situation.
Call my Google Voice # today - (860) 451-9793 to set up a time to meet and talk. You can also send a Text.
Under 65 and Interested in coverage for a short time?
Short Term Medical (STM) plans are economical but do no meet the requirements of a qualified health reform plan. They also do not cover any pre existing conditions. What do they do? For example:
- When a new employer plan is not effective for a couple months they can cover any unexpected medical situations?
You can view STM options and costs on the Parker Agency page on HCC Medical Insurance Services. HCC is rated A+ (Superior) by A.M. Best.
You can look here for network providers.
Questions on short term plans? Send a note to - John@Parker.agency