Soon be 65? The Social Security (SS) system no longer automatically enrolls individuals in MediCare. Want to enroll at 65? Call the local SS office for a time to meet with a retirement person.
[Can also sign up any time after 65- if working.]
Note: Surveys report errors when SS's 800# was called!
When you call the Local office they may want to handle your enrollment while you are on the phone. However, you can ask for an in person appointment. Indicate you want to meet with someone to discuss and understand your options to pay for Part B.
More than 50% of people close to 65 are confused about MediCare! Call my Google Voice # today — (860) 451-9793 — to increase understanding and eliminate confusion. No cost to you to meet and simplify MediCare. The focus will be to make selecting coverage less stressful. You can also send a Text.
A quick look at MediCare Part B:
80% of the amount MediCare approved is paid to the provider for each outpatient service! Thus, its important, since so much treatment is outpatient today, to buy one of these two types of Medicare Health Plans to cover your 20% share.
First: A Medicare Supplement: You can receive medical treatment from any provider, if they accept MediCare's payment and in any state.
Note: Supplements, which are purchased from a private company are often called MediGap plans. Some points:
- Supplements have "lettered' names. A has the least coverage. B, C, etc. have more. Coverage in any companies plan, with the same letter, is the same however, their monthly cost can vary considerably.
- Supplement N's cost can be over $100 a month lower than one companies full coverage F. Why? Because the person who enrolls pays Part B's deductible each year [$188 in 2017], a $20 co-pay for any 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? Outpatient prescription medications are not covered by MediCare's Part A or Part B. Nor by Supplement Plans. Thus, to cover part of your medications you can buy a MediCare Prescription Drug Plan (PDP). A PDP is MediCare's Part D. Enrolling is not optional even if you don't take any medications. Why? A penalty is applied for each month after 65 unless you have credible prescription coverage such as through an employer plan.
Second: A Medicare Advantage (MA) plan is MediCare's Part C. Some points about MA plans, which are purchased from private companies:
- They are available based on the County where you live. MA coverage includes a full physical each year, more no cost to you preventive care, and at least the same benefits as original MediCare so are of interest to many.
- Coverage is received through the companies network of providers and you pay a co-pay or cost sharing for different types of medical treatment. Your cost sharing over the year is capped by the plan's Maximum Out of Pocket (MOP) provision.
- Companies, which offer MA plans, have a yearly contract with MediCare and are paid a fixed monthly payment for each person who enrolls. Individuals also pay the company a monthly cost, which varies, based on the level of co-pays, cost sharing, and the plan's MOP.
- Most MA plans include a Part D plan for prescription expenses and are then a MAPD plan. They are often more economical than a MediGap plan plus a Part D plan.
Selecting a Medicare Supplement High Deductible plan. ($2,200 in 2017) is another way to lower the cost of your 20% risk protection. This plans lower monthly cost and limited cost sharing together with a separate Part D plan results in a lower overall cost over the year than with a MAPD plan. This Supplement is only available in CT from a few companies.
Call my Google Voice # today or send a Text — (860) 451-9793 — for a no cost to you discussion to take away the stress and confusing parts, and:
- Review the value of a Medicare Supplement in Connecticut or Medicare Advantage in Connecticut plan.
- Understand your situation, interest, and budget and help you select the best option.
Call my Google Voice # today or send a Text — (860) 451-9793 — to set up a time to talk.
Under 65 and Interested in coverage for a short time?
Short Term Medical (STM) plans are economical since they do not meet the requirements of a qualified health reform plan. They also do not cover any pre existing conditions. What can they do?
- Provide coverage for any unexpected medical situations during the couple months before a new employer plan begins.
You can view STM plans 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