Soon be 65? The Social Security system does not automatically enroll individuals in MediCARE when they turn 65.
Suggest calling the local Social Security office to meet with a retirement person. Going to a local office is best. There are many reports of errors when the 800# was called.
MediCARE's Part B pays 80% of the amount approved for physician and outpatient procedures! Thus, to cover part or all of your 20% its important to buy one of the two types of Medicare plans.
A couple months before you are 65 lets meet to simplify the complexities of MediCARE's Part A and Part B. [no cost to you] Call my Google Voice # today - (860) 451-9793 to set up a time to talk. You can also send a Text:
The first: A Medicare Supplement in Connecticut. You can receive medical treatment from any provider in any state that accepts MediCARE's payment. Some points on what are often called MediGap plans:
- Supplement A covers the least amount. Supplement B, C, etc. have more. Coverage in any Supplement option is the same no matter what private company you select. However, there can be considerable variation in monthly cost from one company to another.
- Plan N is an effective option. You pay Part B's deductible, which is $147 in 2015 and $166 in 2016 and a $20 co-pay for office visits. There is a $50 co-pay for emergency room visits. Thus, its monthly cost is lower than for a full coverage Plan F.
- 9 out of 10 people are happy with their Medicare Supplements.
What about prescriptions? MediCARE's Part A, or Part B, or a Supplement do not cover outpatient prescription medications. Thus, a Medicare Prescription Drug Plan (PDP) is available to help pay for medications you receive at the pharmacy. A PDP is MediCARE's Part D. Enrolling when you sign up for Medicare, even if you currently do not take any medications, is important. Why? A penalty is applied unless you have credible prescription coverage such as through an employer plan.
The second: A Medicare Advantage (MA) plan. Some points on Medicare Advantage in Connecticut plans, which are also available from private insurance companies:
- A MA plan is MediCARE's Part C and individuals receive at least the same or more benefits then in original MediCARE.
- You can receive an annual physical and more extensive preventive care then in original MediCARE.
- You pay various co-pays or cost sharing when you receive medical treatment through the companies network of providers. The amount of your overall cost sharing during the plan year is limited by the plan's Maximum Out of Pocket (MOP) provision.
- MA companies have a yearly contract with MediCARE and receive a fixed monthly payment from MediCARE for each person who enrolls. Most MA plans include coverage for Part D prescription expenses, which makes them a MAPD plan.
- MAPD plans are of interest to many since the monthly cost is usually more economical than a MediGap plan plus a Part D plan.
Another way to lower your monthly cost and reduce your cost sharing on treatment expenses is to select the High Deductible Medicare Supplement ($2,180 in 2015). Together with a Part D plan for medications your cost would be lower than some MAPD plans.
Note: Surveys of people close to 65 tell us more than 50% are confused about Medicare and only about 10% understand Medicare's Part C!
I would like to - Ask you to call my Google Voice # today - (860) 451-9793. We can have a, no cost to you, discussion to discuss your interests, simplify any confusing parts, and:
- Review the specifics on a Medicare Supplement in Connecticut or Medicare Advantage in Connecticut plan, help you select the best type for your situation, and the value you gain.
Under 65 and Interested in coverage for a short time?
Short Term Medical (STM) plans are economical but are not qualified health reform plans. They also do not cover any pre existing conditions. What do they do? Cover unexpected medical situations for a short period. For example:
- When a new employer plan is not effective for a couple months?
You can view various STM options and costs on the Parker Agency site of 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