Medicare Options Turning 65
Are Your Turning 65 & Need Medicare Advice
As you approach the age of 65, you may be confused by the many Medicare options available. If you have private health insurance, you can delay enrolling in Medicare until you turn 65. If you are still working for a big company, you may want to drop your company option and opt for Medicare instead. Regardless of your choice, you should consider the pros and cons of each option. After all, you will be living on your own, and you will need to pay for your medical care unless you choose a plan that covers it. Chris Antrim Medicare Broker can help you with all your retirement and insurance needs.
If you are working, you can delay your enrollment until you are no longer employed. You can also delay enrollment in Medicare Part A and Part B until your employer-sponsored coverage ends. If you enroll in a Part D plan after your employer's coverage ends, you won't have to pay a late-enrollment penalty until Jan. 1. You will have to wait two or three months to sign up for the SEP.
Depending on your situation, you may have a choice between an employer-sponsored plan and Medicare. If your birthday falls on the first day of the month, you can choose to keep the plan, get a Medicare plus employer plan, or drop it and switch to a federally-sponsored plan. It's crucial that you understand the specifics and costs of each option before you begin your enrollment. You should contact your employer's benefits department to find out what your options are. It is important to act quickly, however, as there is a limited enrollment period. Once you've joined Medicare, you'll get a card and start receiving monthly premiums.
How To Enroll For Part A & Part B
You'll lose your REHP medical coverage if you decline to enroll in Medicare Part B. You can also enroll in a Medicare Part D prescription drug plan, but you won't have dental coverage. You'll have to pay a monthly premium for Medicare Part D if you decline the plan. You can also enroll in a Medigap policy to cover your copays and deductibles.
While you're still deciding which plans to join, you may want to consider your options. You can continue your group health plan if you're married to someone younger. If you don't, you can also opt to delay enrolling in Medicare Parts B and C. You'll need to wait until your spouse's 65th birthday before switching. But if you're considering a different option, remember to get a copy of the rules and regulations to see how they affect you. Call or email the office today for help. We work in Boise but can help you in the whole state of Idaho.
Initially, Medicare can be a daunting experience, but the benefits are well worth the trouble. With the right information, you'll be able to make the right decision. For many, turning 65 is a confusing time to enroll in Medicare. There are many factors to consider, so it's important to learn as much as you can before you make the big decision. It's important to understand all of the options available and how they will affect your quality of life.
In addition to your spouse's age, you should also consider the type of health insurance. You can continue your health insurance until your spouse reaches the age of 65, but you should look into the cost of it. A good plan will provide the best coverage for your needs and be affordable. You should also consider the types of plans available. If you're still working, you might be able to enroll in Medicare Part A and B for free. For more information please visit www.ssa.gov to enroll.
You can also opt to continue with your employer's health insurance. If you're still working, it's important to understand what the benefits are and how they will affect your family. If you're still working, you may be better off on the state insurance exchanges. You'll have to pay premiums for the plan, but this is still worth the benefits. If you're healthy, you can keep your employer's health insurance.
The best way to avoid having to pay for Medicare is to opt for an automatic enrollment option. You will have to sign up for the program before it kicks in. If you're a male, you'll have to pay an extra fee if you don't. The more money you have to spend, the more you will need to use the program. You'll also need to be sure that the plan will cover all of your needs.
