Turning 65?

Medicare can be confusing! Whether it’s knowing when to sign up, what plan to choose or the details of the various Medicare plans.

In this eBook I am going go over things that you should know as you turn 65 and become eligible for Medicare.

Let me start off by saying congratulations! You have accomplished a great milestone in life. Now that you are turning 65 you have some decision to make.

Some of the most common questions typically asked are

• Do I sign up for Medicare if I am still working and have insurance through my job?
• Do I need a Medicare supplement plan?
• If I am covered by any of these programs, do I still qualify for benefits?
  • Veteran Benefits
  • Federal Employee Retirement Benefits
  • Military Retiree Benefits (Tricare)

Do I sign up for Medicare if I am still working and have insurance through my employer?

Generally, if you have health insurance through your employer and your company employs 20 or more individuals, then you don't have to enroll in Medicare upon turning 65. However, since Medicare Part A is free for most people, it pays to enroll in it as soon as you're eligible, even if you have existing health coverage through your employer.

If your employer has fewer than 20 employees, you should enroll in Medicare Part B when you are first eligible. Here are some additional things to consider.

 o  Do I currently have a high deductible health insurance plan?

 o  Am I the only one covered or do I carry coverage all for my family?

 o  Is my monthly premium greater than the Medicare Part B premium?

 o  Do I have “creditable” drug coverage that is as good as Medicare’s basic drug benefit?

Do I need a Medicare supplement plan?

A Medicare Supplement Insurance (known as Medigap) policy helps pay some of the health care costs that Original Medicare doesn't cover, like:

• Co-payments
• Coinsurance
• Deductibles

 Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing. Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).

 If I am covered by any of these, do I still qualify for benefits?

 If you are cover by other benefits programs such as Veteran Benefits, Federal Employee Retirement Benefits, or Military Retiree Benefits (Tricare) it will almost be to your advantage to keep your current coverage without any changes. However, if you have limited income and resources, you may qualify for extra help from Medicare.

For a free consultation call us at 832-463-0289.