Community Chat

[pattypeep]

@gellen  My dh and I both just went through this. We went on line, looked it up, got the forms that we needed, went to our SS office and were in and out in one hour. Easy. We also enrolled in United Health Care as a medicare supplement. We met with a rep. for that part and he took care of everything. It's not as hard to navigate as people believe. Don't let a gap go between losing your employer's insurance and getting part B. There may be a penalty if you do. Good luck to you.

[ItsME]

@gellen   I just turned 65, and I also have a license to sell insurance, although I don't sell much.  It's not my career.  A couple people here have already given you some good basics.  Yes, go to the social security office to talk to them about Part B.  Mine costs $135/month.  Next, I would recommend a SUPPLEMENT rather than an Advantage Plan to cover the 20% not covered by Part B.  

Advantage Plans are run by insurance companies.  They will have networks, copays, and/or deductibles.  Many only have providers in your immediate area.  They can also change or discontinue the plans.  The PRO is that they are usually inexpensive.  But, if you actually use them, the copays and deductibles will add up.  They also might not cover what you need.  

I knew someone years ago, whose father had an Advantage Plan. Shortly after selecting it, he was diagnosed VERY EARLY with pancreatic cancer.  Because it was so early, there was hope, but he needed surgery out of state.  His Advantage Plan wouldn't cover it.  He got lucky... he was within the initial 6 months of eligibility, and was therefore able to change his mind and switch to a SUPPLEMENT, which covered what he needed.  Once you are outside of that initial 6 month period, you can be turned down.  Inside the window, it's guaranteed coverage, and you can't be turned down.

Now, to the Supplements.  If a doctor accepts coverage, she/he will treat you.  No networks.  No preapprovals.  No geographic restrictions (in the USA).  There  are several plans to choose from, but the benefits under each are consistent from carrier to carrier.  I like (and took) the F plan.  I went with United American (not United Healthcare, which is also good), and my premium is $239/month (will vary based on which company you choose and where you live).  If you are healthy, and are concerned with the price, many companies offer High-Deductible Plan F.  The premium is really cheap, but you'll pay the first $2,100 or so out of pocket before the insurance kicks in.  The regular Plan F has no deductibles.  

Finally, as mentioned by others, you'll need a drug plan - Plan D.  They aren't great, but if you don't choose one when you are eligible, you'll be penalized when you finally do, and the penalty increases the longer you go without Plan D, and the penalties go on forever.  I recommend going directly to the Medicare dot Gov website to get information on a Part D plan, and enroll from there.

Good luck!

[Carmie]

@gellen   Since you are already 65,I am sure you have Medicare Part A.  Medicare Part A covers impatient facility charges, in a hospital or a nursing facility.

You are correct that you will need Medicare Part B when your employer drops you from their coverage.  You sign up for Part B through the SS office, or on the medicare website.  It is pretty easy.  You will need a cancellation date for your employers Insurance.  It can be a future date, you won't need to wait until it actually cancels to sign up.

Medicare Part B an is important as it covers all outpatient services, either in a facility or from a professional provider.

Once you have both Parts of Medicare, you will be eligible to pick up a supplement for Medicare, or trade in your Original Medicare for an Advantage Plan.

You will have to make a choice within 6 months of your Medicare Part B effective date.

The rates and the coverages for 2020 will be out starting in October.  There will be many insurance companies and senior centers with a ton of available information.  I suggest you begin looking at what is available in your area at that time.

You do not need to sign up for Social Security (SS) when you are 65 and go on Medicare.  You can delay SS and collect anytime between the ages of 62 and 70. At age 70, you must take SS.

If you do not go on SS, you will be billed for Medicare Part B  an quarterly, or if you do an auto payment from your banking account, you can pay monthly.

If you are take SS, your Medicare Part B payment will be taken from your SS payment.

If you have questions, just ask.  I will help you if I can.

[drizzellla]

Last year when I retired, I went on Medicare.

My husband had used an insurance guy who specialized in Medicare and Medicare Supplement plans. He asked lots of questions and found a great Supplement plan for me.

He also found a prescription plan for me. I now pay -0- for my prescriptions.

Couldn't be happier with what he had recommended for me. 

[Cats3000]

I'd suggest looking for the SHIP Counselor in your area.  These are people who are trained to answer questions like this.  They don't sell anything.  They have no ax to grind.  They will work with you to help you get what you need.  

Check your local phone book, or do an on-line search for SHIP Counselors to find the one nearest you.

[nomless]

@gellen , find a certified Medicare consultant in your area who  can explain what you need to do and all thecoptions  You can trust that the info from a certified consultant is accurate. Your local Office on Aging can give you referrals, or perhaps your doctor can. (mine did). 

[CelticCrafter]

We went to the free seminars that were offered during the open enrollment periods just to gain knowledge about the plans and spoke with an advisor to make sure we understood and knew what we were doing before we made our final decisions.

[Mindy D]

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@ItsME wrote:

@gellen   I just turned 65, and I also have a license to sell insurance, although I don't sell much.  It's not my career.  A couple people here have already given you some good basics.  Yes, go to the social security office to talk to them about Part B.  Mine costs $135/month.  Next, I would recommend a SUPPLEMENT rather than an Advantage Plan to cover the 20% not covered by Part B.  

Advantage Plans are run by insurance companies.  They will have networks, copays, and/or deductibles.  Many only have providers in your immediate area.  They can also change or discontinue the plans.  The PRO is that they are usually inexpensive.  But, if you actually use them, the copays and deductibles will add up.  They also might not cover what you need.  

I knew someone years ago, whose father had an Advantage Plan. Shortly after selecting it, he was diagnosed VERY EARLY with pancreatic cancer.  Because it was so early, there was hope, but he needed surgery out of state.  His Advantage Plan wouldn't cover it.  He got lucky... he was within the initial 6 months of eligibility, and was therefore able to change his mind and switch to a SUPPLEMENT, which covered what he needed.  Once you are outside of that initial 6 month period, you can be turned down.  Inside the window, it's guaranteed coverage, and you can't be turned down.

Now, to the Supplements.  If a doctor accepts coverage, she/he will treat you.  No networks.  No preapprovals.  No geographic restrictions (in the USA).  There  are several plans to choose from, but the benefits under each are consistent from carrier to carrier.  I like (and took) the F plan.  I went with United American (not United Healthcare, which is also good), and my premium is $239/month (will vary based on which company you choose and where you live).  If you are healthy, and are concerned with the price, many companies offer High-Deductible Plan F.  The premium is really cheap, but you'll pay the first $2,100 or so out of pocket before the insurance kicks in.  The regular Plan F has no deductibles.  

Finally, as mentioned by others, you'll need a drug plan - Plan D.  They aren't great, but if you don't choose one when you are eligible, you'll be penalized when you finally do, and the penalty increases the longer you go without Plan D, and the penalties go on forever.  I recommend going directly to the Medicare dot Gov website to get information on a Part D plan, and enroll from there.

Good luck!

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gemcd, I have one question. If you take the supplement and pay the $239 monthly premium does Medicare still deduct an additional $140 a month, for having Part B, from your Social Security?

This would add up to $379 a month in premiums without counting in the drug premium for part D. Is the $2100 your TOTAL annual out of pocket expense? So the cost of premiums would be $4548 and the AOP before treatments are covered would be $2100, equaling $6648 for your annual coverage not counting Part D premiums. Whew, that’s steep to me.

[Mindy D]

To All. If you are low income and can not afford to pay the basic part B premium that is usually deducted from Social Security or Social Security Disability monthly benefits there is a way to waive this fee. https://www.ssa.gov/benefits/assets/materials/medicare/MSP-Model-Application-ENG.pdf

https://www.medicareinteractive.org/pdf/MSPFinancialEligibiltyGuidelines.pdf

https://www.medicare.gov/your-medicare-costs/get-help-paying-costs/medicare-savings-programs

[sydsgma1]

If your school district is large enough, it should have a groupnsupplemental or advantage plan for Medicare...especially since you are still,working. I would suggest starting with your hr benefits people.

My Dh and I have a wonderful advantage plan through our district teachers retirement. It also covers those who are still working and on Medicare.