Do I need to apply for Medicare coverage?

To appropriately answer this question, we’ll need to have an understanding of your circumstances. Get in touch with JD to set up a brief conversation.

I want to begin my Medicare, when and how do I apply for coverage?

If you are seeking coverage at the typical opportunity, when turning 65 years of age, Medicare allows you to sign up for your Medicare Parts A & B as early as 4 months prior to the effective date.

If you are seeking coverage in addition to Original Medicare, this can be completed within 3 months of the effective date, the birth month and 3 months to follow your birth month. (Medicare provides a 7 month window to make coverage determination.)

What if I plan to continue working after age 65?

Medicare will not penalize an individual for making the decision to remain employed and therefore utilizing employer group health benefits or some other form of creditable coverage in the eyes of Medicare, but there are additional questions that need to be considered to make sure the appropriate decision is being made. Get in touch with JD to set up a brief conversation.

Can I be charged extra or penalized if I don’t enroll in Medicare?

Yes. Medicare can charge a late enrollment penalty for not having creditable medical coverage as well as creditable drug coverage. If you are making the decision to forego utilizing either of these coverages, please let us help ensure your making the right decision for your current situation.

How much will Medicare cost me?

Medicare Part A (hospital coverage) is provided by Medicare at no cost as long as you have worked for 40 quarters (or 10 years) and made your social security contributions during that time frame.

Medicare Part B (medical coverage) on the other hand, has a cost affiliated with it and is based on Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount you may pay in addition to your Part B or Part D premium if your income is above a certain level. The income that counts is the adjusted gross income you reported plus other forms of tax-exempt income. Medicare looks at what was reported 2 years prior to when you are seeking coverage.

Is there financial assistance with Medicare costs?

Some people may qualify for extra-help which is a federal program that can assist those who financially qualify. This program will automatically ensure lower costs for prescription medications and may qualify you for assistance on your Part B premium.

How do I decide what is the appropriate plan for my health needs?

Let us start by saying that we will advocate for you at no cost. Our services cost you nothing and we want to ensure you use the most appropriate coverage. Many factors can impact what plan will be most beneficial and enjoyable to utilize. Things we consider are life style, current health conditions that need specific considerations, prescription medications, hospital affiliations, primary care doctor, specialists seen and pharmacy preference to name just a few.