Turning 65 To Do List
Congratulations, You are 1 of 10,000 Baby Boomers Turning 65 Each & Every Day! The milestone of your 65 th birthday may be here or just over the horizon, but you know very little, if anything, about Medicare. Do you need it? What does it cover? When should I sign up? Etc. Etc. Etc. You Have Questions….You Need Answers!
For Most People Turning 65 Means You Are Eligible for Original Medicare, Part A and Part B. This federal program provides hospital insurance and some medical insurance to age 65+ Americans, and in special cases, under 65.
You have Options and Choices available for Healthcare Coverage when you are Turning 65. At this time you can add a stand-alone Medicare Prescription Drug Plan (PDP) to your Original Medicare to receive Prescription Medication Coverage. Or you may choose to enroll in Medicare Part C, also called a Medicare Advantage Plan. These plans are available from private insurance companies and must offer the same benefits as Part A and Part B, but may add more coverage such as Vision, Dental or Prescription Drug Benefits. Another option is to enroll in a Medicare Supplement Insurance Plan (Medigap) that is available to add to your Medicare
coverage to help cover the “gaps” in Original Medicare.
If You are Still Working and Have Healthcare Coverage, Medicare may not be your answer. But it is important to think about it in advance especially if you are turning 65. If you plan to stay on your group health insurance plan when you turn 65, then Please Do NOT Let Anyone Try and Convince You to elect your Medicare Part B benefits (Medicare Insurance). You could be making monthly payments that you do NOT need to do yet.
Also, Filing for Medicare is NOT Automatic! Although Medicare eligibility begins at age 65, enrollment is only automatic for those who have already been receiving Social Security benefits. In that case, the government mails a Medicare Card 3 months before the date of eligibility. Those who are not already receiving Social Security can apply for Medicare through the Social Security Administration, online or by visiting a local office.
Be Aware of the Late Enrollment Penalty! If you don’t enroll in Medicare when you are first eligible you may face stiff penalties when you go to enroll. And those penalties will be with you for as long as you have Medicare. Now Is The Time To Find Out, No Surprises!
7 to 9 Months Before Your 65 th Birthday
Contact your Medicare Specialist to receive a Free, No-Obligation Informational Healthcare Benefits Review for Healthcare Choices, Options & Solutions. You can reach your Medicare Specialist 5 days a week, 9 AM to 7 PM.
3 Months Before Your 65 th Birthday
Turning 65 Helpful Hints – Contact Your Medicare Specialist With Any Questions.
Give Yourself Plenty of Time to Learn About Medicare Choices, Options & Solutions: It is a system with many choices and deadlines. Being informed is the best way to avoid mistakes that cost money.
Don’t Expect to be Notified When it’s Time to Sign Up: Unless you are already receiving Social Security benefits, you must apply for Medicare. But you won’t get any official notice on when or how to enroll.
Enroll When You Are Supposed To: To avoid permanent late penalties enroll at the age of 65 if you are not working, don’t have employer insurance, or live abroad. Beyond 65, enroll within 8 months of retiring.
Don’t Despair if You Have Not Worked The 40 Quarters Needed to Qualify: You may qualify for Medicare on your current or former spouse’s work record. You may be able to buy into the Medicare system of coverage.
Don’t Worry That Poor Health Will Affect Your Coverage: If you qualify for Medicare you will receive full benefits. You cannot be denied coverage or charged a higher premium because of a current or past health problem.
Remember That Medicare Is Not Free: You pay premiums for coverage and copayments for most services, unless you qualify for a low-income program.
Don’t Assume That Medicare Covers Everything: It covers a wide range of health services including expensive ones (like organ transplants), prescription drugs and medical equipment, but there are gaps.
Do Not Expect Medicare To Cover Your Dependents: Nobody can get Medicare under the age 65 except those who qualify through Social Security Disability.
Ask me about your options!
This is an important time! Make sure you ask questions and give careful consideration to what is important regarding your health coverage. There are many choices, and each plan has something a little different to offer. Each plan has some pluses and minuses to their coverage. If you would like help from an unbiased Medicare Professional, CONTACT ME!
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