Turning 65: What To Consider When Selecting A Medicare Plan – After reviewing all the information on this webpage, click Enroll Now or Enroll Later for detailed enrollment/deferral instructions based on your situation.

You don’t need to take any action to enroll in Medicare. Please expect to see your new Medicare ID card in the mail about 3 months before your 65th birthday. Your effective date is the first of the month of your 65th birthday (unless your birthday is on the 1st, then it will be effective on the 1st of the previous month).

Turning 65: What To Consider When Selecting A Medicare Plan

Here’s the Request for Employment Information form you need to avoid Medicare Part B penalties when you enroll.

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If you haven’t been covered by the same employer since you turned 65, you need an EVF form from each employer that provides group membership.

A Part B application is also required if you do not apply in person (ie: mail/fax your application or your spouse visits the local office for you).

If your group health plan is affordable and remains primary for Medicare, you can…

The Request for Employment Information form provides reliable coverage information to avoid Medicare Part B penalties if you enroll after age 65. This form is not required until you are ready to enroll.

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No need to save this form, we can provide the current version when you are about to enroll.

If you change jobs after age 65, you must fill out this form with each employer that provides group health benefits after age 65.

Yes/Mostly. Once you turn 65, your group coverage becomes secondary coverage and Medicare becomes primary insurance. If you are not enrolled in Medicare, you may not have full coverage.

If you wish to postpone enrollment in Medicare A and/or B, please confirm with your group health insurance carrier (written recommendation) that they will remain the primary payer or your coverage may have a large gap.

Turning 65: What To Consider When Selecting A Medicare Plan

The Medicare “Who Pays First” law says that Medicare becomes your primary insurance once you turn 65 if the employer you got your insurance through has fewer than 20 employees.

If you wish to defer Medicare A and/or B, please confirm with your current group health insurance carrier (written recommendation) that they will remain the primary payer when you turn 65 or if there is a significant gap in your coverage. If not, we need to talk again as soon as possible to make sure you have the right coverage.

No. As long as you are covered under reliable group coverage and your primary insurer is actively employed by the employer that provides your benefits, you will not incur a late enrollment penalty. Although you won’t be penalized for having reliable coverage, you may still need medication for full coverage (see section above).

Part A: If you qualify for premium-free Part A (either you or your spouse paid 40 quarters of Medicare taxes), you won’t have a Part A penalty for enrolling after age 65.

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Part B: If you don’t have reliable coverage after age 65, you’ll get a Part B late enrollment penalty.

A 10% penalty is added for every 12 months you go without credit coverage. Months do not have to be consecutive. See details on how the penalty is calculated.

Part D: You may get a Part D late enrollment penalty if you don’t have reliable prescription coverage after age 65.

A 1% penalty is added for every 1 month you go without reliable prescription coverage. Months do not have to be consecutive.

Ims Selection Process

Your initial enrollment period (at 65) is 7 months around your 65th birthday to enroll online. If you don’t enroll in that time, you can enroll anytime up to 8 months after your group or work-based coverage (over age 65). Even if you are not under the immediate enrollment deadline at this time, you may still need medical care for full coverage (see section above).

Part A: As long as you qualify for Medicare’s “no premium” ($0) Part A, you can enroll in free Part A (if you qualify) at any time during or after your initial enrollment period. Your coverage start date will depend on when you enroll.

Part B-IEP: If you are age 65 (3 months before birthday, month of birthday and 3 months after birthday) you have a 7 month initial enrollment period.

Part B-SEP: You have 8 months from the end of your group health coverage or employment based on it (whichever comes first) to enroll under the Special Enrollment Period.

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Part B-GEP: If you miss your initial enrollment period, you can enroll during the regular enrollment period each year (penalties may apply, however).

Because your group health benefits are likely to be considered secondary insurance for Medicare, you must be enrolled in Medicare A and B to get full coverage. You have the option of keeping your group health plan as a secondary or choosing a Medicare Supplement and Medicare prescription drug plan as a secondary.

Does it make sense to leave my group health plan to enroll in a Medicare supplement insurance and Medicare prescription plan?

A general rule of thumb is that if your group health plan costs on average less than $150-200/month/person, or about $2000-2400/year/person, then your group health plan is more cost-effective than Medicare.

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However, if you think you can pay more than that or you’re looking for lower deductibles and copays, you may want to check out Medicare more.

Please contact us for a Medicare Cost Analysis to help you better evaluate whether your group health plan or private Medicare Supplement and Medicare prescription plan is more cost-effective.

Medicare Supplement Insurance has an open enrollment period for the first 6 months you are enrolled in Medicare Part B. During this period, you can purchase any medical supplement plan without medical underwriting.

If you stay with your group health plan and later decide to opt for Medicare Supplement (when group health ends, but you’ve been on Medicare for more than 6 months) you have several plans available on a guaranteed issue basis. There are options available that do not require you to answer medical questions to qualify.

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Medicare Advantage plans and Medicare prescription drug plans offer an initial election period when you enroll in Medicare, a special election period when you leave your group plan, and also allow you to change plans once a year during the annual election period (October 15). ).

Spouse under age 65 – If your spouse depends on your group health plan for benefits, please remember that if you leave your group plan, your spouse must receive COBRA benefits through their individual employer or purchase individual health insurance until they are eligible for Medicare. .

Effective Date Considerations – Remember, if you apply for Medicare at age 65, you can’t choose a specific effective date for benefits (and premiums) to begin. The only way to affect the effective date is what month you register online. Please contact us as soon as possible if you are trying to meet a specific start date other than the first of your 65th birthday month (preferably to coordinate with the end of your group plan).

Important HSA Considerations- Once you are enrolled in Medicare Part A you cannot continue to contribute to your Health Savings Account (HSA). If you enroll in Medicare after age 65, your Part A effective date can be pushed back by up to 6 months. Please contact us to discuss the maximum HSA contribution rate for your situation. Click here for details and rules.- Age 65 can be a stressful time for many newly eligible Medicare beneficiaries. When do you start enrolling? What plans should we consider? What do you need to know?

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You have a seven-month window to sign up for Medicare benefits called the Initial Enrollment Period (IEP), which begins three months before you turn 65. months. If your current benefits end at age 65, it’s important to research and compare your Medicare options early to ensure there are no gaps in your coverage.

O Administered by the federal government, Original Medicare includes Parts A and B that provide hospital and medical coverage. For most people, Part A is free, so it’s important to evaluate your options when you become eligible for Medicare.

O Medicare-approved is offered by private insurance companies and can be considered an “all-in-one” alternative to original Medicare. These plans include all the coverage provided by Medicare Parts A and B, and some may include additional benefits such as prescription drug coverage, regular dental care, vision and hearing care, and fitness programs for those who qualify, as well as innovative offerings such as a healthy food debit card. and transportation. Benefits to help you make doctor visits.

O Original Medicare doesn’t cover most prescription drugs, so you must sign-up for a stand-alone prescription drug plan (PDP) if you enroll in Original Medicare. These Part D plans are offered by Medicare-approved private insurance companies, such as Humana.

America’s Benefit Specialist

O Like Medicare Advantage, these plans are

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