Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Most people will enroll in Medicare when they turn 65. Part A is premium-free for most individuals because you've been paying FICA taxes during your working life (you need 40 quarters/10 years of working life to qualify for premium-free Part A). Part B requires a monthly premium ($104.90 in 2014 - can be higher for individuals in higher income brackets - figure based on your modified adjusted gross income from your tax return from 2 years prior).
If you're still working and have group coverage, you can elect to postpone receiving Part B until you're ready to come off the group plan. When you're ready to come off the group coverage, you'll have a special enrollment period to enroll in Part B. If you don't do it in this window, you will have to wait until the annual general enrollment period (January 1-March 1) - please note, if enrolling during your general enrollment period, you will have a July 1 effective date.
When you first enroll in Part B, you will also trigger a six-month open enrollment period to buy a Medicare supplement plan with NO MEDICAL UNDERWRITING. This is THE BEST time to buy a supplement plan - plan F is the most comprehensive plan.
If you have any questions about your coverage or would like to review options for a Medicare supplement plan, please send me a message by clicking on the "contact me" button or call me at 703-665-9133.
The majority of Americans are enrolled in Medicare when they turn 65. However, for those that are disabled and receiving social security benefits, you will automatically be enrolled in Medicare during the 25th month you receive disability benefits.
Upon first enrolling in Medicare, you should definitely look in to obtaining a Medicare Supplement policy, also known as Medigap coverage. You have six months from your Part B effective date to apply for any Medigap plan of your choice, and no insurance company can turn you down or raise your rates due to any health problems you have. After that six month window, in most states, you may never get that right again. If you are not sure which Medigap plan would be best for your needs, consult with a licensed, certified health insurance agent that works with many different companies to ensure you get the best advice possible for your personal needs.
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If you're still working and have group coverage, you can elect to postpone receiving Part B until you're ready to come off the group plan. When you're ready to come off the group coverage, you'll have a special enrollment period to enroll in Part B. If you don't do it in this window, you will have to wait until the annual general enrollment period (January 1-March 1) - please note, if enrolling during your general enrollment period, you will have a July 1 effective date.
When you first enroll in Part B, you will also trigger a six-month open enrollment period to buy a Medicare supplement plan with NO MEDICAL UNDERWRITING. This is THE BEST time to buy a supplement plan - plan F is the most comprehensive plan.
If you have any questions about your coverage or would like to review options for a Medicare supplement plan, please send me a message by clicking on the "contact me" button or call me at 703-665-9133.
Upon first enrolling in Medicare, you should definitely look in to obtaining a Medicare Supplement policy, also known as Medigap coverage. You have six months from your Part B effective date to apply for any Medigap plan of your choice, and no insurance company can turn you down or raise your rates due to any health problems you have. After that six month window, in most states, you may never get that right again. If you are not sure which Medigap plan would be best for your needs, consult with a licensed, certified health insurance agent that works with many different companies to ensure you get the best advice possible for your personal needs.