Call today — to meet & discuss your Medicare Advantage & Medicare Supplement options + find the best plan for you.
Call today — to meet & discuss your Medicare Advantage & Medicare Supplement options + find the best plan for you.
SS develops the how to & when to sign up regulations! I call MediCare's sign-up regulations "rules".
These rules state — you:
-> Become "eligible" to sign-up the month when 65. Your coverage will be effective the first day of that month.
-> Can sign up for Part A at anytime after 65.
-> Can only sign up for Part B in specific enrollment periods.
[Link to this page to learn about the steps to sign up !]
In addition to these basic sign-up rules there are exceptions. A person who :
-> started to receive SS benefits more than four months before 65 will be automatically enrolled in Part A & B the month eligible.
-> is receiving SS benefits and turns 65 can opt out of Part B if on an employer medical plan. Opting means you will not have to pay the employer plan contribution plus Part B's monthly cost..
-> is under 65 and qualified for SS disability becomes eligible for Part A & B after 24 months of receiving benefits!
* The Local office is usually better! Surveys have reported Individuals received incorrect information when calling SS's main 800 # !
When calling the SS office tell them you want to talk to a Retirement person! When talking ask about:
● Completing your application for Part B and activating Part A.
● Your options for paying your share of Part B monthly cost. The base amount is $164.90 a month in 2023.
Background on paying your Part B's costs:
● The base $164.90 is 25% of MediCare Part B's overall costs across the US divided by the number of individuals covered by Part B.
● Your monthly cost will be higher than the base if the AGI on your IRS 1040, from two years ago, is above 97k for a Single filer & 194k for Joint. There are five income levels above the up to 97k base. Each level adds additional monthly cost to the $164.90!
When to start SS benefits? SS has good info on selecting a good age to start. This summary may be useful.
A back and forth conversation with a SS Retirement person about signing up has many advantages.
But you can also Sign Up — On-Line — on this SS page However, it's:
● Somewhat complicated so I recommend being careful.
● Not recommended when leaving an employer plan after 65! — Call John [ (860) 451-9793] if questions on why. .
Note: When your application is complete and coverage is available - MediCare calls you "entitled" [not enrolled ] for medically necessary treatment or services:
● Part A — inpatient care in a hospital.
● Part B — covers the many kinds of outpatient services.
Entitled is on your MediCare ID card above the date your Part A & B medical coverage started!
The number on your ID card is called your Medicare Beneficiary Identifer:
● The MBI for each person has:
- ● 4 upper case letters & numbers — 3 more — and 4 more.
● To avoid confusion between certain numbers and letters the MBI does not use letters S, L, O, I, B, and Z to eliminate confusion between letters and numbers such “0” and letter “O”.
This page has a picture of the ID card and info explaining the new style ID card.
Marketing organizations are runing Medicare Advantage plan ads on Local TV:
Medicare's marketing rules, specifically for the MA OEP, state all ads should be focused — e.g. can only say call if you soon will be "eligible" for MediCare, or are moving, or over 65 and planning to leave an employer medical plan!
Ads are not to imply anyone can call - but they still do!
Medicare was to begin Jan 2023 to require ads to be approved before they run. What I have seen is ads are still deceptive!
This red link takes you to factual information about the two types of Medicare Health plans and times you can sign up. These times, controlled at the federal level, are called — enrollment periods and are also described.
Another ongoing TV ad about retirement mentions the company also help individuals with Medicare. Then it says - Buy their Medigap plan! [a Medicare Supplement] But:
+ This companies plan is not approved in CT!
A survey found ― 55% of people report being confused!
Another survey of individuals over 65 found:
- > 29% do not understand Medicare Advantage Plans
- > 23% do not understand Medicare Supplements
- > only 48% said enrollment was easy.
Tip: Call John C Parker at (860) 451-9793. [Google Voice #] — If you have questions about how:
● MediCare works
● the sign up periods work!
Note: Calling is just a commitment to talk to John - not to enroll!
Beginning Jan 2023 Medicare's marketing regulations, in certain situations, do not allow me to talk about signing up for Medicare benefits on a phone call unless the call is recorded. We can avoid this by meeting in person.
● First — If currently covered by your or a spouses employers medical plan — or were in past 63 days — you will be eligible to use a SEPeriod.
Second — Call the Local SS office — ask to talk to a Retirement person. Tell them the date you will be leaving employer coverage and the date you want to:
● Start Part B.
-> FYI. They will also activate Part A but it will be backdated six months from the date you get for Part B.
● Review the options to pay your share of Part B's monthly cost which is $164.90 in 2023 :
-> it's deducted from SS when receiving benefits.
To avoid Part B's late enrollment penality the next steps need to be completed:
● Have your employer complete a CMS-L564 to confirm you had employer medical coverage.
-> The CMS-L564 can be found on this link.
-> The application for Part B, CMS-40B can also be found on this link.
● Return the CMS-L564 to SS when it's signed. During this:
-> confirms you have medical coverage and approves your SEP.
-> means you avoid B's late enrollment penalty
BTW — If you did not have employer medical coverage you can't just sign up for Part B whenever you want! <—> Federal regulations limit sign up times when past 65 to these periods.
Let's look at:
● What you would pay for treatment/services if just using Part A & Part B! (called original Medicare)
MediCare — does not pay MDs or other outpatient providers their normal office rate for the treatment of service provided nor do they pay 100% of Medicare's approved amount!
● How MediCare's payment system works — It:
— Reviews all medical treatments and services and then "assigns" ** an amount for each.
— Asks MDs and other outpatient providers, who agreed to participate, to accept just 80% of the approved amount. This is called to accept "assignment".
** Discounted, often deeply, from retail!
Thus, if just using "original Medicare" and going for — any:
● Outpatient treatments or services you pay 20% of MediCare's approved amount! You also pay, at the beginning of each year, Part B' deductible — It's $226 in 2023.
Bottom line — so many medical treatment and services are provided outpatient today so paying 20% could quickly be a Big Risk to your income & savings!
● In hospital treatment: When admitted Part A's coverage is very extensive and MediCare pays all medically necessary treatments / services — You would be responsible to pay Part A's deductible each time admitted. It's $1,600 in 2023.
Buying one of the two special medical related insurance plans, which I call — Medicare Health Plans, works like — putting an umbrella up over your income & savings!
Note: Buying one of the "special financial protection plan" means — you will not receive a rainstorm of bills from providers for your 20% share!
These two red links take you to information on how these plans work with the MediCare system and protect your finances when you receive medical treatment / services:
● Medicare Advantage Plan in New London CT or a
● Medicare Supplement in CT
Each plan has options for different levels of coverage, which will meet your situation / interest / budget.
It would be nice to not have a change in health — but in every life we know:
● No one can say an accident won't happen!
● However, the possibility an illness, with complex ongoing treatment, could happen is high! Thus, having to pay 20% for a lot of outpatient treatment = significant costs!
Because of the BIG un certainity — it's very important — to buy either a:
-> Medicare Advantage (MA) Plan approved for New London County
-> Medicare Supplement approved in Connecticut
When you own either option it:
+ + protects your income & savings from big expenses
+ + puts you in control
+ + provides peace of mind which is priceless!
Note: You can change your Medicare Health Plan once a year and a Med. Supp. can be changed at any time!
Whether you'll soon be 65 — or are over 65 and now plan to leave your or a spouses's employer plan call/text John C Parker's Google Voice today (860) 451-9793)
When meeting to talk & eMail we can:
● Review your situation / interest / budget and which type will be best!
● Increase understanding of plan details and how they work in our area.
Note: Whatever time you need will be available to help you.
> I am told this is a big Help!
● Meet again after you think about what will be best for your situation to sign up!
Then too it's OK to say — now is not the right time!
You can also send questions to me about signing up for a Medicare Advantage Plan or a Medicare Supplement:
● Using the form below or
● To — John@MedicarePlansSECT.com
Help individuals in Southeastern CT simplify Medicare Health Plans and how they work with MediCare's system. John working as:
+ An Advisor — increases understanding of the plan options in New London County, which meet the individual's situation.
+ A Broker — helps individuals select and enroll, when available, in the plan which is best for them.
< - - > Medicare regulations require any telephone conversation about Medicare Plan benefits to be recorded.
Note: Meeting in person, which is often more useful, is OK !
< - - > John is licensed in CT (# 644135 ) and does not solicit or sell in other states.