Friday, April 27, 2012

Fifteenth of 65 Things Everyone Needs to Know About Medicare before Age 65






65 Things Everyone Needs to
Know About Medicare
 before Age 65

You are eligible to enroll in Medicare Part B three months before your 65th birthday month and up to 3 months after your 65th birthday month.


For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .

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Tuesday, April 24, 2012

Fourteenth of 65 Things Everyone Needs to Know About Medicare before Age 65





65 Things Everyone Needs to
Know About Medicare
before Age 65

You must contact Social Security about 3 months before your 65th birthday to enroll in Medicare Part A if you are not receiving Social Security benefits or have not signed up to begin receiving Social Security Retirement benefits at age 65.


For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .
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Saturday, April 21, 2012

Thirteenth of 65 Things Everyone Needs to Know About Medicare before Age 65




65 Things Everyone Needs to
 Know About Medicare
 before Age 65

You may not decline to enroll in Medicare Part A if you are receiving Social Security Benefits.

For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .
 
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Tuesday, April 17, 2012

The Twelfth of 65 Things Everyone Needs to Know about Medicare before Age 65





65 Things Everyone Needs to
 Know about Medicare
before Age 65


If your 65th birthday is in 2012, you are eligible for Medicare at age 65. However, age 65 for you is not Social Security Full Retirement Age. Your Social Security full retirement age is 66. You may begin drawing Social Security Retirement benefits as early as age 62.  However, drawing your Social Security Retirement benefits prior to age 66 will result in reduced benefits. Delaying Social Security Retirement Benefits to age 70 will result in up to a 32% increase in benefit amount above your age 66 full retirement benefit.

For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .

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Monday, April 16, 2012

Medicare Part B: Dropping and Re-enrolling




 Medicare Part B: Dropping and Re-enrolling 




Question:  I will be 65 this year but plan to continue working. I have insurance through my job but I am considering taking Medicare and dropping my insurance through work. If I later change my mind and want to drop Medicare and go back on my insurance at work, can I do that?

Answer:  Yes, but there are guidelines that effect your options.

If you are receiving Social Security Retirement benefits you will be automatically enrolled in Medicare Part A and you must take Medicare Part A, you may not decline or drop it.

If your employer has less than 20 employees, their health plan is, in most cases Secondary to Medicare (or pays after) and you do not qualify to delay enrolling in Medicare Part B without incurring a penalty once you do enroll. If this is the case, you may enroll in Medicare Part B, drop it later and switch back to the employer plan but at some point you are going to lose that employer coverage and when you re-enroll in Medicare Part B you will be assessed a permanent penalty, generally an additional 10% of the premium for each 12 month period you go without Medicare Part B.

If your employer has 20 or more employees, their health plan is, in most cases, PRIMARY to Medicare and you qualify to delay enrolling in Medicare Part B without incurring a penalty once you do enroll or reenroll. So the scenario you described is an option.

Here are things you need to know before you do anything:

Most employers require a "qualifying event" to enroll or dis enroll from the plan outside annual enrollment. Turning 65 is a qualifying event and losing coverage is a qualifying event but voluntarily dropping Part B may not be considered a qualifying event and you most likely will have to wait until your employer's annual enrollment to reenter their health plan. Find this out from your HR person before you make your decision.

Find out from your HR person if your plan is Primary or Secondary to Medicare. If they don't know, call the phone number on your health plan ID card and ask them. Getting the answer in writing is not a bad idea in case problems come up down the road.

If your employer plan is Secondary to Medicare and you decide to do this anyway, you may only reenroll in Medicare Part B during Annual Enrollment January to March of each year and Part B will be effective July of that year. 

This scenario will also affect your enrollment in a Medicare Part D Prescription Drug plan and may result in delaying enrollment and penalties.

Some employers offer a wage offset if you are providing your own health insurance. You might want to see if that is a possibility.

Good Luck!



For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .

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Friday, April 13, 2012

The Eleventh of 65 Things Everyone Needs to Know About Medicare before Age 65





65 Things Everyone Needs to
 Know About Medicare
before Age 65
You will be enrolled in Medicare Part A automatically if you are receiving Social Security benefits or have signed up to begin receiving Social Security Retirement benefits at age 65. Verify your eligibility and enrollment status with Social Security at age 65.

For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .
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Wednesday, April 11, 2012

The Tenth of 65 Things Everyone Needs to Know About Medicare before Age 65




65 Things Everyone Needs to
 Know About Medicare
 before Age 65

If you enroll in Medicare Part A for a premium, you must also enroll in Medicare Part B.


For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .

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Saturday, April 7, 2012

The Ninth of 65 Things Everyone Needs to Know About Medicare before Age 65




65 Things Everyone Needs to
 Know About Medicare
 before Age 65
Failing to enroll in Medicare Part A for a premium when you are initially eligible will result in a premium penalty once you do enroll. Verify your eligibility and enrollment status with Social Security at age 65.
For answers to your Medicare Questions or to request quotes on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com.
 
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Tuesday, April 3, 2012

The Eighth of 65 Things Everyone Needs to Know About Medicare before Age 65




65 Things Everyone Needs to
 Know About Medicare
before Age 65
If you (or your spouse) have not earned enough work credits to qualify for Premium-free Medicare Part A by age 65, you may still enroll in Medicare Part A for a premium. The premium varies depending on the number of work credits that have been earned.
For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .

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