STARTING MEDICARE OR THINKING ABOUT STARTING MEDICARE

Does it feel like an impossible task to put all of the pieces of Medicare together in a way that they make sense?  Do you wonder what Part A or Part B have to do with your decision to keep working and whether you should keep your employer plan or not?  Has your neighbor given you impassioned advice about his Medicare choices but your sister is adamant you SHOULDN’T do that?

We can help you sort out the pieces of Medicare and decide what is the best option for you.

Annual Enrollment Period for Medicare is October 15 – December 7th.  This is the time to review your Part D and Medicare Advantage coverage options.  If you have a Medicare Supplement and are considering the Medicare Advantage option for the upcoming year, this is the time to make that decision.  We can discuss your options at any time during the year so that you feel informed and confident about your Medicare coverage choices.

If you plan to start Medicare when you turn 65, the easiest way to enroll is typically to visit www.ssa.gov  

Once you are enrolled in Part A and Part B, this is when you will be able to add on to your Original Medicare by selecting a Medicare Supplement and Part D plan OR chosing a Medicare Advantage plan. 

We also help adult children learn how to help their parents with Medicare coverage.  Please schedule an appointment with one of our licensed insurance agents to get On Point coaching about ways to help your parents.

There are many unique enrollment scenarios!  The licensed insurance agents at On Point will help you navigate your best Medicare strategy.

If you want to continue working beyond the age of 65, there are two things to consider:

  • If your employer has more than 20 employees, you could defer both Part A and Part B if you want to continue contributing to your Health Savings Account.  OR you could start your Part A which will then work in tandem with your employer coverage.  Starting any part of Medicare makes you ineligible to contribute to your HSA.
  • If your employer has fewer than 20 employees, you MUST start your Medicare coverage because Medicare will be the primary payor.  You can then either keep your employer coverage or choose to add-on additional Medicare coverage like a Medigap plan or an Advantage plan.

Enrollment Periods

Initial Enrollment Period (IEP): This is a 7-month period beginning 3 months before turning 65, includes the month of your birthday, and continues for 3 months after turning 65. If you have “creditable coverage” such as an employer health plan or a government program, you can defer your Medicare enrollment without a penalty.

Annual Enrollment Period (AEP): This occurs every year between Oct. 15-Dec. 7. This is a time to review your Medicare health and prescription plans with your agent and make changes for the upcoming calendar year.

Special Enrollment Period (SEP): After a “qualifying event” occurs, you have a specific period in which you can make changes to your Medicare coverage. Examples of qualifying events include losing employer-provided benefits, moving outside of your plan’s service area, gaining or losing Medicaid benefits, moving into or out of a residential care facility, and Trial Rights periods.

Open Enrollment Period (OEP): Occurs annually from Jan. 1 to Mar. 31. During OEP, someone with a Medicare Advantage plan can switch to a different Medicare Advantage plan or go back to Original Medicare.

Not affiliated with or endorsed by the government or federal Medicare program. We do not offer every plan available in your area. Currently we represent 7 organizations which offer 37 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all your options.