How Medicare and Retiree Coverage Work Together
How Medicare and Retiree Coverage Work Together
Does your employer offer retiree health care coverage? Even if you have a retiree plan, you still need to enroll in Medicare. Medicare and retiree coverage are not the same thing.
Your Medicare coverage will always come first. Your retiree coverage will work as extra coverage to backup your Medicare plan – kind of like a Medicare Supplement plan. While retiree coverage is not a Medicare Supplement plan, it is very similar. It can cover things like copayments and deductibles, or even extra hospital stay days. All retiree plans are different, though, so look over your plan and call your agent to find out what it covers.
Do You Have Coverage?
Not every employer offers retiree coverage. Since it isn’t required, your employer (or former employer) can cancel or change your retiree plan at any time. It’s safest for you to have Medicare as well. Plus, if you don’t enroll in Medicare when you first become eligible, you will face a penalty fee. Some retiree plans automatically stop when you turn 65 and become eligible for Medicare.
If your employer does not offer retiree coverage, retiring or losing your job gives you a SEP. A Special Enrollment Period means that you don’t have to wait for AEP, the Annual Enrollment Period, to buy coverage. You will have 60 days from your last day of work to enroll in a marketplace health plan. After those 60 days are over, you’ll have to wait until AEP (October 15 – December 7) to buy a marketplace plan, at which point you will be charged a penalty fee for having a lapse in coverage.
How To Enroll In Medicare
To get started with Medicare, speak with an agent! One of our licensed and highly qualified agents can help you sort out your options and pick the best plan for your needs. Our agents offer bias-free assistance because they are licensed with multiple carriers. We truly want you to have health care and coverage that works for you.
To set up a free appointment, call 1-844-431-1832.
Understanding The Benefits Of Medicare Supplements
Understanding The Benefits Of Medicare Supplements
Medicare Supplement, or Med Supp plans, are designed to help you pay for your Medicare. Original Medicare is comprised of two parts: Part A, hospital care, and Part B, medical care. Some seniors opt to purchase a Medicare Advantage plan, which adds perks like prescription drug coverage, dental coverage, and more, but Medicare Advantage can be pricey. You may be better off with a Medicare Supplement plan.
Med Supp plans are called Medigap because they help to close the gap between your coverage and your out-of-pocket costs. They don’t provide any extra benefits like Medicare Advantage plans do. However, they will help you pay for copayments, coinsurance, and deductibles.
How Medigap Works
Medigap coverage is arranged by letter. Options are A, B, C, D, F, G, K, L, M, and N. Each letter represents a different amount of coverage, as well as different costs for coinsurance, deductibles, and out-of-pocket limits. The confusing part of this is that Medigap A and Medigap B are not the same as Original Medicare Part A and Original Medicare Part B. Make sure to confirm whether you are discussing Medicare Part A or Medigap Plan A.
The letters apply to every state except for Massachusetts, Minnesota, and Wisconsin. Massachusetts and Minnesota separate their Medigap Plans by only two options, and Wisconsin has one basic plan. Clients will still have options with these plans for different amounts of coverage and costs, but the arrangement is different from the other 47 states (speak to your agent for details).
Medigap Qualifications
To qualify for Medigap, you have to have Original Medicare first. You cannot own both a Medicare Advantage and a Medigap policy, so you’ll need to pick one – but you can switch under certain circumstances. Once you have Original Medicare, all you need to do is pay your premiums and you’ll be eligible. Your spouse may not be automatically eligible because every individual needs to purchase his or her own Medigap policy. Those with a Medicare Savings Account (MSA) are not eligible.
Don’t wait too long to purchase a Medigap plan! Otherwise, you may find yourself excluded or up-charged for pre-existing health conditions. Buy as soon as your eligible.
Buy Now
AEP (the Annual Enrollment Period) runs from October 15 through December 7. Set up an appointment to speak with an agent about Medigap or other changes to your plan by calling 1-844-431-1832.
Holistic and Natural Health Care with Medicare
Holistic and Natural Health Care with Medicare
Medicare provides coverage for services with doctors, pharmacies, and hospitals that have legally agreed to serve Medicare clients. Holistic and natural health care providers are usually not legally equipped to support Medicare. In 2017, if you’re over the age of 65 you have to purchase a Medicare plan. But what if you only use holistic and natural methods and don’t plan on actually using Medicare?
Medicare Is An Investment
If you have Original Medicare, your premiums can be less than $200 per month. That’s a better deal than paying a fee every time you visit a holistic doctor. More importantly, if you have to rush to an emergency room one day, you’ll have to pay the total cost of your visit and care. An emergency medical professional is not going to drive you to your holistic care facility. A Medicare plan will help you pay for any potential emergency.
If you don’t purchase a plan now, you’ll be charged a penalty fee later – so it’s financially smartest to buy a Medicare plan as soon as you turn 65.
What To Buy
If you truly believe that you won’t use your Medicare plan, you’re still better off purchasing a small plan than not having coverage at all. If you prefer, you can enroll in Medicare Part A alone. It will only cover hospital services (no prescription drugs, no doctor’s appointments, no long-term, dental, hearing, or vision care). Additionally, you can enroll in a Medicare Supplement plan, which will help you pay for your coinsurance, copayments, and deductibles.
We’ll take your holistic health care needs into consideration and help you find a plan that best fits YOUR needs. Call today at 1-844-431-1832.
Beginner’s Guide to SilverSneakers
SilverSneakers, in a nutshell, is a fun exercise program designed exclusively for older adults. It is a fitness benefit found in many leading Medicare insurance plans that help provide guidance as well as convenient group exercise classes to improve general fitness, strength, flexibility, and walking ability for older adults. The program’s social events can also help seniors find new friends who also want to pursue an active lifestyle.
SilverSneakers has over 11,000 locations across the United States. These locations include gyms, wellness centers, and YMCAs. Additionally, each location can also give equipment demonstrations. Once enrolled in SilverSneakers, you have access to and are welcome to use any of these participating facilities. Enrollees receive a list of local participating facilities, including addresses and phone numbers.
It is estimated that approximately 20% of seniors are eligible for the SilverSneakers health benefit. More than 65 leading Medicare Advantage, as well as Medigap plans, include SilverSneakers as a benefit. The best part is that this is available to you – if you qualify – at no cost! How do you figure that part out? Well, ask us at MedicarePlanFinder.com or just pick up the phone and call – 844-431-1832.
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The Classes
SilverSneakers classes normally last from 45 to 60 minutes, twice a week. These classes are total body conditioning workouts and often involve hand-held weights, elastic tubing for resistance exercises, and small exercise balls. In some classes, participants may use chairs for additional support and balance.
SilverSneakers also offers outdoor, as well as indoor, exercise opportunities. Some locations have yoga on the beach, exercise in a neighborhood park, or other fun outdoor exercise opportunities.
It’s Important!
It’s never too late to start exercising. Active lifestyles are important for maintaining health as well as quality of life. Moreover, exercise can benefit older adults mentally as well as physically. Moderate exercise can help alleviate stress and potentially reduce feelings of depression. Additionally, regular exercise may be able to improve mental function. Some studies have found regular exercise contributes to improvements when quickly shifting between tasks as well as planning an activity. Furthermore, doctors recommend weight-bearing, flexibility, and resistance exercise for those who suffer from osteoporosis.
Regular participation in the program helps seniors improve strength, balance, and endurance. We’ve seen a very real benefit for our members when they take the time to embrace even light exercise – being fir really helps older adults retain their independence and improve the enjoyment of their retirement years. Reach out to us to learn more – call us at 844-431-1832.
