Arkansas

Should I Delay Medicare When Turning 65?

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Whether or not you should delay Medicare when turning 65 depends on a number of factors, including your health, your current health insurance coverage, and your financial situation.

If you are in good health and have other health insurance coverage that you are happy with, you may want to delay Medicare. This is because you will not have to pay the Part B premium if you delay Medicare. However, you will also not have the coverage that Medicare provides if you delay enrollment.

If you are not in good health or do not have other health insurance coverage, you may want to enroll in Medicare as soon as you are eligible. This is because Medicare will provide you with coverage for the care you need.

If you are concerned about the cost of Medicare, you may want to consider enrolling in a Medicare Advantage plan. Medicare Advantage plans are private health insurance plans that are designed to provide all the coverage of Original Medicare, plus additional benefits. Medicare Advantage plans have monthly premiums and may also have copays and deductibles. However, they may be a lower-cost option than Original Medicare if you have a high Part B premium.

You should talk to a Medicare counselor or your local Social Security office to discuss your options and decide if delaying Medicare is right for you.

Aging into Medicare: A New Chapter in Your Life

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You’ve worked hard all your life, and now it’s time to enjoy the fruits of your labor. You’re looking forward to retirement, spending time with your loved ones, and pursuing your hobbies. But as you enter your golden years, you may also be wondering about your healthcare coverage.

If you’re 65 or older, you’re eligible for Medicare. Medicare is a federal health insurance program that helps cover the cost of medically necessary hospital stays, doctor’s services, outpatient care, and some prescription drugs.

Medicare can be a great way to protect yourself from high medical costs. But it’s important to understand how Medicare works so you can make sure you get the coverage you need.

Here are some things to know about Medicare:

  • Medicare has two parts: Part A and Part B.
  • Part A helps cover inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
  • Part B helps cover medically necessary doctor’s services, outpatient care, and some preventive services.
  • You pay a monthly premium for Part A and Part B. The premium is higher if your income is higher.
  • You also have to pay a deductible and coinsurance for covered services.
  • If you have Original Medicare, you may also want to consider getting a Medicare Advantage plan. Medicare Advantage plans are private health insurance plans that are designed to provide all the coverage of Original Medicare, plus additional benefits. Medicare Advantage plans have monthly premiums and may also have copays and deductibles.

If you’re not sure which Medicare coverage is right for you, you can talk to a Medicare counselor or your local Social Security office.

Aging into Medicare can be a new and exciting chapter in your life. With the right planning, you can make sure you have the healthcare coverage you need to enjoy your retirement to the fullest.

Here are some tips for making the most of Medicare:

  • Start planning early. Don’t wait until you’re 65 to start thinking about Medicare. The sooner you start planning, the more time you’ll have to compare plans and find the one that’s right for you.
  • Get help from a Medicare counselor. A Medicare counselor can help you understand your options and choose the plan that’s best for you.
  • Don’t be afraid to ask questions. There’s a lot to know about Medicare, so don’t be afraid to ask questions. Your Medicare counselor, your doctor, or your local Social Security office can answer any questions you have.
  • Take advantage of preventive care. Medicare covers many preventive care services, such as annual physicals, immunizations, and cancer screenings. These services are important for staying healthy, and they’re free or low-cost with Medicare.
  • Get help if you need it. If you have trouble understanding your Medicare benefits or if you need help paying for your health care, there are many resources available to help you. Your Medicare counselor, your doctor, or your local Social Security office can help you get the help you need.

Annual Enrollment Period (AEP) Tips for Medicare Beneficiaries

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Medicare Annual Enrollment Period Runs October 15th – December 7th

It’s that time of the year when Medicare beneficiaries in Arkansas will soon be getting a lot of Medicare mail and seeing the Medicare ads. The superbowl of Medicare is upon us. I wanted to share a few tips to keep in mind during this time of intense marketing to our local beneficiaries.

Compare 2022 Medicare Advantage or Medicare Part D Prescription Drug Plans Now!

This year the Annual Election Period (AEP) is open from October 15th – December 7th. Anyone on Medicare can change their Medicare health plan or prescription drug coverage to better fit their needs. Medicare health and drug plans can make changes year to year. Pay attention to your annual notice of change letter. A plans formulary, cost, or network can change each year. The letter details everything that is changing in the plan next year.

During the Annual Enrollment Period you can apply for a new prescription drug plan (Part D), apply for a new Medicare Advantage plan (Part C), or leave your Medicare Advantage plan and get on Original Medicare

During the AEP, you can make as many changes as you want. If you make a plan change and feel like the change wasn’t in your best interest you have until the end of AEP to correct it. The last change will be your Medicare plan for the following year and be in effect starting January 1st, 2022.

If you have a standalone Part D drug plan, you may also have a Medicare Supplement Insurance. The benefits on Medicare Supplements do not change from year to year. If you want to change from one Medicare Supplement to another you will still have to answer health questions.

Contact a Local Agent for Help

If you have questions remember locally licensed agents can help you review your Medicare plan, and guide you through Medicare health and drug plan changes. This service is no cost to you, and you are not obligated to purchase a new Medicare plan.