One of the most common questions I receive is about when to start Medicare coverage. Many people are working past age 65 and are able to stay on their employer health coverage. So, the question arises: “Should I switch to Medicare or stay on my employer plan?”
Often this question leads to other concerns such as cost, coverage type and enrollment penalties. There are several things to consider when making this choice. I thought I would list a few of these below.
COST AND DEDUCTIBLE
One of the best things to do is run the numbers. You will want to carefully evaluate all of the costs, including monthly premiums, copays, and specifically, deductibles.
YOUR CURRENT HEALTH
Which options work best for you right now with your health and current needs? Other things to consider are healthcare providers, networks, quality of care, travel, and prescription drug coverage. All of these items should be considered when making your choice.
MEDICARE ENROLLMENT PENALTIES
There is a lot of confusion around Medicare enrollment penalties. There are several enrollment penalties but also many exceptions. Make sure you consult with someone during your decision process to minimize the risk of penalties.
Please call me to make an appointment if you are considering your options. I am happy to guide you through this process and help you avoid being assessed a penalty.
Please call Lynne Jones, licensed sales representative, at (480) 212-2246, or email me at jonesdvp@yahoo.com