I turned 66 in April of this year, resigned from my job in May, but I still have health insurance through my husband’s job as he plans to continue working past 70. He is a military veteran so I am eligible for TFL if and when I apply for Medicare A & B. I also stopped contributing to my HSA in Jan. My plan is to delay SS benefits till 70. I am aware of the SEP. Hope I got everything covered. Thanks for your clear explanation of a lot of things.
I’m confused. If you’re keeping your employer medical plan but then when you retire you sign up for Medicare A & B, you can’t ever get a supplement? I’m not clear on that. Please explain. Thank you!
If you keep your employer plan (creditable) but also sign up for Part B you are at risk. I recommend delaying Part B until you are ready to move away from the employer plan.
Medigap plans can increaseprices at any time, but it's usually on your policy anniversary. The must give a 45-day notice. Part D is a calendar year annual plan. Premiums only change on January 01. Drug prices, howeve, can change.
They automatically enroll you in Medicare, not Medicaid. They do this because they can automatically deduct the premium from your SS income. You then have an option to opt out.
Note, Advantage plans include a life long commission for agents as opposed to 7 years for supplement. This is the greatest channel for medicare!
I turned 66 in April of this year, resigned from my job in May, but I still have health insurance through my husband’s job as he plans to continue working past 70. He is a military veteran so I am eligible for TFL if and when I apply for Medicare A & B. I also stopped contributing to my HSA in Jan. My plan is to delay SS benefits till 70. I am aware of the SEP. Hope I got everything covered.
Thanks for your clear explanation of a lot of things.
Sounds like you are doing great to me!
Great information.
thank you
I’m confused. If you’re keeping your employer medical plan but then when you retire you sign up for Medicare A & B, you can’t ever get a supplement? I’m not clear on that. Please explain. Thank you!
If you keep your employer plan (creditable) but also sign up for Part B you are at risk. I recommend delaying Part B until you are ready to move away from the employer plan.
Thanks for another helpful video. Quick questions: can Medigap or Part D plans increase premiums mid-day, or only on January 1?
Medigap plans can increaseprices at any time, but it's usually on your policy anniversary. The must give a 45-day notice. Part D is a calendar year annual plan. Premiums only change on January 01. Drug prices, howeve, can change.
How can they automatically sign you up for Medicaid if you been drawing SS for at least four months?
They automatically enroll you in Medicare, not Medicaid. They do this because they can automatically deduct the premium from your SS income. You then have an option to opt out.
Are you available in all states?
Yes - all states except MA