FAQs

I’m turning 65, when do I need to enroll in Medicare?

You may be getting bombarded with mailers & phone calls about Medicare. Maybe you heard that you NEED to get Medicare when you turn 65 or else you will get stuck with a lifetime penalty.

Do yourself a favor and stop listening to people who are not licensed agents!

Medicare is not a one size fits all.

For example, if you are working past the age of 65, work for a company that has more than 20 employees, and are taking advantage of the health benefits offered to you, you may stay on that plan. If the company has less than 20 employees, you will need to get Medicare during your Initial Enrollment Period or IEP, which is 3 months before your birth month, your birth month, and 3 months after your birth month. For some people, it can be less expensive to get Medicare and for others, it makes more sense to stay on the employer plan. The best way to decipher which is best for you, is to contact us so we can do a side by side comparison.

I’m past the age 65, have been covered under my employer’s healthcare plan, and want to retire soon. Do I need to get Medicare? Where do I start?

Yes! You will want to contact us a couple months before you retire. Since you worked past the age of 65, you will need to prove that you had what’s called “creditable coverage” since you did not enroll in Medicare when you turned 65. Your employer will need to fill out a form called CMS-L564. This shows the dates you were employed with creditable heath benefits from your employer. When you retire, it creates what’s called a special enrollment period or SEP. This gives you 63 days to get prescription drug coverage and 8 months to enroll in Medicare Part B. You will need to enroll for Part B online through ssa.gov or fill out form CMS-40B and send to your local Social Security Administration. If you are collecting social security, your Part B premium will be automatically deducted from your social security benefit. If you are not collecting social security, you will get a quarterly bill for your Part B premium. You can set up monthly payments by creating a medicare.gov account.

Please do not be overwhelmed! Instead of doing this on your own, reach out to us and we can walk you through this process and hold your hand the whole way through!

Can my family come on my Medicare plan with me?

Why doesn’t my friend have to pay for their part B?

There are a couple ways to answer this question:

1. Sometimes people who are collecting Social Security don’t realize that their Part B Medicare premium is automatically deducted from their Social Security benefit each month. So although they may have a zero premium Medicare Advantage plan and think they are paying nothing for their Medicare, their Part B Medicare premium is likely getting automatically deducted from their Social Security benefit unless…

2. They qualify for something called ‘Extra Help,’ and based on income, they could get some assistance or full assistance.

3. Some Medicare Advantage plans have an added benefit called ‘Part B giveback.’ These plans may help you reduce your Part B premium. The amount varies from plan to plan.

Why is my Medicare so expensive?

Congrats on doing well! Even though you have paid into Medicare your whole working life, if you make over a certain amount, you may have to pay a higher Part B & Part D premium because of the Income Related Monthly Adjustment Amount (IRMAA). Click the buttons below to see if IRMAA applies to you. Keep in mind, you will not be stuck with this higher premium forever if your income changes because of a qualifying life changing event, for example, retiring. Click on the button below to learn more about form SSA-44 and form SSA-795, which lets Social Security know that your income is going to change. Make sure to fill both of these out. Please contact us if you have any questions.

I keep seeing all these commercials about not paying for part B, how can I get that benefit?

How do I pay for Medicare if I’m not collecting Social Security?