Tag Archives: Medicare

Avoiding the Medicare Late Enrollment Penalty

Three months before you turn 65 you should receive a packet of information that tells you exactly what you need to do during Medicare open enrollment to insure coverage.  Open enrollment only lasts for three months before the month you are set to turn 65 and for three months after.  If you choose to enroll in Medicare outside this period, you will be subject to a late enrollment penalty.

Late Enrollment Penalty

There are four different parts of Medicare which each have their own penalty for late enrollment.  These four parts are: Medicare Part A, Medicare Part B, Medicare Advantage, and Medicare Plan D.  There are penalties for each separate part of Medicare if you choose to enroll late.

Medicare Part A

Most likely you will automatically qualify for Medicare Part A when you turn 65.  If you do automatically qualify, often there is not premium.   Automatic coverage occurs for recipients who have, or who have a spouse who has, worked at least forty quarters in the United States.  This equates to ten years of employment in the U.S.

If you have not met this qualification, then when eligible you will be required to pay for premium for Medicare Part A.  If you choose not to at the time, waiting until a later date, your premium will increase monthly by 10%.  The increased premium will need to be paid for double the number of years you could have had Medicare Part A but did not choose to sign up.

Medicare Part B

Medicare Part B is like Medicare Part A in that your enrollment in benefits are automatic.  Like Medicare Part A, if you are not enrolled automatically you will need to enroll in Medicare Part B when you become eligible.  If you choose not to enroll in Part B when you are first eligible you will be charged a late enrollment penalty for the entirety of your coverage. The penalty has the potential to increase by 10% for every year you did not sign up but were eligible to do so.

Medicare Plan D

Medicare Plan D, also known as prescription drug coverage, is one plan that you will not automatically be enrolled in.  It is encouraged that you enroll in prescription drug coverage with in the enrollment period.  If you do not and you are not enrolled in any other prescription coverage the penalty you pay multiplies 1% of the “national base beneficiary premium” times the number of months that you have not had prescription drug coverage.   The premium is rounded to the nearest ten cents.

Exceptions

If you qualify for a Special Enrollment Period, you may avoid the late penalty for Medicare Part A and B.  This special enrollment period occurs when seniors are still working at 65 and delay enrolling in coverage.  The same is true as well if you are covered under your spouse’s medical insurance.

The experts at eMedicare Supplemental Insurance, powered by Omega, have all the answers you are looking for when it comes to your Medicare Supplemental Insurance needs.  More information can be found at http://emedicare-supplemental-insurance.com/.

 

Medicare Supplemental Insurance Made Simple With Senior Health Direct

Deciding on the best Medicare Supplemental Insurance plans can be difficult and confusing, and quite often difficult to decipher. A lot of the Medicare Supplemental Insurance companies manage to sidestep essential information for prospective clients, and actually, it probably loses them business. The Medicare Supplemental Insurance companies should certainly make things as easy to understand as you can, but it seems nearly impossible to discover one that does. These factors have led lots of people to select Medicare Supplemental Insurance plans they didn’t need, or thought they wanted, but it happens they’re not really feasible or suited to them. What / things one does to make the whole process of choosing the right Medicare Supplemental Insurance plans for your needs, without falling into a plan that does not meet your requirements or lifestyle? These decisions can be extremely hard to come by, but there is a glimmer of expect full-scale there, as possible receive additional aide when selecting your Medicare Supplemental Insurance plan.

So exactly what is the helping hand, who offers it, and why? The bit of support is really a company that will assist you in choosing your Medicare Supplemental Insurance plans, and they can make certain that solutions is protected, and exactly what you don’t aren’t so that you will aren’t spending wasted cash. Insurance plans generally speaking can be quite challenging to understand, and you probably know this, we’re not all of that great with paperwork and contracts, so it will be vital we look for professional guidance, in order that we are able to make the most effective, educated and informed decision we possibly can. Aren’t offers this guidance or, ‘helping hand’? The corporation is called Senior Health Direct,and they’ve been assisting 1000s of seniors using Medicare Supplemental Insurance plans, making certain they do not register to any plans that do not correspond using their needs and lifestyles.

Senior Health Direct have an online prescence which clearly outlines almost all their services and data, which can be beneficial indeed for those who are searching out the right Medicare Supplemental Insurance plans by themselves or or their loved ones members, as it can be a very confusing grey area for most people. You can view incidentally they handle their customers that they worry about each client they help, and they won’t just send for your way with any plan, they are there to solve the situation that also heavily stands where people choose an unsuited Medicare Supplemental Insurance plan on their own.

There are lots of folks who suffer from been through Senior Health Directs process, and are available out totally informed regarding Medicare Supplemental Insurance plans, and therefore are completely happy with everything. It’s a much better, more responsible way to organize your wellbeing treatments, while totally informed regarding how you may be treated and what costs will probably be available. Senior Health Direct will give you by the hand, and walk you through the most suited Medicare Supplemental Insurance plans that are available to you personally.

Senior Health Direct allows clients to view and compare Medicare Supplemental Insurance plans and rates from the comfort of your own home.