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Your 7 Step Guide ☑️
Step 1.) Determine Your Medicare Enrollment Need
When approaching your 65th birthday while still actively employed with full-time status and group health insurance, assessing your Medicare enrollment necessity becomes crucial. If your current coverage is deemed "creditable," meaning it meets Medicare's standards, inquire with your HR representative (or your spouse's HR) to confirm its status and whether it's primary or secondary to Medicare. Should your coverage lack the "creditable" designation or is secondary to Medicare, enrolling in Medicare Parts A and B becomes imperative.
Your Initial Enrollment Period (IEP) spans seven months, beginning three months before your birthday month, extending throughout your birthday month, and concluding three months afterward. For instance, if your birthday falls on June 22nd, your IEP allows enrollment from March to September 30th.
Despite eligibility, if you possess "creditable coverage" through employment, immediate Medicare enrollment isn't mandatory. However, exploring Medicare as a viable alternative to your employer's group plan is advisable if it aligns better with your financial considerations.
Step 2.) Understanding Medicare Parts A and B Coverage (Original Medicare)
Delve into the specifics of what Medicare Parts A and B encompass, collectively known as Original Medicare. Gain insights into the range of medical services and treatments covered by each part, along with potential out-of-pocket expenses you might incur. By comprehensively understanding the coverage and associated costs, you can make informed decisions regarding your healthcare needs.
Step 3.) Assessing Additional Costs for Part B and Part D Insurance - IRMAA Consideration
Evaluate whether you may be subject to additional charges for Medicare Part B and Part D premiums due to Income-Related Monthly Adjustment Amount (IRMAA). If your income exceeds certain thresholds, you could be required to pay higher premiums for these insurance components. Understanding IRMAA implications is crucial as it impacts your overall Medicare expenses, enabling you to plan effectively for any potential surcharges based on your income level.
Step 4.) Enroll in Medicare Parts A and B.
This is Original Medicare and you need to enroll via Social Security.
You have 3 ways to do this.
In person at your local Social Security office
Call Social Security at 800-772-1213
Go online to https://www.ssa.gov/benefits/medicare/
Stuck need help? problems or questions email patrick@onwardshield.com or call 706-840-2546
Step 5.) Determine which type of MEDICARE PLAN you want.
SCHEDULE A CALL NOW - CLICK HERE this link will take you to my Calendly Site to allow you to schedule a call with a licensed insurance broker - Patrick Hackenberry
This is when you will choose between Medicare Advantage or a Medicare Supplement(s) (Medigap Plan).
Step 5 is when you will schedule an appointment with Onward Shield / Patrick Hackenberry to make this decision and to apply for a Medicare insurance plan.
You also need a detailed list of you current:
prescriptions
doctors and specialists
preferred hospitals, pharmacies, and clinics
Step 5 is all about finding the additional coverage that meets your needs.
Step 6.) If you select a Medigap Plan (Medicare Supplement) you will also need a prescription drug plan (PDP) Most Medicare Advantage Plans already include a prescription drug plan.
Step 7.) Review your plan annually - and make your election (with Patrick Hackenberry) during AEP. The annual election period is from October 15th to December 7th each year.
problems or questions:
Contact Patrick Hackenberry
706-840-2546 or email: patrick@onwardshield.com
Helping people in Thomson, GA, Augusta, GA, Aiken, SC and the surrounding areas with Medicare.
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