Medicare

Options for signing up for Medicare are DAUNTING! 

We have made it our mission not only to help sign up but also help to understand which plans are best for you and your family.  Questions such as:

• When should I file for Medicare?
• What plans will make the most sense for me?
• Can I keep my current providers with the supplemental policies?

Let our Medicare expert, Justin Williams, take care of you. 

Email:  justin@thehealthcaretutor.com

Justin Williams is not affiliated or registered with Cetera Investors.

You become eligible for Medicare beginning at age 65. If you are receiving Social
Security, you will automatically be enrolled in Medicare. Part A will be free. Part B costs
$148.50 per month in 2021, plus an additional amount if your income is over the
threshold ($88,000 for single filers, $176,000 for joint filers). If you do not want
Part B (say you have employer insurance that pays primary to Medicare), you can
decline it.  You become eligible for Medicare beginning at age 65. If you are receiving Social Security, you will automatically be enrolled in Medicare. Part A will be free. Part B costs $148.50 per month in 2021, plus an additional amount if your income is over the
threshold ($88,000 for single filers, $176,000 for joint filers). 

Some people think Medicare is a free government benefit. It’s not. Only Part
A, which covers part of the cost of hospitalizations, is free if you or your spouse
paid into Social Security for at least 10 years. There are also deductibles and coinsurance amounts. This is why most people get supplemental
insurance. You could get a comprehensive Medigap policy for around $200 a month, plus a drug plan for about $40. This would provide fairly comprehensive coverage that would cover all of your deductibles and the 20% coinsurance. It would not, however, coverdental, vision, or hearing care. And if you are on an expensive drug regimen, you may pay more for your prescriptions.

The main point is that people should not retire until they know how much their health
care will cost in retirement. Medicare is a good government benefit, but it is not free,
and it does not cover all out-of-pocket costs.

No. Medicare covers up to 100 days of skilled nursing care only, and that’s
following a hospitalization and based on doctor’s orders. Medicare does not cover
custodial care at all. This is the type of care older people need when they have trouble
bathing and dressing themselves. Medicare won’t pay for it.