Travel Question On Medicare
Oct 22nd, 2004, 06:53 PM
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The Medicare primer:
1. You must be 65 to apply for Medicare. As noted above, you should receive something in the mail from Medicare about 3 months before you are eligible.
2. Medicare A covers everyone with very basic care.
3. Medicare B is a premium for additional coverage that is taken out of your Social Security check. If you are not taking SS, I'm not sure how that is handled. Part B premiums have gone up from $45 a month in 2000 to $78 in 2005. Everyone should take Part B.
4. Beyond that, you will need a supplemental plan (often called "medigap"), such as Blue Cross. You will probably gets lots of stuff in the mail from companies wanting your business. HOWEVER, you must enroll in Part B to qualify for a medigap plan.
5. Medicare has a $100 year deductible. Beyond that, try to find doctors who will take Medicare rates or you may be stuck paying the extra costs.
6. Even if your company still existed and continued your medical insurance after you retired, the insurance company would require you to take Medicare A&B. The medigap fills in after those are exhausted. Our premiums actually went UP after retirement because of the additional premiums for Part B (in addition to paying for our continuing BCBS). The BCBS premium did not go down a single penny, but the coverage is greater.
The best advice is given many times above: Go to the Social Security office now--at least six months before you turn 65. In fact, you really should be drawing SS now if you're not working. The cost-benefit analysis favors those who retire at 62. You're losing money by delaying.
1. You must be 65 to apply for Medicare. As noted above, you should receive something in the mail from Medicare about 3 months before you are eligible.
2. Medicare A covers everyone with very basic care.
3. Medicare B is a premium for additional coverage that is taken out of your Social Security check. If you are not taking SS, I'm not sure how that is handled. Part B premiums have gone up from $45 a month in 2000 to $78 in 2005. Everyone should take Part B.
4. Beyond that, you will need a supplemental plan (often called "medigap"), such as Blue Cross. You will probably gets lots of stuff in the mail from companies wanting your business. HOWEVER, you must enroll in Part B to qualify for a medigap plan.
5. Medicare has a $100 year deductible. Beyond that, try to find doctors who will take Medicare rates or you may be stuck paying the extra costs.
6. Even if your company still existed and continued your medical insurance after you retired, the insurance company would require you to take Medicare A&B. The medigap fills in after those are exhausted. Our premiums actually went UP after retirement because of the additional premiums for Part B (in addition to paying for our continuing BCBS). The BCBS premium did not go down a single penny, but the coverage is greater.
The best advice is given many times above: Go to the Social Security office now--at least six months before you turn 65. In fact, you really should be drawing SS now if you're not working. The cost-benefit analysis favors those who retire at 62. You're losing money by delaying.
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PatrickLondon
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Jan 26th, 2006 05:47 AM
