Should you take medicare at age 65?

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Please call my office for free, unbiased assistance. We would love the opportunity to help you if we can! #medicare #medicaresupplement #medicareadvantage #medigap #turning65
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It’s critical for Medicare-eligible individuals to select optimal plans to reduce the likelihood that lack of coverage would prevent smart health care utilization choices, not only for their health outcomes, but also to help keep health care spending in check.

austinbar
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Thanks for the explanation of the changes to the credible Part D company plans. Saw an article on that the other day but wasn't sure what the deal was. I'm still employed so my wide and I are covered by my employer's medical benefits so I've been delaying signing up for Medicare for us till now.

bigal
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Excellent video. thank you.

Is there ever a penalty for not signing up for Medicare part A? I'm turning 65 in a few weeks. This video reinforced my thinking that I am not going to sign up for Medicare Part B any time soon. I still work (for a company with thousands of employees) and will not be retiring for at least a few years. I will confirm that prescription coverage is qualified so I won't be hit with a Part D penalty. Assuming that is the case, then no part B or D for me for years. The question is Part A.

Although Part A is "free" signing up for it (in my case) comes with a huge (25%) penalty. Once I am on any kind of Medicare I can no longer contribute to my HSA. Contributing to my HSA saves me 25% (22% fed tax and 3% state tax that I never have to pay) additionally I never have to pay any tax on the earnings (I know you know all this). I don't want to give up being able to contribute to my HSA unless there is a very good reason to. And the only potential reason I can think of is a permanent Part A penalty for not signing up (like there is under some circumstances for Part B). Are there any circumstances for which a Part A penalty exists? I don't make enough money to have to pay for Part A, so if there is a potential Part A penalty for those people, that wouldn't apply to me.

dave
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If you have an HSA (Health Savings Account) because you have a HDHP (High-Deductible Health Plan) through your employer, you'll need to be aware of the Medicare Part A six-month look-back when you sign up. That may result in a taxable event or a surcharge penalty for the amount you contributed to your HSA in that six-month look-back period, because HSAs don't allow you to have "other insurance" and Medicare Part A is considered to be "other insurance". One more complication to consider.

mitchellmclain
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If you are planning to retire overseas, and do not expect to return to the US (except for short visits), should you sign up for Medicare Parts B & D?

If you do decide to sign up for Medicare Part B, how do you get a Medicare Supplement (Medigap) Plan, if you have no physical residence in the US?

michaeltakayama
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Another helpful video. Do you edit your own videos? Great job!

Insurep
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I’m 65 and have creditable coverage through my husbands employer. I did, however, sign up for part A since it was free. Is it ok that I did that?

karenhorn
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If you are turning 65 but have group coverage through your spouse's employer (over 20 employees) and decide to delay part b & d, when is your next chance to go on it if your spouse doesn't reach 65 for 7 years?

cocochanelno
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I am turning 65 10/30/2024. I am a Federal Employee and I am retiring 12/30/2024. I am retired military and I have Tricare. I also have Blue Cross Blue Shield FEP Blue 104. I also have BCBS FEP Vision option High. I also have GEHA High Option Group ID AA, Self plus spouse. I just went to SSA.GOV and enrolled in Part B yesterday 8/2/2024. I'm confused on what to do. What to keep, and what to drop. I have a few medical issues that require attention, such as heart disease, and I have a Eye disease that is causing retinal detachments, and for that I'm under the care of Johns Hopkins at this time. I hope you can help me! I'm totally lost. I live in Virginia.

MichaelAgee
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At one point you say something like .... if you are actively employed and have creditable coverage (or have one thru spouse's employer) then you should delay part A and B. Why delay Part A which is premium free and provides a secondary coverage.

bkj
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I'm going to retire on my 65th birthday which is this December. Should I enroll this fall and plan on being covered as soon as I retire?

gregkloe
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You said medicare is available on the first day of the month of your 65th birthday. If I already have medicare a/b because of a disability, will medigap be available on the first day of the month of my 65th birthday or will I have to wait for my official birthday? Thanks.

rodger
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I retired at 62, am 63, have my "Marketplace" Health ins with BCBS, do I need at all to mess with medicare at all when I turn 65??? Sounds like another way to extract $$ from our SS benefits if one is healthy:)

crosleyfiver
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As an early retiree, I have to enroll every year between July 15- August 15 for my marketplace insurance to start coverage effective September 1. How do I coordinate my Medicare enrollment if my birthday is December 3 in order to start Medicare coverage effective January 1 without jeopardizing my marketplace coverage? If I enroll in December for January 1 coverage, when should I notify NYS of Health marketplace of January 1 Medicare start date?

Also, does your company provide service in NY?

SusanKim-js
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Hello. My wife and I need to talk to you. What is the best way to contact you, and should we make an appointment?

John-mrh
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Are you licensed in Virginia? I would like your help? Seem like an honest company 😊

ksf
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Can you only enroll in part D or do you have to do A, B and D?

vjmjf
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I elected to use A+B+Gap… it’s better than HDHC.

jons
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