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Jeff Chivers
Medicare? ME??? Part 3
A few more insights as we “Age-In” to Medicare
My third post on this subject over the past 9 months.
As a brief review, my first post (October 22 of last year – Forum page 102) covered some Medicare basics; Parts A, B, C & D; the basic costs thereof, when and how to enroll and a few tricky situations that may impact your enrollment timing.
My second post (March 18 of this year, Forum page 113) focused on the pros & cons / features & benefits of the three main Medicare coverage options available following your enrollment:
- Remain on original Medicare Parts A, B & D only
- Enroll in a Medicare Advantage Plan (also known as Medicare Part C) combining Medicare parts A, B, & D in a single plan taking the place of original Medicare (although you must continue to be enrolled in Medicare Parts A & B to qualify for Advantage Plan enrollment).
- Remain on original Medicare Parts A, B & D, with the addition of acquiring a separate Medicare Supplement Plan (also known as a “Medigap” Plan) with plan options covering many or all of the costly coverage “gaps” to which you would otherwise be exposed if enrolled in original Medicare only.
In addition to the three basic coverage choices above, there are strategies and options that may be utilized that can reduce your ongoing monthly premium costs and/or out-of-pocket copay exposure.
To reiterate, I can’t over stress how vital it is that you develop a Medicare strategy to avoid costly mistakes in your initial enrollment that may impact your health choices and pocketbook for the remainder of your life. There are windows of opportunity available only open during your Medicare Initial Enrollment Period that if not taken advantage of may be closed to you - restricting your future coverage options.
As many of you have already discovered, the approach of your 65th birthday will result in your mailbox being jammed and your otherwise being bombarded by those offering their particular solution to your Medicare coverage decision. In light of this clutter, I highly recommend you work with a Medicare coverage professional in evaluating your own unique situation in determining the coverage appropriate for you; taking into consideration your present health, genetic and family health predispositions, your lifestyle, risk tolerance and healthcare budget in making this important decision.
It’s vital that whomever you decide to work with (me or someone else) that that person be knowledgeable, has a broad range of available coverage options, and foremost, someone you know you can trust. There are agents out there with limited Medicare knowledge or (sadly) with the primary motive of pushing products to maximize their commissions rather than looking out for the client’s best interest.
I plan on attending the get-together this coming Saturday August 20, 5-10pm Gerd has organized at Crescent Park in Sandy (230 E 11000 S). I’ll be available to answer any questions you may have and/or set a time when we can meet for a more in-depth review of your situation.
I would enjoy speaking with you anytime - either by phone, email or meeting with you personally, as I have already with a number of our fellow classmates. Contact me anytime.
Jeff Chivers - 801-712-8448 - jfchivers@hotmail.com
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