Medicare Options at Age 65

Medicare Options at Age 65

by Kristin P. Sinclair   February 20, 2020

Group Health Insurance for those working beyond 65 year of age, benefit from both what Medicare offers plus what their group health plan offers.  Caution – avoid an HSA qualifying plan because a Medicare Beneficiary is not able to contribute to an HSA.

Retiree Health Plans were quite common with Large Group Employer retirement benefits. Changes in the last 10 plus years have fewer large groups that offer coverage to their many retirees.  Today these plans tend to more resemble those plans that most people are able to find on their own.  Just with a connection to the former employer.

Your open enrollment period is the best time to choose your Medicare Supplement Plan.  When leaving your group health plan you enter a time called your Special Enrollment Period.  In this Special Enrollment Period your medical background is subject to only limited underwriting.  You must answer only a few health questions.  Once you have your Medicare Supplement policy is issued then your coverage is in place. You pay your premiums when due and your coverage is guaranteed for life.  Medicare is the primary payer and the Medicare Supplement you have chosen pays toward the gaps in the Original Medicare.  There are a variety of standardized Medicare Supplement plans available.  Please phone Kristin today (803)329-0615 to discuss your Medicare Supplement options.      

Do you qualify for Veteran Benefits for service to country ?  This depends on several factors: how long you served, and where and when you served determine whether you are an eligible beneficiary of Veterans Benefits when you use the Veterans Facilities.  

When you use the Civilian facilities you are using the original Medicare; however, there is a trial program taking place that some Veterans are able to use Civilian providers with their Veterans Benefits.  Since this is a study program and is not yet the new normal.  Usually these veterans benefits take place at a VA facility and the Medicare benefits take place at a civilian facility.

Tricare Benefits are an example of coverage of the Career Military having a fabulous program called Tricare that can be their supplement to their Medicare benefits.  Many veterans can use VA providers and civilian providers.  This is a coverage option that most others will not have available to them.  Once again, career military and their spouse have earned certain benefits for their extended service to country.

Champus is also a military service related coverage that works as a supplement to Medicare.  For more information on insurances to supplement your Medicare Insurance please phone Kristin at (803)329-0615.  

Kristin P. Sinclair   February 20, 2020

Written in Charlotte NC and Rock Hill SC