As the age of sixty five creeps around the corner, many people choose to opt out into cushy retirement, while others view their job positions from a veterinary standpoint and continue to add a few more years of experience. When the big birthday comes around and the candles are blown out, it is advisable to sign up for Part A of Medicare (original) right when it becomes available. For those who are wrapped up in active employer grip insurance, the option of enrolling in Medicare Part B until retirement (or current coverage is lost).
These original Medicare plans don’t include prescription drug coverage, so if your employer group insurance plan doesn’t cover that, it would be advisable to enroll in Part D. A monthly premium is the price tag to pay, but it can be a well discounted sale for those taking prescription drugs anyhow.
On the back of your insurance card, you can find a phone number which upon dialing will connect you to your employer group plan (to find out more about how Medicare works in conjunction with your plan).
A few tasty facts from the bakery of Medicare Part D which will more comprehensive insight on what goes on in the kitchen are as follows:
- Your employer group plan won’t stop assuming the role of the primary payer for any services and benefits received under the premise of you retaining active employer group insurance and being eligible for Medicare.
- Medicare Part B comes with a premium due every month, and in 2012 the minimum was set to $99.90. It makes perfect sense for somebody to play patient and not start up Plan B until retirement or the loss of employer group insurance coverage.
- A majority of the population is exempt from paying a premium every month when it comes to Medicare Part A, so enrolling within this is typically A-O-K.
- There are exceptions to every rule. Always double-check with a representative of your employer group insurance plan before following through with any action. Again, you can find a phone number which upon dialing you will be directly connected to the hotline for your employer group plan on the back of your insurance card.
Although the general guidelines and suggested outlined above can be extremely helpful, coupling it with advanced research and financial advisors is always the safest route to travel upon.