I know of a few people lately who still believe you can enroll in part D (drug coverage for Medicare folks) at a later time vs at 65 when you become Medicare eligible. That is true, but it can get expensive. Unless you can prove you had credible coverage when you first became eligible, and that coverage has continued until, for some reason, you need to enroll in Part D, you are subject to a penalty on the premium that is a percentage based on how long it has been since you were eligible, i.e. should have enrolled. The penalty is forever.

My son's in laws ran into this. A friend at the Y ran into this as well. Another well educated Y friend was also under this impression, she said her husband did the research. I happened upon some info in the AARP magazine and handed her the info that explained the "deal."

Confused? Lots of people are. If you only take generic drugs, it's cheaper to buy them outright vs paying a monthly premium, which is why some folks pass on the Part D. BUT if something with your health changes......

If you are one of the "younger" ones here, do your research.

If you decide on a Medicare Advantage plan, your options may differ. If your coverage has continued with your former employer, you may have a different story. Rick has the free Part A, the Part B (with premium taken from SS check), the supplement from Blue Cross (is that part C?) and the part D for drugs. They are always changing the available plans. Some of what was/is available to Rick, as far as supplement plans will not be available to those newly eligible for Medicare in 2020.

I'm no expert on this, and I haven't stayed at a Holiday Inn lately, so if any of what I've posted is in error, feel free to correct me. We've had this discussion before but I didn't bother to bump the thread. Do your homework if you are about to turn 65.

 

I think the whole process is confusing as it can be. FWIW here's my contribution on the topic.

Medicare Supplement (Medigap) Plan [font][freedom to choose] works in tandem with Medicare.[/font]

* Medicare is primary and Medigap is secondary.

* Medigap plans generally have higher premiums with low or no co-payments.

* Advantage plans generally have lower premiums but require co-payments for services.

* We select this over the Advantage plan which is restrictive; you use local doctors & hospitals within an HMO plan

* Purchase Medicare Part D separately for prescription coverage.

 

Tricare for Life solves all these issues.

-- Chuck

 

^^^
Yep, pretty much. And comes at least close to promises made many years ago to those who served in the military.

 

I think it's a bit late for me to join the military serve 20 years and get tri care. I thank those who served and I'm happy you are pleased with your coverages. Well deserved

 

Thank you for your service but that doesn't help most of us much.

 

You had the same opportunity. Not sure why you missed it.

-- Chuck

 

I am going through this, literally, at this time. I start Medicare 1 Jan 20.
Advantage plans tend to be the most economical, but have have some disAdvantages. The biggest being that they are basically HMOs and out of network care can be near impossible. They have the advange of being generally cheaper and many include part D.
.
Signing up for part D is important even if you are not taking "expensive" drugs, as Lainey stated, you only get one chance to sign up without question, if you have a continuation/credible coverage. Also, I believe that you can only sign up for part D during open enrollment, or at eligibility (again, not 100%sure on that).

I have an appointment with an agent on Tuesday and will be signing up for UHC/AARP plan. It's the best option for part C and Wellcare for part D.
I will sign up for a "G", plan, which is most similar to the F that has been discontinued by the by MediCare.

MediCare signup has gotten a bit arcane/difficult to understand for many, luckily, for me, the Sate of New Jersey has an Office on Ageing in each county that will walk you through the entire process. I would check in with your stae and local government, to see if your state offers help.

 

Another Entitlement program........

 

There are "shine" agents available at the council on aging in our communities as well. We had a friend who went through the process ahead of Rick so we had a little bit of insight from him as well. I'm not sure what the "G" /gap plan covers? It looks like it covers perhaps hospital deductibles? More days in the hospital? Fill us in. The Blue Cross coverage Rick has is Core, there is also a Bronze that covers annual deductible ($185) and hospital deductible, too. It's about $100.00 more per month. They no longer can provide plans that cover that $185.00 for those who are eligible for Medicare in 2020.