Medicare Moments Treat Medicare Part B like GOLDIn this edition of Medicare Moments Toni says: America does not realize that Medicare Part B is as valuable as GOLD and should be treated carefully. When you enroll in Part B the wrong way, it can cause you to not qualify for the Medicare Supplement you desire.
Medicare provides special rules for employees or spouses who are “still working” with “true” company benefits and are covered by the employer group health insurance.
Toni discusses the Medigap Open Enrollment Period and in the 2023 Medicare & You handbook it states, “The best time to buy a Medigap policy is during your 6-month Medigap Open Enrollment Period. During that time, you can buy any Medigap policy sold in your state, even if you have health problems. This period automatically starts the first month you have Medicare Part B (Medical Insurance) and you’re 65 or older. It cannot be changed or repeated. After this enrollment period, you may not be able to buy a Medigap policy. If you’re able to buy one, it may cost more due to past or present health problems.”
Toni explains Tom, the husband, is not under the same Medicare rules because he enrolled in Medicare Part B when he turned 65 over 2 years ago. Now he must answer underwriting questions to qualify for a Medicare Supplement.
Toni stresses: That’s why enrolling in Part B when an enrollee or spouse is “still working” full-time with true company benefits in a timely manner is so important. You want to not only avoid receiving a Medicare Part B penalty. You also want to be able to enroll and be accepted in any Medicare Supplement/Medigap plan due to medical underwriting
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Blessings!
