As you approach your 65th birthday, enrolling in Medicare can feel overwhelming. In this episode, we’ll walk you through everything you need to know about the enrollment process and your options based on your current health coverage.
- What steps need to be taken to enroll in Medicare as you approach your 65th birthday?
- If you have health coverage through an employer with 20 or more employees, what your options are and how they affect your Medicare choices.
- If you do not have coverage, or have individual coverage or coverage through a small employer.
- Is Enrollment Automatic?
- Clarifying when enrollment in Medicare is automatic and the conditions under which it occurs, specifically when you are drawing Social Security benefits.
- Enrollment Periods:
- Understanding the critical enrollment periods for Medicare and why they matter:
- Initial Enrollment Period (IEP)
- Special Enrollment Period (SEP)
- General Enrollment Period (GEP)
- What If You Miss Your Initial Enrollment Period?
- Consequences of missing the IEP and what to do next based on your coverage situation.
- Employer Plan Considerations:
- If covered by an employer plan, why you may want to delay enrollment during the IEP and utilize the SEP instead.
- If not covered by an employer plan, the need to wait for the GEP.
- How Medicare Works with Other Insurance:
- Insight into how Medicare coordinates with employer-provided health insurance and what you need to know.
- Understanding Medicare Advantage Plans:
- What Medicare Advantage Plans are, how they differ from traditional Medicare, and their coverage options.
- Nate reviews the advantages and disadvantages of these plans, including considerations such as premiums, coverage, networks, and additional benefits.
Join us as we break down the complexities of Medicare enrollment, ensuring you're well-informed and ready to make the best decisions for your health coverage as you transition into this new phase of life.
