Retirement and Medicare
Are you worried about making the move from your Group Insurance Plan to Medicare or from your Individual Health Insurance Plan to Medicare? Well don’t!!! David Morris and Scott Stanwix are here to help you with this transition to make sure that you have a better understanding and get the peace of mind that you need to move forward with the benefits that you deserve.
Retirement
Some of us will stop working once we hit our full retirement age leaving us questioning ourselves, “Do I keep my group insurance and get Medicare?” or “Do I drop my group insurance plan and just have Medicare only?” These are really great questions to be asking yourself. 12 Stones Financial Services will help you make this decision. We take pride in our work and make sure that we give our clients a better understanding on their benefits and financial situations.
Medicare
WHEN CAN I SIGN UP FOR MEDICARE?
You can sign up for Medicare beginning three months before you turn 65, and coverage can start as soon as the first day of your birthday month. The initial enrollment period lasts until three months after your 65th birthday.
WHAT DOES MEDICARE COVER?
Part A. Also called hospital insurance, Medicare Part A covers the cost if you are admitted to a hospital, skilled nursing facility, or hospice. It also covers some home health services. Most people are enrolled automatically in Part A when they reach age 65
WHAT ARE MEDIGAP PLANS?
Medigap is extra health insurance that you buy from a private company to pay health care costs not covered by Original Medicare, such as co-payments, deductibles, and health care if you travel outside the U.S. Medigap policies don't cover long-term care, such as stays in a nursing facility, or dental care, vision care.
WHAT ARE MEDICARE ADVANTAGE PLANS?
If you have Original Medicare, the government pays for Medicare benefits when you get them. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare. Medicare pays these companies to cover your Medicare benefits.
WHAT IS MEDICARE PART D?
Medicare Part D, also called the Medicare prescription drug benefit, is a United States federal-government program to subsidize the costs of prescription drugs and prescription drug insurance premiums for Medicare beneficiaries.
WHAT ARE MEDICARE ADVANTAGE SPECIAL NEEDS PLANS?
Medicare SNPs are a type of Medicare Advantage Plan (like an HMO or PPO). Medicare SNPs limit membership to people with specific diseases or characteristics, and tailor their benefits, provider choices, and drug formularies to best meet the specific needs of the groups they serve. Find out who can join a Medicare SNP.