I found it incredibly easy to apply for regular Medicare online (Part A). Yes, you should apply 60+ days prior to when you need it to be effective. Deciding on medicap and Rx plans does require some significant research, however.
There is no cost for Part A, so it doesn’t matter if you are receiving SS benefits or not…
IRMMA is also a good thing to remember if/when doing any tIRA to Roth conversions prior to RMDs.
Sharing in case it is helpful to someone.
Social Security Tips for Working Retirees
https://www.fidelity.com/viewpoints/retirement/social-security-and-working?ccsource=email_weekly
Under current Medicare, employers can offer or subsidize additional coverage for their retirees or current employees. Under a theoretical Medicare for all, why would this be different?
Of course, whether or not that happens, simplifying Medicare may be worth considering, although it should be realized that the basic benefit is less than typical >65 medical care costs (but does give people the ability to be insured without problems relating to pre existing conditions that many >65 people have).
Igloo, there is a form on- line to fill out. There is place for an explanation. We also sent our taxes from the past two-three years and a statement that explained that that is our normal and this year will reflect that again. We had no idea if our appeal would be approved and were thrilled when it was. You really don’t have anything to lose. Make sure you get the correct form as H submitted the wrong one at first and SS called and walked him through it (a wonderful surprise). Good luck!
I’m confused. If one has an employer paid plan with low costs, why would one sign up for medicare in the first place? (No Medicare = no IRMMA impact.) Why not hold off on Medicare until retirement from employer?
That’s only if you stay with the plan that you choose on your 65th birthday. Swapping into a ‘richer’ benefit plan later can be cause for a medical check for pre-existing conditions. (California has the birthday rule which allows a resident to swap into any plan within 30 days of their BD.)
“why would one sign up for medicare in the first place?”
there are few employer health care plans that cover 100% of ALL hospitalization costs, which can amount to hundreds of thousand of $$ in short order.
The tax brackets are a whole lot lower too! (Another reason to consider tIRA-Roth conversions, at least up to the IRMMA limit.)
Some insurers change the way they reimburse once you reach 65 as well — good to read terms if your plan. My H didn’t buy Medicare B until he retired. Because he already had A, we had to mail in forms for B and it was initially not processed—we had to go down to the SS office and ask. The clerk said we didn’t submit the proper paperwork but couldn’t explain what was wrong. He gave us back the unprocessed paperwork.
The next day, H went back and took the paperwork to another clerk there who processed the SAME papers on the spot and found nothing wrong with them! Crazy!
“can be cause for a medical check for pre-existing conditions”
Huh?
If you change your plans and your old Dr is not covered by your new plan, then you will have to have an initial “establishment of care” Dr’s appt… But that has nothing to do with specifically “checking for “pre existing” conditions”.
@CountingDown - she has named dh and sil as her beneficiaries, so I have to assume the monies don’t revert back to the company. I don’t know anything about termination fees???
ml-mom:
sorry, I meant Part B medigap plans.
If one enrolls in say, in a low cost higher deductible medicap plan and later wants to change to the richer F/G, one may have to answer pre-existing condition questions…similarly, if one enrolls in Medicare Advantage and wants to move to F/G later. (yeah, I know F is going away.)
Employer plan may have a provision that when the employee turns 65, it changes to a plan that supplements Medicare. Why would an employer continue to pay for a full medical insurance plan when it can put the employee on Medicare for the government to cover part of the cost?
this is an important article for those interested in putting $$ into annuitants
Darn, I can’t read the article without a subscription
Yes about WSJ article - sometimes someone with a subscription can put a link up that will work for others…
We purchased some annuities as we are approaching retirement and needed to have our portfolio risk ratio be at a comfort level for us. Our fiduciary financial guy had done the research and made a recommendation at the times when we had the retirement funds to invest in annuities.We purchased from two different insurance companies over time - lump sum with each purchase - known insurance companies (Nationwide, Allianz). With the guaranteed rates in the contract, we are doing better than purchasing bonds.
The annuities on the market - it is a bit like finding a needle in a haystack for the ‘right’ one, and we were comfortable with the recommendations our financial guy provided.
Certainly on this thread there are some financially savvy investors that know many details in particular investments. We have a trusted financial guy that does the research - yes he earns a commission, but we are doing much better with him than without him. SWAN.
One can research annuities one self, or getting recommendations from trusted sources.
http://www.annuityresources.org/11-annuity-tips/ Even this quick tip sheet wants to lead you to a free report on shopping annuities…
https://www.annuity.org/annuities/how-they-work/ Has research sources and can see other articles on the topic.
On adult braces covered by insurance - DD works for a VA Hospital, and she has several dental plans in her list, and one will pay for adult braces (SIL needs). However until they know they will live a particular place long enough for the duration of braces…his teeth alignment will eventually affect his health, so it needs to be done. Already had his wisdom teeth out under her insurance and their co-pays…
@bookworm- If you are interested in going to a dental school orthodontist program, one thing to be aware of is that it may not be as fast as going to someone in private practice. I am going through braces a second time, and I was a bit resistant to the idea when my new dentist strongly encouraged me to see an orthodontist. I did some research and decided to contact a local dental school as they had free initial consultations and I felt that they would give good advice (without any profit motive) in terms of how necessary it was and possibly recommendations on who to see. Even if you want to go through the dental school, they may or may not have need for a case that you present as they are trying to give the students a variety of situations to give them a good background for going on to private practice. They thought I was a good case for their needs, so they accepted me into the program (I had a pretty complicated case, as it turns out). The time between my initial consultation and getting braces was about 4 months however as it took time to be assigned to a student and then for the full treatment plan to be prepared. I don’t know if it is a bargain (in the $4,500-$5,000 range), but I will say that it is the cheapest medical care I’ve received on a per hour basis. When I go in for an appointment it often takes 1-2 hours because I see the student, and then it is reviewed with the assigned faculty member, and then any adjustments are made. I’ve enjoyed the process as they take the time to explain things, but it wouldn’t be the best idea for someone who doesn’t have much free time in their schedule. Orthodontia often takes about 2 years with appointments every 4-6 weeks with perhaps a few extra thrown in because of an issue that needs more immediate attention (like a broken bracket or something rough tearing at your cheeks). Also, some routine appointments get delayed because both the assigned student and assigned faculty member need to be there and they have the school breaks between quarters or semesters,spring break etc. Feel free to PM me if you have any questions.
Thx woodsmom. I have a patient needing implants and she was thrilled that I passed on the info about the dental school. It wouldn’t work for me, as I still work.
I’m just so turned off by the orthodontist group. Somehow they are posting on my FB, sending messages and forms to fill out. So commercial.
Did I mention that we, meaning my dentist father &I, interviewed 5 orthodontists before accepting the last one?
The head of the current practice was one “we” interviewed and rejected. My dad disliked all these pediatric dentists that said baby teeth needed to be pulled, which he felt traumatized the children. Refused to let me take son to any of them. Sure enough, the kids in my carpool had baby teeth pulled, paying $$$ to go to an office with fancy chairs and kid toys, including Nintendo.
My dad loved my son’s orthodontist, 1/2 hour away at best. He would let my dad in the back, and demonstrate the new techniques he used. Did I mention they both went to UPenn? And same summer job in the Catskills? And this man is the creator of the current bite plate used all around the world?
I’m only adding this little bit of info to demonstrate just how negative I am to the idea of orthodontia at my age. And how I feel I’ll be sold a pile of garbage.