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Should You Enroll,
and
When?
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Unraveling the Mystery of Medicare
Financial Planning for
Choices and Transitions...
Life is Full of Them.
Tips from BlueShield of Northeastern New York
As adults get closer to turning 65, they receive a
lot of information about Medicare. It can be very
confusing to sift through all of this information.
So, here are some tips.
Medicare Part B
Planning for Medicare
Should You Wait to Enroll in Part B?
Medicare Part B covers medical services, such as primary
doctor or specialist visits. There will be a monthly premium
for Part B based on your income.
It’s important to start reviewing information at least
three months before your 65th birthday. One of the
things you should know is if you are going to continue
working or if you will retire at age 65. Working past
age 65 can affect your decisions about health care.
•
Keep a detailed record of whom you spoke with at Social
Security and what they told you in case there are any issues with
your benefits in the future.
If you are self-employed or your employer has less than 20
employees you will probably need to take Part A and Part B.
To apply for Medicare, contact the Social Security
Administration at 1-800-772-1213 (TTY 1-800-325-0778).
Health care providers, like BlueShield of Northeastern New York,
have representatives available to answer questions and guide you
through the process.
Medicare Part A
Should You Wait to Enroll in Part A?
If you have a health savings account (HSA), you may
not want Part A right away. After you enroll in Part
A, your employer may stop contributing to your
HSA. You should speak to your Human Resource
Department to verify how Part A may change
your benefits.
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S
Bonnie L. Nelson is the district sales manager of
Government Programs at BlueShield of
Northeastern New York. Bonnie has been
servicing the community’s Medicare-eligible
population for more than 28 years.
For more information, call (518) 220-5722
or email [email protected].
Knowledge
IntegrIty
experIence
Mary Stokes, chFc, cdFA, cFp
™
®
certified Financial planner practitioner,
certified divorce Financial Analyst™
™
ELDER LAW &
ESTATE PLANNING
If you’re thinking about declining or delaying enrollment in
Part B, you should:
•
Contact the Social Security Administration to be sure you
understand the rules.
It’s also a good idea to contact the Social Security
Administration to discuss your specific situation.
Visit your local Social Security office, or call
1-800-772-1213 (TTY 1-800-325-0778).
Most people are automatically enrolled in
Medicare Part A when they turn 65. Part A covers
hospitalization. It’s paid for through payroll
deductions when you are working. If you have
been working for 10 years or more, Part A
should not cost you anything.
*Securities offered through Securities America, Inc. Member FInrA/SIpc.
Advisory services offered through Securities America Advisors, Inc. a Sec
registered Investment Advisory Firm, Mary e. Stokes, representative. Stokes
wealth Solutions and the Securities America companies are unaffiliated.
If you or your spouse is still working for a company with 20
or more full-time employees and you get health insurance from
them, you may not need both parts of Medicare when you turn
65. You can delay Part B and pick it up when you retire or if you
lose your employer group health insurance.
If you continue working, your insurance through your
employer (or your spouse’s employer) may seem the
same, but because you’re eligible for Medicare, it may
work differently. That’s why it’s important to contact
your (or your spouse’s) employer to find out how
your insurance works with Medicare.
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