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Dianne Williams Wildt, MBA
Certified Retirement Counselor®
Since 1983 in the financial services and investment industry
Retirement Pathways, Inc.
4500 Bowling Blvd., Suite 100
Louisville, KY 40207
Phone: 502-797-1258
Email: dianne@retirementpathways.com
Website: www.retirementpathways.com
If you’re nearing age 65, one rite of passage will include making your way through the health insurance maze known as Medicare. Here are some basics you’ll need to know.
If you are at least age 65 and you have insurance through your employer or your spouse’s, you generally don’t have to sign up until you lose that insurance. You can opt to sign up for Medicare anytime you have union or employer health coverage or during a special eight-month enrollment period beginning the month after employer or union group health plan coverage ends or when employment ends, whichever comes first.
If you don’t sign up for Part A or Part B when first eligible and you don’t qualify for a special enrollment period, you may have to wait until the Medicare general enrollment period, which is from January 1 through March 31. This coverage would then start July 1 of that year. In most cases, you’ll have to pay a permanent late enrollment penalty for as long as you have Part B.
Additionally, you will likely want to explore buying a Medigap policy, which pays for services not covered by Medicare such as eye exams and dental work, while paying for at least a portion of often-high Medicare deductibles and coinsurance.
Alternatively, you can combine your coverage through Medicare Advantage, an HMO offered by private insurance companies. Work with a qualified health insurance professional to learn more.
*https://www.cms.gov/newsroom/fact-sheets/2019-medicare-parts-b-premiums-and-deductibles
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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
Retirement Pathways, Inc. and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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