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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.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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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting 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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