Asked anonymously
My husband is currently covered under my health insurance plan Anthem Blue Cross /PPO. He will be 65 years old in Oct. 2015.
He should be eligible for medicare not sure which part? Can you please advise what I need to be reviewing regarding Medicare Plans & Primary Health Care Insurance Plans Available for 65 years .
Answers | 2
Answered by
MoneyTips Writing Staff, Financial Adviser in Los Angeles, CA
$commenter.renderDisplayableName() | 04.23.18 @ 17:08
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Answered by
Peter Navarra, Insurance Agent in Torrance, CA
When your husband turns 65 in October, 2015 he will receive Part-A for free. He will have to buy Part-B which usually costs around $106 per month depending on income.
Once he buys Part-B he is eligible to keep the Original Medicare, Parts A&B, for his medical coverage and he can buy Part-D for prescriptions (Rx).
Or::
1). He can convert Part-A and Part-B to a Medicare Advantage Plan (HMO), usually at no monthly charge, and this plan replaces Original Medicare and Includes Part-D (RX)......most carriers offer these plans.
2.) He can buy a Supplement Plan that pays over and above what Parts A&B pay and he would still need to buy Part-D for RX.
He can apply for Part-B two (2) months before his 65th birthday, and up to 2 months after. There are penalties for not applying unless he has Group Medical Insurance, then there is no penalty for waiting to apply for Part-B when he retires and gives up the group coverage.
The same applies with Part-D for drugs.....if he waits, there's a 1% per month penalty for not buying it, unless he's on a Group Plan or buys a Medicare Advantage plan which includes Rx.
I hope this makes sense.
Once he buys Part-B he is eligible to keep the Original Medicare, Parts A&B, for his medical coverage and he can buy Part-D for prescriptions (Rx).
Or::
1). He can convert Part-A and Part-B to a Medicare Advantage Plan (HMO), usually at no monthly charge, and this plan replaces Original Medicare and Includes Part-D (RX)......most carriers offer these plans.
2.) He can buy a Supplement Plan that pays over and above what Parts A&B pay and he would still need to buy Part-D for RX.
He can apply for Part-B two (2) months before his 65th birthday, and up to 2 months after. There are penalties for not applying unless he has Group Medical Insurance, then there is no penalty for waiting to apply for Part-B when he retires and gives up the group coverage.
The same applies with Part-D for drugs.....if he waits, there's a 1% per month penalty for not buying it, unless he's on a Group Plan or buys a Medicare Advantage plan which includes Rx.
I hope this makes sense.
$commenter.renderDisplayableName() | 04.23.18 @ 17:08
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