Did you know we have an in-house, dedicated Medicare specialist?
It’s true! Read on for important tips and information, especially if you are 65 or about to turn 65.
Tip 1: If you are 65 or turning 65 and your Health Insurance is under a Group Plan, if you continue to work Full-Time for a company with more than 20 employees, you may choose to remain on Group Health Insurance and are not required to sign-up for Medicare. If the Company has less than 20 employees, you must sign-up for Medicare or you will pay a penalty when you do so.
Tip 2: You are not required to claim your Social Security Benefits when you sign up for Medicare.
Tip 3: If you decide to claim your Social Security Benefits, you may select to have your Premiums for Medicare Part-B and Medicare Part-D paid out directly from your benefits.
Tip 4: Even if you are not taking any Prescription Medications, by law at 65 years old, you are required to have a credible Prescription Plan with a Group Health Insurance Plan or with Medicare. If you do not, when you Enroll, you will pay a penalty.
Tip 5: The Premium for Medicare Part-B for 2022 is $170, but is Income Rated, so your Premium may be higher. They take into consideration the last 2 years of Income Tax Filings.
If you have questions or want to know more about Medicare or Individual Benefits, contact the pros at Viti – it costs nothing!