“The trouble with retirement is that you never get a day off”
— Abe Lemons
If you are turning 65 then you are probably facing choices regarding health insurance. Jokingly you may have received a ream of health insurance enrollment kits that you placed in file 13. You probably also received your Medicare card, which is commonly referred to as the red, white and blue card. This card entitles the recipient (Medicare beneficiary) to hospital and doctor office visits (Part A & B).
The Medicare program is a national health insurance benefit for people age 65 or older (younger people can qualify also due to being disabled for 24 months or more). Medicare didn’t always exist—-President Lyndon Johnson signed the Medicare Bill into law on July 30, 1965. Former President Harry Truman became the first Medicare beneficiary.
Over the years the program has become stronger and since 2006 has also included a separate prescription drug benefit. Despite the success of the Medicare program it still does not cover 100% of health related cost. As a result many beneficiaries do not choose to use Medicare alone. Instead they select to supplement their benefit with a Medicare supplement plan “medigap” policy or a separate Medicare advantage plan. These are wise decisions because medical expenses that fall outside of what Medicare covers can be a financial nightmare and surprisingly affordable options are available.
As a licensed insurance agent I save my clients money, time and frustration on addressing their health insurance options. I host regular workshops in the community on these matters and would be happy to speak to employee groups who are becoming eligible for Medicare. For more information kindly contact my office to schedule a complimentary appointment.
Medicare Health Plans. Long-Term Care Insurance. Final Expense. Lifetime Income.