What happens if you are unsatisfied with the level of coverage and support you get with your current Medicare plan? Are you stuck in that plan forever? Are there benefits to exploring and switching to different Medicare plans? In this episode, you’ll hear from our returning guest, Danielle Kunkle Roberts as we complete our three-part interview covering the ins and outs of Medicare. 

Danielle co-founded Boomer Benefits in 2005 in Fort Worth, TX. Boomer Benefits is an award-winning insurance agency for national insurance carriers such as Blue Cross Blue Shield, Aetna, Cigna, Mutual of Omaha, and many other A-rated carriers. Danielle and her team are licensed in 48 states. To help us better understand Medicare, Danielle has agreed to join me for a three-part interview as we dive into Medicare and explain how to get this massive government program to work for you. 

You don’t want to miss a minute of this episode as Danielle is kind enough to share more from her perspective on what to do and what to avoid when it comes to Medicare and more! 

<>

You will want to hear this episode if you are interested in...

• Danielle joins me to discuss Medicare Open Enrollment [2:00] 
• Why some Medicare plans are no longer available [4:00] 
• Purchasing a supplemental plan [8:30]
• Why HSAs are so helpful. [11:00] 
• Don’t wait before it’s too late! [13:00]
• How Medigap is different in Connecticut [19:00] 
• Connecting with Danielle and her team [22:50]
• Closing thoughts [25:00]

Understanding Medicare Open Enrollment 

Medicare open enrollment – also known as Medicare’s annual election period – runs from October 15 through December 7 each year. According to Danielle, during the Medicare open enrollment period you have the following options available to you: 

• Switch from Original Medicare to Medicare Advantage (as long as you’re enrolled in both Medicare Part A and Part B, and you live in the Medicare Advantage plan’s service area).
• Switch from Medicare Advantage to Original Medicare (plus a Medicare Part D plan, and possibly a Medigap plan).
• Switch from one Medicare Advantage plan to another.
• Switch from one Medicare Part D prescription drug plan to another.
• Enroll in a Medicare Part D plan if you didn’t enroll when you were first eligible for Medicare. If you haven’t maintained other creditable coverage, a late-enrollment penalty may apply.

Unfortunately, the open enrollment period does not apply to Medigap plans. Also, it is important to note that if you didn’t enroll in Medicare when you were first eligible, you cannot use the fall open enrollment period to enroll. Instead, you’ll use the Medicare general enrollment period, which runs from January 1 to March 31.

Medicare’s general enrollment period is for people who didn’t sign up for Medicare Part B when they were first eligible, and who don’t have access to a Medicare Part B special enrollment period. It’s also for people who have to pay a premium for Medicare Part A and didn’t enroll in Part A when they were first eligible.

If you enroll during the general enrollment period, your coverage will take effect July 1.

Make sure to listen to this episode as Danielle expands on the topic of Medicare open enrollment and so much more! 

Resources Mentioned on This Episode

• https://boomerbenefits.com/
• https://www.facebook.com/groups/BoomerBenefits/
• https://boomerbenefits.com/medicare-for-fehb-va-tricare-webinar/
• www.medicare.gov
• https://www.amazon.com/Costly-Medicare-Mistakes-Cant-Afford-ebook/dp/B08GL4FSWC
• Medicare Easy Pay

Connect With Morrissey Wealth Management 

www.MorrisseyWealthManagement.com/contact