Admit it. It's all become a blur you wish would just go away. You have gone blind with mailings and deaf with all the calls. 'If one more person calls me about Medicare..."
We all get them. But WHY?
Because there are still millions upon millions of people who should be getting benefits, but are not. That is the short answer.
The longer answer is that Centers for Medicare Services (CMS) expects you to work with a licensed agent to get the information you need. Some of it is unfortunately in the "fine print" of your "Medicare & You" official Government Handbook. WARNING: CMS AGENTS ARE GENERALLY NOT LICENSED.
Lets talk about the elephant you never see coming until it steps on your finances: The Prescription Drug Plan PENALTY.
This seemingly harmless sentence is on page 69 of the Medicare & You handbook: ""you'll likely pay a late enrollment penalty if you join a plan later" in bold text followed by "Generally, you'll pay this penalty for as long as you have Mediare drug coverage."
What this means is that
** whether you NEED a drug plan or NOT you MUST get one when you turn 65
** UNLESS you have other creditable coverage - like VA or company, union, retirement or other drug coverage
** and you keep that in-force until you LEAVE that plan and take a Medicare PDP (prescription drug plan).
That penalty is a whopper: 1% PER MONTH for every month you DON'T have drug coverage from the time you turn 65.
That's 1% of the average PDP plan cost across the U.S. and it changes every year. See page 83 for more specific information. T
HE AVERAGE COST OF A DRUG PLAN IN THE USE IS ABOUT $35 BUCKS.
So 1% compounded monthly .... do the math. By the time you hit your 80's that penalty is about $250. a month.
This is just one of many reasons you need a Licensed Agent to guide you through the Medicare jungle.
Medicare & You pages 79-90 is the drug section - and it's a ton of information.
But like you, I'd rather have a latte, a Diet Coke, or an O'Doul's and have someone else ask a dozen questions, find the right plan, and help me stay out of trouble.
Boomers rock. And sometimes we roll... over. But you shouldn't this time.
When it comes to Medicare you can't afford that.
If you're tired of the calls, reach out to Medicare Thrive and use the code 4380. Once you're squared away, you can stop answering those annoying calls.
This site has a contact page - or just call
30-999-2271 and talk or text with Amelia
or call our appointment manager, Cheryl Florence at 318.510.5800.
U.S. based service, Veteran & Woman-Owned, we speak English, Cajun, and a little Tex Mex.
After all...we're boomer just like you.