Medicare Part D & Employer Coverage.flv

Medicare Part D & Employer Coverage.flv


>>KINSTON CALLER: YES, WHEN
YOU TURN 65 AND ENROLL IN MEDICARE AND STILL WORKING FULL TIME AND
YOU HAVE YOUR COMPANY PROVIDES YOUR INSURANCE,
AND THEY PAY FOR YOUR PRESCRIPTION DRUGS, DO YOU STILL
NEED TO APPLY FOR PART D AT THAT TIME?>>BARRY MOWBRAY: NO.
AND ACTUALLY IF YOU HAVE DRUG COVERAGE THROUGH AN EMPLOYER,
YOU ACTUALLY, ALSO IF YOU’RE COVERED BY AN EMPLOYER GROUP PLAN AND
YOU’RE 65, AND THAT EMPLOYER HAS MORE THAN 20 EMPLOYEES, THAT
INSURANCE WILL BE YOUR PRIMARY INSURANCE BY LAW.
AND MEDICARE, IF YOU DECIDE TO ACCEPT PART B OF MEDICARE, WHICH
YOU PAY FOR, WILL BE SECONDARY. MEDICARE LAW ALLOWS YOU TO DELAY
ENROLLMENT IN PART B OF MEDICARE IF YOU ARE COVERED BY AN
EMPLOYER GROUP PLAN WITH MORE THAN 20 EMPLOYEES, AND GET IN
WHENEVER THAT EMPLOYMENT CEASES AND YOU’RE NOT PENALIZED IN ANY
WAY. ALL THE RIGHTS YOU WOULD HAVE HAD AT 65 WILL FOLLOW YOU AND
REOCCUR WHEN THAT EMPLOYER COVERAGE ENDS. SO IT MAY BE THAT
YOU DON’T YOU MAY HAVE MORE INSURANCE THAN YOU NEED, SO TO SPEAK.
I WOULD SUGGEST YOU CONTACT THE 800 NUMBER AND HAVE A DISCUSSION
WITH THEM, OR YOUR LOCAL SHIIP COORDINATING SITE, BECAUSE YOU
MAY HAVE MORE INSURANCE THAN YOU NEED AT THIS POINT.
WHEN MEDICARE IS SECONDARY INSURANCE, IT SELDOM PAYS
ANYTHING, BECAUSE OF THE WAY THEY CALCULATE THEIR
RESPONSIBILITY. WHEN MEDICARE IS SECONDARY, THEY
COMPARE WHAT YOUR PRIMARY INSURANCE PAYS TO WHAT THEY
WOULD HAVE PAID IF THEY WERE PRIMARY, AND THEN ONLY PAY IF
THERE IS A DIFFERENCE. PART A, IF IT IS PREMIUM FREE,
IT DOESN’T MATTER THAT YOU HAVE IT, IT DOESN’T COST YOU
ANYTHING. BUT MEDICARE OFFERS YOU THE OPPORTUNITY TO DELAY PART B
UNTIL YOU ACTUALLY NEED IT AS PRIMARY INSURANCE.

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