Description
Book Synopsis“The decisions you make when you sign up for Medicare can impact your costs — and your quality of care — for the rest of your life. No one gives better advice about Medicare than Diane Omdahl. “ — Terry Savage, Author of The Savage Truth on Money and Nationally Syndicated Financial Columnist
Get the most out of Medicare. Get your maximum earned benefits for yourself and your family.
Every day, over 10,000 Americans will become eligible for Medicare, but most of us don’t even know the basics. When do I enroll? What does it cover? Do I need Part B? You could watch the commercials or reply to direct mail. You could ask your best friend. Or you can take charge of these very important decisions and READ THIS BOOK!
Medicare expert Diane J. Omdahl will take you through all the steps to making the right decisions at the right time. Avoid costly mistakes and scams and ensure that Medicare works for you.
Trade ReviewPraise for MEDICARE FOR YOU: A Smart Person's Guide by Diane J. Omdahl RN MS
“The decisions you make when you sign up for Medicare can impact your costs — and your quality of care — for the rest of your life. No one gives better advice about Medicare than Diane Omdahl. “ — Terry Savage, Author of The Savage Truth on Money and Nationally Syndicated Financial Columnist
“Pick up this book, and you are 235 pages away from having real expertise in our Medicare options, enrollment issues and the inevitable complexities of navigating a government plan.” — Bob Veres, “Inside Information” Newsletter
Table of ContentsTABLE OF CONTENTS to Medicare For You: A Smart Person's Guide by Diane J. Omdahl, RN, MSGET MEDICARE RIGHT IN 7 EASY STEPS
INTRODUCTION
STEP ONE: PREPARE FOR MEDICARE
Learn the terms.
- Medicare Part A, B, D.
- Medicare supplement plan.
- Medicare Advantage plan.
- Guaranteed issue right.
Buy a bigger mailbox. Get another recycling bin. Put new batteries in your remote control.
- Facts about TV ads.
- Resist calling the phone number on the screen.
Establish or update your healthcare power of attorney.
Confirm your eligibility for Medicare.
- Eligible to enroll in Medicare.
- Eligible for premium-free Part A.
Create a my Social Security account.
Know when to take action.
STEP TWO: DETERMINE YOUR TIMING
Three enrollment periods that are for getting into Medicare.
Initial Enrollment Period - everyone must pay attention.
- Myth: must enroll at age 65.
- Guidance for specific situations
- Receiving Social Security benefits before age 65.
- Giving up coverage or no coverage.
- Employer group health plan.
- 20 or more employees.
- Fewer than 20 employees.
- Keeping coverage after age 65.
- HSA
- Creditable drug coverage.
- Other types of coverage (COBRA, individual, retiree, VA).
- Enrollment instructions.
Part B Special Enrollment Period -for those who could delay enrollment.
- Who qualifies.
- Enrollment instructions.
General Enrollment Period - oops, you’re too late.
- Enrollment instructions.
- Late enrollment penalty.
STEP THREE: GET TO KNOW THE PARTS OF MEDICARE
Confusion: Medicare has four parts.
Medicare has three parts and they combine to make two paths.
First the three parts.
- Medicare Part A.
- Medicare Part B.
- Medicare Part D.
Then the paths (introduction).
- Original Medicare.
- Medicare Advantage.
STEP FOUR: PICK YOUR BEST MEDICARE PATH (HOW THEY WORK)
Original Medicare
- Medicare supplement (Medigap policy) and Part D drug plan.
- Physicians, rules.
Medicare Advantage
- Types of plans.
- Networks.
- Coverage rules
- Out-of-pocket maximum.
- Medicare giveback.
- Extra benefits.
Changing paths down the road.
- Guaranteed issue right.
- 46 states and NY, CT, MA, ME.
- Medigap OEP.
- Medicare Advantage Trial Period.
- When to change paths.
- Open Enrollment Period.
- Medicare Advantage Open Enrollment Period.
- Other opportunities.
- Moving out of plan’s service area.
STEP FIVE: LIVING WITH MEDICARE
Part D drug coverage.
- Networks, preferred and standard pharmacies.
- Tiers of drugs.
- Formulary.
- Payment stages.
- Drug plan deductible.
- Donut hole.
- $35 insulin.
Medicare costs.
- Part B premium.
- Medicare supplement, drug plan, Advantage plan.
- Premiums.
- EOB.
- Medicare summary notice.
IRMAA.
- Life-changing event.
- One-time income.
Preventive services.
- Welcome to Medicare visit.
- Annual wellness visit.
- Vaccines.
- Part B - flu, pneumonia, COVID.
- Part D - shingles.
Moving.
POA not enough
- Medicare representative.
- Plan representative.
Medicare scams.
STEP SIX: KNOW WHEN YOU NEED MORE HELP
SSDI.
Not eligible for premium-free Part A.
Domestic partner.
FEHB.
Coverage after employment ends.
- COBRA.
- Retiree plan.
- VA, TFL.
Expatriate.
HSA.
Appeals.
STEP SEVEN: PAY ATTENTION TO COVERAGE EVERY YEAR
Open Enrollment periods.
Notice of changes.
Update Social Security information
INDEX
REFERENCES
