A blog about Medicare. What you and your employees need to know
Freedom to Choose
Author: Lora Drummond
Medicare Transition Specialist
[26 -52 Solution Series] – Freedom to Choose
Did You Know…
- …The first July 4th celebration took place at the White House in 1801, hosted by Thomas Jefferson?
- …Independence Day became a federal holiday in 1870, but not a paid holiday until 1941?
- …Calvin Coolidge is the only U.S. president who was born on the Fourth of July, but three presidents died on the Fourth of July: Thomas Jefferson – July 4, 1826, John Adams – July 4, 1826, and James Monroe – July 4, 1831.
And…Did you know that turning 65 opens new freedom of choice for healthcare benefits?
For An Employee…
…Turning 65 and still working: Medicare should be an option to consider. It makes great sense to compare group plan costs and benefits to Medicare. If the math and your needs make sense to transition to Medicare and you are approaching eligible age for Medicare, you can move off your group plan. A Certified Medicare Planner® should provide a blueprint of ALL the plan options in your area and important enrollment dates. That way you can compare your options to make a decision that meets your needs.
…Past age 65 and planning retirement: If you are past age 65 and still working but considering retirement soon, consulting with a Medicare specialist like a Certified Medicare Planner® also makes good sense. During a free consultation, an advisor can review important questions about income, HSA contributions, and identify the important enrollment dates and documents you would need when you do leave your employer plan. Thoughtful planning lessens the likelihood of surprises or penalties later. We help you enjoy a smooth transition to your next chapter in retirement!
…Medicare options: Group plans are created for a group of employees. But when you consider Medicare for your health benefit you open more options for benefit choices based on YOUR specific needs.
- Any doctor/Any hospital – 95% of doctors participate in Medicare Supplement plans
- There is no copay, deductible, or out of pocket max with Supplement plans (Must pay Part B deductible of $203)
- There are many plans to choose from. There are potentially 5000 Medicare plan combinations depending on where you live. That’s a lot of choices!
- Advantage plans offer networks but usually combine medical, drug plan, and other options similar to a group plan offering for little or no premium, plus some cover dental, vision, and other benefit goodies.
For An Employer…
…Medicare in the benefits/exit packages: Providing Medicare clearly as an option for an aging workforce creates a comfortable and compliant opportunity for employees to consider transitioning when they are eligible and still working. And when they are planning for retirement!. Employees can properly plan the medical benefit to choose because they have been given transparent options.
…Medicare Education: Providing Medicare education and resources for guidance creates a transparent Medicare benefit opportunity. It’s positioned as the same clear option as group plans. (We can help with providing free web resources and workshops dedicated to YOUR employees).
…Medicare Transition Team: Partnering with Medicare experts provides a comfortable and compliant source for employees to gain insight and guidance when considering Medicare and when leaving an employer. This limits errors in benefits management later and supports the benefit life-cycle from hiring to exiting with full benefit support. In the case of our clients, we create a relationship from transition to annual reviews with proactive outreach to ensure client needs are continuing to be met are each enrollment opportunity. Just like the support they had when actively working!
…Personal support and a relationship: Your employees talk to a dedicated team of experts rather than navigating a government website alone or call center when you partner with a team of Medicare transition experts.
Medicare guidance for your employees in 2021.
When there is an opportunity of choice, partner with Certified Medicare Planners® for Medicare transition because they will provide employees with fiduciary support and:
- There is no fee for their services
- Provide non-bias guidance
- Carrier-agnostic analytic processes for providing all Medicare options in a particular market
- Educational workshops on the basics of Medicare for both HR teams and employees
- Whether you have one or 100 employees who need Medicare – We Can Help!
Create a compliant Medicare benefit support plan. Give your employees personal guidance from a team of experts that will follow them after they retire.
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