A blog about Medicare. What you and your employees need to know
What Does Oprah Have in Common with 3 Million Americans?
Author: Lora Drummond
Medicare Transition Specialist
Oprah Winfrey, Reba McIntyre, and Kris Jenner are among the celebrities blowing out candles to celebrate turning 65 this year and will become eligible for Medicare along with 3 million other Americans. Included in that number of eligibles are your own “celebrity” company performers who are continuing to work past their 65th birthday. When they ask about Medicare are you ready to guide them?
In Maricopa County in the state of Arizona alone, there are:
– 56 Medicare Advantage plans offered by 15 different insurance companies in 28 networks.
– 31 Drug plans offered by 12 different insurance companies
– 60+ Medigap plans to choose from
When it comes to advising on Medicare coverage, there are over 5,000 benefit combinations that a member can choose from. And, those offerings are also different across the nation and by country and zip code.
90% of eligible-employees can realize a cost-savings for transitioning to Medicare! But undertaking comparing that number of benefit option combinations with individual needs might cause folks to avoid discussing it with their trusted HR partner.
A Certified Medicare Planner™ can help with those conversations. And if they are licensed with ALL the insurance companies, they can use technology to help match the best plan with an individual’s needs. A Tool like a Blueprint Builder™ will “automagically” provide all the plans available in a beneficiary’s area and narrow down choices to match their needs from all those thousands of combinations!
To Defer or Not to Defer Enrollment
Remember it’s ok for your employees to defer enrollment if they are still working after 65 and covered under the employer’s creditable group plan.
But it never hurts to compare group plan costs against Medicare.
You might give your employees a nice birthday gift in savings by showing them the benefits of transitioning to Medicare when they are eligible.
Want to avoid all the Medicare hassles? Consider partnering with a Medicare Transition Team. Maybe one with Certified Medicare Planners to help your employees. Certified Medicare Planners are trained to provide the tools and technology your employees need to confidently transition to Medicare with no penalties or reduction in options.
Subscribe to Medicare@work
Other Posts from Medicare@work
Meet Sr. Advisor Marc Frye in our continuing Advisor spotlight series
When turning 65 employees have more options to consider for thier healthcare. Work with a Medicare transition team to support those discussions.
Another Advisor Spotlight Interview- Meet Associate Sr. Advisor David Edge
Make sure you have confident support and know all your options for health benefits when you are turning 65.
Ian will be a featured panelist at a SHRMGP event.
An Interview Series- Spotlight Interview- Meet Wonderfully Multifaceted Sr. Advisor Sharon Colbert-Groves
Interview Series- Spotlight Interview – Meet Sharon Groves an advisor and Certified Medicare Planner
A Medicare vlog- interview with Medicare expert and best selling author David P. Schaeffer
Announcing the “65 and Counting” Talk Show! A weekly presentation of retirement talk to educate and entertain!
Medicare@workA blog about Medicare. What you and your employees need to knowGive Us an Hour and We Can Make You a Medicare SuperheroAuthor: Lora Drummond Medicare Transition Specialist Posted: 05/18/2020 Human Resource Professionals … do you need a SHRM PDC...
Medicare@workA blog about Medicare. What you and your employees need to knowInsurance Tug-Of-War: How to Get the Winning StrategyAuthor: Lora Drummond Medicare Transition Specialist Posted: 05/11/2020When you work with a Medicare transition team you get...well... A...