March 14, 2018

Wednesday Off-Topic (Moderated) Open Thread (031418)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.


1 Comment »

  1. Interesting article about Medicare Part B. Everyone nearing retirement should be informed about this, but, it’s the government and apparently they won’t/don’t tell you.

    COBRA, Retiree Plans, VA Benefits Don’t Alleviate Need To Sign Up For Medicare


    Thousands of seniors unwittingly make similar mistakes every year, believing that because they have some type of health insurance, they don’t have to worry about signing up for Medicare Part B. Generally, insurance other than that provided by a current employer will not exempt them from Medicare’s strict enrollment requirements. [...]

    Medicare’s Part B enrollment rules haven’t changed since the program was created in 1965. Seniors can enroll only when they first become eligible — usually three months before and after the month they turn 65 — or when their job-based insurance ends. If they miss this opportunity, they have to wait until the months of January through March to enroll and then coverage only begins July 1. Most won’t be allowed to buy any other health insurance policy during that time.

    And if they delay signing up for 12 or more months after becoming eligible, many will be hit with a permanent penalty added to their Part B monthly premium. In 2014, about 750,000 beneficiaries paid late penalties, raising their Part B premiums an average of 29 percent, according to the Congressional Research Service.


    Comment by Par for the Course — March 14, 2018 @ 11:13 am

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