If you have paid into the system for at least 40 quarters or 10 years you will receive your part A free and the large majority of people will pay a $170.10 (2022 prices) premium for Part B. For those with higher than average incomes ($91k single/$182k married), premium costs may be higher.
You can sign up for Medicare starting three months prior to the month in which your 65th birthday falls and up to three months after that same month (7-month total period). For example, if your birthday is April 18th, you can make an application on January 1st through July 31st and your effective date will be at the soonest April 1st or the first day of the month after you make an application if later than April 1st. If you miss this window you will need to apply January 1st through March 31st (Medicare open enrollment) of the following year for a future July 1st start date and lifelong penalties may be applied.
Yes, if you are receiving a monthly Social Security check and receiving Medicare benefits, you have no option other than allowing Medicare to debit their monthly premium from your Social Security check. This will happen automatically when you are receiving both benefits simultaneously.
Having original Medicare only opens you up to a tremendous amount of risk in the event that you become seriously ill or injured. Medicare has deductibles and coinsurances, but the most dangerous is the fact that you are responsible for 20% of an unlimited bill. There is no cap on your responsibility and this can devastate your finances.
A Medigap plan, also known as Medicare supplement, is a private insurance contract that is standardized by the Centers for Medicare Services (CMS) that helps Medicare recipients pay the deductibles, coinsurances, and 20% that Medicare does not cover.
Not yet, Unless you are receiving a social security check (which would trigger an automatic monthly withdrawal/payment) Medicare requires your premium to be paid 3 months at a time in advance. Medicare does offer and online auto pay feature, maybe one day soon they will catch up with the rest of the world and offer a monthly option.
John has been taking care of my dad’s Medicare needs for several years now. John is patient, thoroughly competent, and always works in his client’s best interest. I recommend him to anyone!
I’ve been a client for three years now. At 3:00 AM today… I was awake and had a question so I texted… I honestly thought it would get addressed the next business day well… low and behold .. only a few minutes later my issue was resolved… now that’s customer service! Highly recommended!
John went above and beyond when looking to lower costs on my father-in-law’s prescription plan. He made sure we got the best price available for what was needed. I definitely recommend John at Delaware Valley Medigap to anyone trying to figure out Medicare and all the options out there!
