Many adults find that they are helping older parents with Medicare, a complex process that involves many steps and considerations. There are penalties for delaying registration, and not everyone understands their options when they get sick or change their plans.
“I think it’s really easy and I can’t get into it,” says Melinda Caughill, co-founder of 65 Incorporated, which provides guidance on Medicare. “It’s incredibly complex, and the decisions your parents make or will make affect you.”
It helps to be proactive and get as much information as possible. When parents need your help, and if they need your help, try these tips to be the best defender for your parents.
Get neutral advice
If you have any questions, start with someone who doesn’t want to sell anything to you (or your parents). “People shouldn’t stop insurance agents or insurance companies first,” says Caughill. “Do they really have your greatest concern? To some extent. But after all, they have to pay the invoice like everyone else.”
If you can afford it, it’s a resource that Medicare advisors or advocates can help. (Search online for “Service Medicare Advisor Pricing.”) Caughill suggests budgeting $ 500 to $ 1,000 for this type of advice.
If that is not possible, consider contacting the state health insurance support program or SHIP. You can find yours at shiphelp.org.
“In every state, they provide free, community-based, unbiased information to people aging Medicare, those who are already Medicare recipients, their families, and their caregivers,” California Health Advocate. Says Mickey Nozaki, director of the California Senior Medicare Patrol. “If they don’t have all the information, they can introduce you to other resources.”
Medicare.gov also has a lot of information. You can get used to the program by downloading the “Medicare & You” handbook. (Prepare, it’s long.)
Buy insurance, not benefits
When people buy Medicare or change their plans, they can be distracted by the extras. “People focus on’my free gym membership’and’$ 50 gift card to Walgreens’, so I forget what’s really important,” says Caughill. “Medicare is health insurance.”
Make sure your parents’ medication is covered. Make sure their doctors are on the network and that their providers take advantage of the coverage purchased. “You have health insurance because you have cancer, you have a car accident, or you have Parkinson’s disease. [disease] Or you are in the hospital, “says Caughill.
View the calendar
Registration for Medicare is time sensitive. It usually occurs around the age of 65. “One of the most important things people don’t understand is that if you don’t register in the right time frame, you can be penalized for the rest of your life if it’s strict.” To tell.
In some circumstances, the registration penalties for Medicare Apartments A, B, and D may be delayed. In most cases, you will be charged a penalty for the remaining time enrolled in Medicare. Check Medicare.gov for registration deadlines that apply to parents, as initial registration depends on your birthday.
View details
Parents may be able to delay enrollment in Medicare Apartment A or Part B, depending on the circumstances. For example, if one or both are still working at age 65 and have health insurance provided by your employer, you may be able to wait for them.
That said, the rules are very specific and include the period during which you must register if you quit your job or lose your employer’s coverage. Make sure you (and they) fully understand when you have to sign up. See this Medicare fact sheet for more information.
Beware of scammers
Medicare beneficiaries are a popular target for scammers. Therefore, make sure your parents understand the following to help them protect themselves.
- Medicare does not invite people to sell things.
- Medicare will not be able to enroll you in the plan over the phone unless you initiate contact.
- Medicare will not call you for your Medicare number without your explicit permission.
- Your Medicare number is important. Tell your parents to protect them like a bank account or credit card number.
“It sounds simple and sounds like common sense, but unfortunately these telemarketers are very smart and attentive and believe that when they impersonate Medicare, people are receiving calls from Medicare. Masu, “says Nozaki.
This article was written by Nerd Wallet and was first published by The Associated Press.
Details of Nerd Wallet
Kate Ashford is writing for Nerd Wallet. Email: kashford@nerdwallet.com. Twitter: @kateashford.
An article on how to help parents navigate retirement health care was originally published in Nerd Wallet.
