The most common reason to delay Medicare B is that you choose to continue working past age 65, or your spouse continues to work, and you happen to enjoy a decent healthcare plan that your employer provides. Check with the employers' HR department to see what their policies are regarding Medicare. If the employer has fewer than 20 employees, then you still need to go ahead and enroll in Medicare because that will be your primary insurer. The opposite is the case if your employer has more than twenty employees, but only if you are still an active employee.
For many people, enrolling in Original Medicare (Parts A and B) is really only the beginning of the experience. Often, people find they need more coverage than what comes with it, and more to the point, they may not be able to afford all the coverage they need, especially when prescription costs and other issues come to the forefront. It's important to know that regardless of your situation, there is help available for you, whether it's an advisor to give you the information you need to make your best healthcare decisions, or additional financial aid through Medicare assistance programs.
New Jersey residents can enroll in Medicare Parts A and B when they are first eligible, however, some people choose to forego enrolling in Part B until later and need to know what to do when later comes.
Who gets Automatically Enrolled in Medicare?
Medicare Part A has no charge to it so most people elect to take it even if they still have employer coverage. Medicare Part B has a monthly fee to it so when you are eligible for Medicare you have to decide whether to accept Medicare Part B or delay it.
Everyone needs a little help sometimes. When it comes to navigating healthcare concerns, multiply the odds of needing assistance by a hundred. Dealing with Medicare? With literally hundreds of plans and combinations to choose from, you have your work cut out for you.
The good news is NJ Medicare Brokers is here to help you, whether your troubles are purely financial or you need an extra pair of eyes and maybe an expert hand to help you sort through your options. Medicare help is usually only a few clicks or even a short phone call away, no matter what your issue.
Many New Jersey residents find that once Original Medicare kicks in, prescription medication costs can be unaffordable. Although Medicare has coverage for medications through Part D this part of Medicare can leave high out of pocket costs, especially for brand name medications.
Medicare Part D is an additional policy, with a premium, that focuses specifically on prescription drug costs. For some, assistance needs to go a step further, and this is where prescription assistance programs like the Pharmaceutical Assistance to the Aged and Disabled program (or PAAD) come in.
Medicare brokers are tied to no specific private insurance company. Some might be appointed to different companies, but never just one. When you're planning ahead, or when you have questions, remember there's someone there to give you detailed, informed answers, and it doesn't cost you a dime. Consult with an agent through a company like the New Jersey Medicare Brokers, and arrange a meeting so that you are the most prepared you can be for your next important Medicare decisions.
While it is possible to work out your Medicare for yourself, finding a broker to work with you is like taking an open-book test with a personal assistant: You have somebody to talk to who isn't going to tell you what the right answers are, but can give you all the information you need to decide for yourself. Engage with a NJ Medicare broker if you would like:
- Expert advice, for free. Independent Medicare brokers have one job, and that is to know as much as they can about Medicare and the various policies you can choose. Your NJ Medicare broker should also charge you absolutely nothing.
- Unbiased information. Medicare brokers are not beholden to any single private insurance company, and part of their job is to tell you about plans and policies that are the best for you, even if it means changing carriers.
A wide umbrella of choices. Because your NJ Medicare broker is not tied to any one company, it means they can tell you about policies from a vast array of different sources.
Once Medicare Parts A and B kick in, whether you have one or both, your coverage sits in two broad categories: hospitalization, and medical equipment and supplies. What is noticeably absent from those is prescription drug costs. Medicare Part D is an essential part of your complete healthcare package, however it is an optional plan that you have to enroll in. Thankfully, for those seeking to add Medicare Part D, eligibility is simple.
Medicare recipients often find that Medicare's original plans do not offer all of the coverage they want or need. With Medicare Advantage plans, Medicare beneficiaries are offered the choice to get their Medicare through private companies which include additional benefits. Parts A and B of your standard Medicare plan cover hospital care and then medical, respectively, but it is possible that for you, your medical needs require a bit more coverage than that.
You may find that when you're enrolled in Medicare that you need additional assistance with the cost of healthcare. You cannot afford premiums or expanded packages that would allow you access to the treatments needed. With a limited income/assets you may be eligible for Medicaid on top of Medicare, which makes you dual-eligible. If you are in this situation there are two routes you can take.
- Enroll in Medicare, a Medicaid HMO (administered through NJ FamilyCare), and a separate plan for prescriptions.
- Enroll in a Dual Eligible Special needs plan which combines your Medicare, Medicaid, and Prescription Drug coverage into one plan.
As you prepare to enroll in Medicare for the first time, it's easy to find yourself with a lot of questions, especially if you're navigating the many options alone. Where do you even begin? What is the Medicare eligibility age? In New Jersey there’s over 1,000 combinations of ways that you can get your Medicare coverage. Read on to learn all you need to know as you begin this journey.
Medicare is government health insurance, and the majority of recipients are of the program age in by turning 65, but those are not the only people that qualify. In New Jersey and nationwide, persons under 65 can enroll in Medicare under specific circumstances, and it's important to know the specifics. It could be that you or someone you love can enroll in the program, allowing them to better manage their healthcare, and they do not have to wait until their golden years to do it. More to the point, if they qualify, then they shouldn't have to wait that long.
Senior Gold is state assistance program that helps with the soaring cost of prescription medication. The New Jersey state-funded program helps create a different, more manageable co-payment structure for those that are eligible and in need.
The Division of Aging Services part of New Jersey's Department of Human Services offers the NJSave application. Once filled out and returned, NJSave can help low-income Medicare recipients access several programs that can help them save money on premiums, deductibles, and other major expenses tied to their healthcare.
Medicare is a complex system. There are multiple rules and enrollment periods and if you make a Medicare mistake the penalties can last the rest of your life. Additionally, having a gap in your coverage can be financially catastrophic if you have a serious health event during that timeframe.
Below are a number of situations which can cause you to make a mistake with your Medicare. Agents at New Jersey Medicare Brokers can help answer your questions so that a Medicare mistake doesn’t happen to you.