Don’t Let The Clock Run Out on Part D

It’s official: You signed up for Original Medicare Parts A and B. Your enrollment isn’t quite finished yet though — at least, it shouldn’t be. Your next step is to enroll in a prescription drug plan. This is true even if you’re not presently taking any medications. It is important that you enroll in a timely fashion to avoid lifetime late enrollment penalties.

Gain Skills to Avoid Medicare Fraudsters

With our state’s senior population growing at a rapid rate, protecting kūpuna against the threat of Medicare fraud and abuse is essential. More than 10,000 Americans turn 65 each day, becoming eligible for Medicare as they blow out their birthday candles. As of 2020, one in four Hawai‘i residents is 65 or older, with this population growing at an annual rate of 17%. Hawai’i also has the highest life expectancy in the country, with an average of 83.1 years of age. Together, these facts mean that by 2030, a third of Hawai’i’s total  population will be Medicare eligible.

Out-of-Pocket Healthcare Costs

The number of infants born in the US jumped significantly after World War II and continued to increase through the mid-1960s. Social scientists believe it was the result of the thousands of WWII veterans returning home to a booming economy and GI Bill benefits that provided access to home ownership, encouraging them to marry and start families. These infants born between 1946 and 1964 are known as baby boomers.

Affordable Adult Day Care

Often, families don’t know where to turn when a loved one suddenly needs constant care. Insurance and Medicare plans may cover very few long-term care expenses — or none at all. In the past, nursing homes were the only option for care outside of the family home. However, now there are many home- and community-based services that help support aging in place.

Get ’Extra Help’ With Medicare Drug Costs

Assistance is available for some people with limited income and assets who may be eligible for a program called “Extra Help.” It’s a Medicare health plan that assists in paying costs related to a Medicare prescription drug plan. This can include monthly premiums, annual deductibles and prescription co-payments. Extra Help is estimated to be worth about $4,900 per year. Many people qualify and don’t even know it.

Medicare Health Plans & Caregiving

With National Caregivers Month quickly approaching, let’s remember former First Lady Rosalynn Carter, who said it best in 2012—“There are only four kinds of people in the world: those who have been caregivers, those who are currently caregivers, those who will be caregivers and those who will need caregivers.” As a caregiver, what questions should I ask to help me assess the best Medicare Advantage (health plan) possible?

Understand Your Medicare Options

Hawai‘i has 268,000 Medicare beneficiaries in 2019 — nearly 19 percent of the state’s total population. About 45 percent of Hawai‘i’s beneficiaries select Medicare Advantage plans. The remaining 55 percent are covered under Original Medicare. Every year during Medicare’s Annual Election Period, Medicare beneficiaries can add, drop or switch plans. Medicare health plans and prescription drug plans can change in cost, coverage and services every year, so look at your plan’s coverage for 2020 and compare it with other plans.

Pay Medicare Supplements With SPIA

With rising health care costs, many Medicare participants use Medicare supplement insurance to help cover expenses that Medicare does not. However, many still struggle to pay the premiums for their Medicare supplement insurance. Surprisingly, another insurance product — one that can guarantee a monthly income stream — might be the solution.

A Medicare Miracle

I have spent a decade conducting educational workshops and meeting with individuals transitioning to Medicare or already there. I encourage everyone to explore resources at www.socialsecurity.gov and www.medicare.gov to become knowledgeable before services are needed. I also stress the importance of keeping Medicare cards, medication lists, the names of your physicians and any ongoing health conditions on hand.

Medicare for All!

According to the Centers for Medicare and Medicaid, more than 59 million people in the United States have Medicare. That number is expected to grow to close to 80 million by 2030. Currently, people 65 or older and younger people with disabilities who meet all other eligibility requirements may qualify. Therefore, it is important to start becoming familiar with Medicare terms and definitions. Here are a few.

Still Working? Got Medicare?

Our parents may have had an easier time than many of us do now. When they turned 65 years old, they were eligible for full Social Security retirement benefits and Medicare. Today, depending on the year you were born, your full SS may not take effect until you are 67, so you may continue to work and you’re eligible for Medicare. So what should you do?

Heads up! It’s Upgrade Time!

Most people use new or upgraded versions of cars, phones, appliances and all sorts of gadgets to manage their daily lives. Yet, they seem surprised to learn of a loved one’s, a friend’s or their own need for a medical procedure to maintain or improve functional capabilities. The need for a knee or hip replacement or cataract surgery comes as a shock or a hardship.

Workplace Insurance and Medicare

One question that is frequently asked by people about to turn 65 who have health insurance through an employer is: “Do I need to enroll in Medicare?” Good question! If you or your spouse are still working when you turn age 65 and have insurance through your employer you may consider delaying Medicare Part A and Part B until you retire if you have Creditable Coverage, which means coverage as good as Medicare. Or you can choose to elect your Part A, which is premium-free, and delay Part B until retirement. Depending on the size of the group, one plan would be primary while the other would be secondary.

Medicare News!

According to Kathryn Coleman, Director at the Centers for Medicare and Medicaid (CMS), a final rule issued in April 2018 has redefined the “primarily health related” supplement benefit definition. As a result, CMS expects Medicare Advantage plan sponsors to begin offering services for enrollees needing assistance with Activities of Daily Living (ADL) or Instrumental Activities of Daily Living (IADL).

Who’s Turning 65 This Year?

What do singer Cyndi Lauper, comedian Tim Allen, wrestler Hulk Hogan, attorney Marcia Clark and politician Jeb Bush have in common? They were born in 1953 and are turning 65 this year, along with many others who may not enjoy fortune or fame. Celebrity or not, if you share their birth year and you or a spouse/partner worked and paid Medicare taxes, you may qualify for valuable Medicare insurance benefits.

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Long-Term Care Insurance

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