More Medicare Aware

Many are not aware that you can sign up for Medicare without filing for Social Security. In churches it’s quite common that some employees are still working when becoming Medicare eligible but are not ready to start taking Social Security.

The process is easy as you simply need to enroll online https://www.ssa.gov/medicare or contact Social Security directly https://www.ssa.gov/agency/contact/ . Make sure you tell them you are not yet taking Social Security but only filing for Medicare.  

Assuming you paid into the system for at least 10 years (40 quarters) your Medicare Part A (Hospitalization) coverage is free. Your Part B (Dr. visits, outpatient, etc.) premium is $185/mo.

Part D is prescription drug (Rx) coverage which is purchased through private insurance carriers and costs can vary by plan type but most are well under $100/mo. https://www.medicare.gov/health-drug-plans/medigap

It’s highly recommended also that you purchase a Medicare Supplement plan, also known as Medigap plans to cover general out of pocket expenses for your part A & B coverages. Plan G supplements have been the most comprehensive plans for a while but this could change over time. You can shop for these at the same Medicare link used for Part D https://www.medicare.gov/health-drug-plans/part-d, just click the dropdown box at the top and select Supplement Plans.

You will need to pay for your coverages directly to Medicare (Part A&B)  and your Part D and Supplemental carriers since you will not yet be collecting Social Security. https://www.medicare.gov/basics/costs/pay-premiums  

Bottom line it’s important to know you can enroll in Medicare without taking Social Security. It’s easy!  

Interested in learning more? We’re here to help.

BMA Financial Insurance Services is your trusted partner that can help bring clarity and understanding to whatever your situation may be. Let us help explain your options. Our focus is on educating our churches and pastors to help them make well informed decisions about these very important topics.  

BMA Financial Insurance Services is your trusted resource. Let us serve you today!  

Mark Bradley

BMA Financial - Insurance Services

501.499.4205

mbradley@bmaamerica.org

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