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Medicare Explained 101 - {Starting Medicare}

I'm gonna talk about Medicare explained

so stay tuned I'm Keith armbreaker

founder of Medicare on video I hope

you'll find the information in this

video very helpful and presented in an

easy-to-understand format turning

Medicare eligible is actually a very

good thing you'll likely find Medicare

to be a much better alternative for your

health insurance needs than what you may

have had previously but there are some

choices so I've created a Medicare

Resource Center where I have a complete

video library on everything Medicare

you'll also find all the necessary links

and the guides and the forms that go

along with them so after this video take

just a few minutes to explore our

Resource Center I'm sure you'll find

everything that you need for Medicare

you can also get an immediate quote for

your Medicare supplement insurance just

fill in your basic information and it'll

bring up the rates for the plans that

are available in your area it would also

be a great idea to subscribe to my

youtube channel that way you'll always

have access to my videos and you'll get

updates as they come along so again I

hope you find this information very

helpful and please let me know if I can

help okay let's now do just an overview

of Medicare so this is Medicare basics

I'm gonna try and make this short and

simple and easy for you to understand so

this is a great place to start if you're

just coming into Medicare

maybe you're turning 65 and you're gonna

be entering Medicare and you kind of

need to understand how it functions or

you're still working and you're about to

retire and maybe you're 67 or 68 and

your group coverage is going to end and

as long as you have not started your

Medicare Part B as in boy it's exactly

the same as when you turn in 65 so when

you come into Medicare you have two

routes they're either turning 65 you

start a and B or you continued working

past 65 a already started for you

because it's automatic and that's okay

and then B is the one that is up to you

to initiate so you want to make sure you

contact Social Security to initiate Part

B so we'll go over through that

and I'll show you exactly kind of how

Medicare functions so again this is

gonna be nice and simple and a great

place to start when you're coming in

Medicare so let's talk about

understanding Medicare and this is

coming right from the center of Medicare

services guide so straight from the

horse's mouth this is what we need to

know about Medicare so what what is

Medicare Medicare is health insurance

for people 65 or older or people under

65 or certain disabilities people of any

age with end-stage renal disease so

there are kind of four different main

parts of Medicare you have a you have B

C and D so let's figure out exactly what

those mean and how they work and what

you need to understand Part A Medicare

Part A again Medicare Part A starts

automatically when you turn 65 or it may

factor in if you have disability under

65 but for those turning 65 or retiring

Medicare Part A is automatic there's no

cost to it for you so it's going to

start on the first of the month of your

65th birthday and what Part A covers is

inpatient services so it covers the

hospital the building is kind of how I

describe it so if we look at a is

covering the building and then Medicare

Part B covers the people in the building

it covers the doctor's outpatient

surgery things that are not part of

inpatient coverage so when you look at

the two pretty easy to understand Part A

covers the building Part B covers the

people now Part B is a choice so you

need to initiate Part B and there is a

premium to Part B so you will be paying

a premium right now it's a hundred and

thirty-four dollars a month and if

you're drawing Social Security that will

come out of your social security check

if you are not drawing Social Security

they will send you a bill for your Part

B coverage and something that surprises

people

quite often is when you're not drawing

Social Security and they send your bill

they're gonna bill you quarterly so

you're gonna pay it three months at a

time and then you won't get another bill

till that fourth month

after that so keep that in mind it's

certainly important to understand that

now Medicare Part C kind of changes

everything in Medicare Medicare Part C

and I don't know why they kind of line

it up this way but Part C is what it's

called Medicare Advantage so I'll show

you on the next slide kind of your two

routes you have two routes when you come

in to Medicare either you stick with

Original Medicare a and B or you choose

to go under a Medicare Advantage plan

and Medicare Advantage plans in kind of

large metropolitan areas maybe something

that works for some folks but it does

bring you back more to an HMO type

environment where you have a network of

hospitals you have a network of doctors

you have to stay in that network of

doctors there are different levels of

plans some may require referral to go

from a primary care to a specialist it's

certainly far in a way where you see

most of the dissatisfaction in Medicare

is within Medicare Advantage because you

give away some of your flexibility and

some of your choice so that's your first

really important decision is whether or

not you're going to choose to go in a

Medicare Advantage plan so make sure you

understand that as well and then the

next part is Medicare Part D and that

actually kind of lines up because it's D

as in drug so if you stay on Medicare

original a and B you would likely get a

drug plan to go along with it so a drug

plan is a separate piece from Original

Medicare so you have a and B and then

you get a drug plan to go along with it

not a big deal it's pretty easy to

manage it works a little differently and

I do have videos on that so make sure

you kind of look through the videos on

how Medicare drug plans work if you are

a Medicare Advantage most Medicare

Advantage plans include a drug plan so

you know it's kind of all wrapped into

one but a lot of folks kind of see the

shininess on the outside when they go in

and then once they start to use an

Advantage plan that's when you'll learn

kind of how things function with a

Original Medicare you can go to any

doctor you want you can go to any

Hospital you want you can basically do

anything

you want and if it's medically necessary

chances are Medicare approves it so you

don't have anybody else making your

decisions you don't have any insurance

companies in the way it's generally the

most flexible way to go so certainly the

choice that I would take if I were

choosing Medicare right now is I would

be choosing Original Medicare over a

Medicare Advantage plan so here are your

two avenues and I have some other videos

that kind of go into more detail and

show you more specifically so feel free

to take a look at those as well but you

can see on the left side is Original

Medicare Part A Part B you would likely

add a drug plan and then you would also

likely add a Medicare supplement plan so

when you talk about costs what does it

cost to be part of Medicare so let's say

you came in at age 65 you're a and your

B we know your B is gonna be about a

hundred and thirty four dollars a month

so not too big of a deal

Part D prescription drug coverage that

can generally run twenty to twenty-five

dollars a month unless you are on a very

complicated prescription medication drug

plan so regular drug plan you know basic

drug plan is twenty twenty-five dollars

a month so we'll look at the 134 plus 25

and I'll pull my calculator out here and

I'll add this up as we go plus 25 and

then a medicare supplement plan most

people choose to get a Medicare

supplement plan which covers what a and

B do not so there are some out-of-pocket

expenses to a and B primarily on a if

you go into the hospital remember a

covers the building there is a hospital

deductible right off the bat and it's

about thirteen hundred bucks so it's a

pretty big deductible if you go into the

hospital so most people want to have

that covered Part B has a smaller

deductible it's only right now 183

dollars when you go to the doctor you're

gonna pay that first 183 and then it's

80/20 so kind of like the old days where

you had you know as I recall as a child

my parents had Blue Cross Blue Shield

everybody had 8020 insurance where they

company paid 80 we paid 20 and that was

kind of the way it worked

now the problem with that under Medicare

is that 20% has no stop so for instance

if you have a $10,000 year not too big

of a deal you'd be responsible for

$2,000 a lot of money but manageable if

you have $100,000 a year now it's up to

$20,000 that you're responsible for

god forbid you have a million dollar

year and then your part of it is

$200,000 that's why most folks have a

Medicare supplement number one it puts a

stop on it and it pretty much covers

what Medicare does not so it makes

things pretty simple any Medicare

supplement depending upon what part of

the country and kind of what state

you're and because some states require

additional benefits which drives the

premium up but it will run generally

between a hundred and a hundred and

twenty dollars a month so it's not a

crazy amount of money so if we added 120

you know now we're talking total 279 a

month so I don't know what insurance you

might have right now you know unless

your employer's paying the entire thing

chances are you're paying a lot more

than $279 a month and keep in mind that

279 is full coverage so you'll have very

little out-of-pocket when you come into

Medicare so Medicare is almost always a

very positive enhancement to whatever

medical insurance you might have right

now so that's a wonderful thing as well

so it's actually very good now getting

Medicare let's run through this kind of

quickly and again I'd be happy to help

anybody this is obviously what I do for

a living is I help people with their

Medicare supplement plans and there's no

cost to you to use me as your agents and

that would give you access to me not

only now but also in the future so I'll

become your service person for now and

also down the road when things come up

down the road which as we know they

always do so you want to kind of have

that bit of help when you when you need

it

so getting Medicare enrollment and

Medicare Part A and Part B is automatic

when a person turns 65 and is already

getting Social

curity so if you're already drawing if

you chose to start Social Security at

age 62 what's gonna happen when you turn

65 he's gonna start no matter what so

don't worry about a don't even think

about it be they will send you a

postcard that says we're going to start

it on the 1st of the month of your 65th

birthday unless you tell us not to so

the only time you probably want to tell

them not to is if you're still working

and you are on group insurance you do

not want your Part B to start so I have

people all the time they continue to

work past 65 to 67 68 whatever it may be

and their Part B started and they've

been paying for it the entire time and

it's of zero value so you absolutely and

then it also takes away some triggers

when you come into Medicare so if you

are going to stay on your group plan

make sure your Part B does not start so

if you're under 65 and disabled it will

automatically start and I don't do

disability Medicare and it's a

completely different animal than regular

Medicare but I do want to help people

figure it out so I do have a video and I

kind of tell you about Medicare

disability so if you're under 65 and

you're approaching Medicare due to a

disability take a few minutes and watch

the video it's on its own URL make it

easy for you to find it's medicare

disability video dot info so make sure

you go to that and it'll show you

exactly what to do and kind of how to

take care of that now know Part B is

optional someone who does not want Part

B to start must follow the instructions

that come with the Medicare card so

again that's if you draw on Social

Security if you're not drawing Social

Security you're gonna have to call

Social Security and tell them to started

on the first of the month of your 65th

birthday or when you're going to come

off of your group plan so a person must

sign up for Part A and Part B if he or

she isn't getting Social Security that's

what I just discussed as then stage

renal disease so that's when you need to

contact them so if you're drawing Social

Security it's going to start unless you

tell them not to

if you're not drawing Social Security

you have to call them and tell them that

you want to start you can also do it

online and I made a URL for that as well

if you go to WWE you to Social

Security's web page where you start your

Medicare Part B so take advantage of

that when it comes time write it down if

you aren't going to be there for you

know some period of time now someone

doesn't automatically get Part B this is

when you can do your thing so this is

your timelines that you have to kind of

understand so initial enrollment period

a person can sign up when first eligible

for Part B example when you turn in 65

and it's a seven-month period so

normally when you turn in 65 you have

three months before your the month of

your 65th birthday three months after

the month of your 65th birthday so it's

a seven month window

really you want to do it a couple months

ahead of your 65th birthday just to get

it done and get it off your plate so

make sure that you kind of handle that

and I've got other videos that show you

exactly how to do it general enrollment

period if a person didn't sign up for

Part A or B when first eligible and if

you miss it this is what you got it now

go through he or she can sign up between

January 1st and March 31st so if you

were supposed to sign up when you turn

65 and you didn't now you have to do it

between January 1st and March 31st and

then coverage is gonna start on July 1st

so now you get into this whole time

crunch and you may need it before July

1st but if you neglected your initial

enrollment period then you're gonna pay

a kind of a penalty for it and it's not

gonna start till to July of whatever

time you sign up between January and

March so special enrollment person

special enrollment period a person may

decide to wait to sign up for Part A or

Part B because he or she is covered by

group health coverage now that's

absolutely okay if you have coverage

through work you do not want to start

your Part B and

till you're ready to come off of that

coverage and go into Medicare now what

trips some folks up is in order to not

have a penalty on your Part B you need

to show them proof of credible coverage

so they're gonna want to see proof that

you had coverage through work before you

signed up for your Part B if you're now

67 or 68 or 69 or 78 whatever it may be

now group insurance counts as credible

coverage so that's no problem whatsoever

what does not count as credible coverage

is retiree coverage or COBRA coverage so

if you retired from a company and you're

66 years old and you go on there retire

read plan and you keep that for a couple

few years then all of a sudden you

decide you want Medicare you can get it

Medicare but you don't have credible

coverage in between so there is going to

be a penalty on your Part B coverage so

make sure you understand that regular

group coverage absolutely

stay on it as long as you want and then

when you're ready to come off from the

group coverage you start your Part B

retiree coverage or Cobra not the same

thing so you want to get off of that if

you're gonna be in Medicare in the

future you want to get off your retiree

you want to get off your Cobra end it

get into Medicare everything will work

out very well

now special enrollment period for

international volunteers a little

different so that's a little more

specific so that gives you a pretty good

overview on the basics of Medicare and

again there are obviously many many many

different pieces and I'm happy to help

with all of it I have a small team that

is there to help you as well so if you

give us a call or visit my website at

Medicare on video comm you can run a

quote for a Medicare supplement right on

the website just put in your basic

information and then we would be

certainly very happy to help you I'd

certainly appreciate if you would allow

us to help you with your Medicare

supplement plan so we can continue doing

this kind of thing for folks I get a lot

of wonderful feedback and

it's absolutely the most enjoyable thing

I've done in in my career so it's

something I will do from here on out and

I hope you found this information

valuable if you have any questions I'd

be happy to help and I hope you have a

fantastic day