beccaboo126
It was wonderful to see so many individuals take the time to respond to this important issue. After reviewing the responses, I would just like to add a few points of clarification:
1. You will not be penalized when you go onto Medicare Part B and buy your supplement, as you indicated you were under full coverage with your spouse's plan. This is considered creditable coverage and you do not then pay a penalty.
2. As was indicated, to select your Medicare Part D plan, the federal government does offer assistance. Go to the website, www.medicare.gov[/url], enter your data and sort results by cost of premium+ medication costs. Since this is a very individualized result, based upon your personal circumstances, do not just pick a company by a personal recommendation, as it may not be the most cost effective for you.
3. Review your Medicare Part D on an annual basis, during the open enrollment, which runs October 15th through December 7th. This is important because plans can change annually, new options can enter the market, providers can alter formularies and co-pays, premiums and out of pocket maximums can be adjusted annually.
4. When you select your Medicare Supplement, you will most likely remain with it ongoing, as you would generally be out of your Guaranteed Issue period ( the 6 months after you elect Medicare Part B) and changes can be more difficult to make.
5. Due to the MACRA (Medicare Access and CHIP Reauthorization Act) of 2015, Supplemental Plans C and F are not now available to newly eligible Medicare recipients. However, if you were eligible for Medicare prior to December 31, 2019, even if you were not yet enrolled in Medicare, you can still purchase a Plan C or F, as you are grandfathered into those programs.
6. While using an insurance broker may be a valuable tool for you in this process, you might want to ask how many companies they are able to broker with for your coverage, in comparison to you searching on the open market.
All the best in your search process.
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