Must-Know Facts About Medicare Insurance for Soon-to-be-Retirees

With the changes in the healthcare industry, including the so-called Obama-care law, soon-to-be retirees in places like Northwest Indiana are well advised to carefully look into their options in Medicare insurance. Keep in mind that, as your age advances, your needs in medical insurance changes and you must keep up with these changes so that your retirement will be more enjoyable for it.

Medicare Shoulders the Bill

Medicare is a national social insurance program guaranteeing access to medical insurance for specific cohorts including senior citizens (individuals age 65 and above) as well as younger people with disabilities, end-stage renal disease, and Lou Gehrig’s disease. You will soon obviously fall into the first category wherein most Medicare members belong.

Your medical bills will be shouldered by Medicare only up to a certain point. On average, the social insurance program shoulders approximately one-half – 48%, to be exact – of the total bills but the actual amount can vary depending on the coverage chosen (i.e., Part A, Part B, Part C, and Part D). Our suggestion: Talk with the expert in Medicare insurance here at Hefty Insurance so that you can choose which of the Medicare Parts will best serve your needs.

Medicare Pays First

Let’s assume that you have group health plan coverage (retiree) from your former employer and it is time to pay your medical bill. Who pays first? In general, Medicare pays first and then the group health plan provider pays second.

Keep in mind that the group health plan may or may not work in the same way as your chosen Medicare health insurance. You must then find out:

• If you can actually continue employer coverage after your retirement since employers are not required to offer retiree coverage

• The price, benefits and coverage of the retiree plan including coverage for your spouse and type of coverage (i.e., stop loss)

• The effect of your Medicare insurance on the retiree coverage (Keep in mind that enrollment in Medicare Part A and Part B may be required to enjoy the full benefits of your retiree coverage)

• The impact of the retiree coverage on your health insurance and that of your spouse and

• The effect on your coverage when your former employer files for bankruptcy or closes its business for good (COBRA rules may provide protection or you may have the option of getting a Medigap policy)

You may be in a tizzy about the complexities involved in choosing the best  one Part for yourself. Again, ask the best insurance service provider in Northwest Indiana, Delores Hefty of Hefty Insurance. You will find that Medicare does not seem so intimidating anymore when you can understand its terms and conditions as these affect your health as a retiree.

Medicare Supplement Insurance May be Necessary

medicare supplement

Unfortunately, you will find that there are certain healthcare costs that Medicare insurance cannot cover. You should then secure supplemental health insurance known as Medigap insurance, which is sold by private companies. Keep in mind that this is a different policy than the Medicare Advantage Plan (Part C).

Our advice: Don’t wait when you are just a year away from retirement. You should discuss your best options in healthcare insurance including supplemental insurance with the experts here at Hefty Insurance.

Delores Hefty

Owner & Author
Hefty Insurance


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26 Responses to “Must-Know Facts About Medicare Insurance for Soon-to-be-Retirees”

  1. Edward Long says:

    Yes, I must endorse Delores Hefty’s advice about looking into the options in Medicare and Medigap ASAP. Be informed and you can make good decisions.

  2. Brett Coleman says:

    Informative article, as always!

  3. Brittany Jenkins says:

    Looking forward to your next post.

  4. Lindsay Griffin says:

    Thanks, Delores, for the assistance to our parents! You made a difference.

  5. Fred Adams says:

    As usual, you delivered a great piece.

  6. Irene Bell says:

    Nice writing but that’s expected.

  7. Marie Kelly says:

    I always thought that traditional Medicare would suffice but Delores taught me that it is always better to have more coverage to lessen out-of-pocket costs later on.

  8. Lisa Freeman says:

    Retirees should look into Medicare now.

  9. Nancy Ward says:

    Medigap has made my life as a retiree better, thanks to the advice of Delores.

  10. Wanda Young says:

    Where can I find supplemental Medicare?

  11. Amanda Hughes says:

    Try a private insurance company.

  12. John Campbell says:

    As a retiree, I have benefited from Delores’ advice several years ago just before I went into retirement. Her guidance in choosing the best health insurance was, indeed, valuable.

  13. Steven Ward says:

    Great job.

  14. Russell Brooks says:

    Thanks again for the info!

  15. Gregory Jenkins says:

    Me, too. Thanks for the info.

  16. Stephen Simmons says:

    Just wanted to give Delores a big thank you for your assistance when we were choosing our supplemental insurance!

  17. Jessica Howard says:

    Delores was a big help. Thanks!

  18. Andrea Ramos says:

    I did not know many of the things here so thanks for the info.

  19. Sean Campbell says:

    Great article once again.

  20. Bonnie Simmons says:

    Delores, you are an angel to retirees.

  21. Billy Bailey says:

    Thanks to Delores, I have little concerns over my health insurance.

  22. Donna Scott says:

    If Delores has your back, she has your back, period.

  23. Stephen Morris says:

    Nice job!

  24. Paula West says:

    Now that you said it, I will go ask my employer about retires coverage. Thanks!

  25. Larry Ward says:

    Same here. Thanks for the tips!

  26. says:

    It’s really a great and useful piece of information. I am glad that you simply shared this helpful information with us. Please stay us informed like this. Thanks for sharing.

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