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Insurance Premium Timelines Explained

Question: I’m getting ready to sign up for Medicare, but I don’t want to collect Social Security yet. How will I pay for the Medicare Part B premium? Answer: Social Security and Medicare have been around a long time, and for many of those years, individuals filed for both benefits at the same time. Now many individuals wait to collect their Social Security Benefit until after they sign up for Medicare Part A & B. To understand this trend, I’ll lay out the timing: while you MAY start collecting Social Security as early as age 62, individuals born after 1960 don’t reach “full ...

Medicare Part B Deadline Is March 31

Question: I got a letter from Medicare (Centers for Medicare & Medicaid Services, CMS) saying that I might need to sign up for Medicare Part B. I have coverage through my employer, so do I still need to have Medicare Part B? Answer: According to data.cms.gov, over 68 million Americans are enrolled in Medicare. Each of those 68 million have slightly different circumstances that impact their Medicare enrollment decisions. Over half of those enrollees have Medicare Part A & B plus additional insurance, like Medicare Advantage Plans, Medicare Supplement Plans, or Medicare Part D drug ...

Should I be signing up now for Medicare and Social Security?

Question: I am turning 65 in April of 2025 and wondering about Medicare and Social Security Benefits. Should I be signing up now for Medicare and Social Security? Answer: This is the second answer to this two part question, so as I said last week, Happy Early Birthday! Most of us understand you become eligible to file for Social Security Benefits when you are 62, and this age is considered early retirement. For those born in 1960 and after, Full Retirement Age (FRA) for Social Security Benefits is 67. To collect Social Security you must “file a claim” with the Social Security ...

Handling A Late-Arriving Insurance Bill

Question: I haven’t gotten my Prescription Drug Coverage/Insurance Company January bill yet, what should I do? Answer: 2025 is here. This was a year of significant changes to Insurance options for many people. Some of this was due to the Inflation Reduction Act protections related to the $2000 Maximum Out of Pocket (MOOP) for all those enrolled in Medicare Part D plans. Much of the disruption was due to Medicare Advantage Plans that were discontinued. Today’s question has been very common over the last few weeks and now in 2025. During the Annual Open Enrollment period everyone ...

What To Do When Medicare Isn’t Needed Anymore

Question: I have a Medicare Advantage plan with Part D. My spouse got a new job and it will provide us both with health insurance. Can I drop my Medicare Advantage Plan and my Medicare Parts A & B? Answer: I have come across this scenario a couple of times recently. Your decision to enroll into a Medicare Advantage Plan was an appropriate decision to make, but now things have changed with your newly available employer coverage. The answer to your question could be yes or no, depending on a few different variables. Each part of Medicare has a slightly different answer as well, so I ...

Explaining The Process If No Changes Are Made In Open Enrollment

Question: I changed my plan during the Annual Open Enrollment Period and I still haven’t heard from my new plan, what do I do? Answer; This year I feel like everyone changed their coverage. But I realize that some of you do not. For those that didn’t change your coverage, you are all set. You don’t have to do anything but celebrate the holidays and enjoy winter in WNY. For those of you that did change your coverage for 2025 you are now waiting for your new plan information. The first item that will arrive will be a confirmation letter of your enrollment. This confirmation has ...