Can you contribute to a health savings account (HSA) when you’re on Medicare?
You cannot contribute to a health savings account once you enroll in Medicare, regardless of your age. The key factor is Medicare enrollment, not turning 65. Many people assume HSA contributions must stop at age 65, but this is incorrect. If you are 65 or older and have not enrolled in Medicare while maintaining qualifying […]
What are Medicare Penalties for Late Enrollment?
Medicare late enrollment penalties can permanently increase your monthly premium for the rest of your life. Understanding these penalties is crucial to avoid costly mistakes in retirement. Your initial enrollment period is a seven-month window around your 65th birthday, starting three months before you turn 65 and ending three months after. If you’re receiving Social […]
What is Medicare’s Extra Help Program?
Medicare’s Extra Help Program is a federal benefit that helps Medicare beneficiaries with limited income and resources pay for prescription drug coverage costs. This program assists with monthly premiums, annual deductibles, copayments, and coinsurance for Medicare Part D prescription drug plans. To qualify for Extra Help, you must be enrolled in Medicare and meet specific […]
What’s the difference between Medicare and Medicare Advantage?
Medicare is a federal health insurance program that provides coverage for Americans aged 65 and older, plus younger people with certain disabilities. As an entitlement program, those who meet eligibility requirements are legally guaranteed these benefits. Traditional Medicare includes Part A for hospital coverage and Part B for medical services, with a 2026 Part B […]
How can I leave a Medicare Health Plan?
You can leave a Medicare Advantage plan during specific enrollment periods, not at any time during the year. The primary opportunity is the Annual Election Period from October 15 through December 7, when you can switch to a different Medicare Advantage plan or return to Original Medicare with or without a Part D prescription drug […]
Can You Be Denied Supplemental Insurance for Medicare?
Yes, you can be denied Medicare Supplement Insurance, but it depends on when you apply. During your six-month Medigap Open Enrollment Period, which begins when you first enroll in Medicare Part B at age 65 or older, insurance companies cannot deny you coverage or charge higher premiums based on your health status. This is your […]
What’s the difference between Medicare Advantage Plans and Medicare Supplement Plans?
Medicare Advantage and Medicare Supplement plans work completely differently. Medicare Advantage plans replace your Original Medicare, meaning you receive all Medicare benefits through one private insurance plan that includes Parts A, B, and usually D prescription coverage. These plans typically have networks of doctors and hospitals you must use, often feature low or zero monthly […]
When is Medicare secondary to my insurance?
The Medicare brochure titled “Medicare & Other Health Benefits: Your Guide to Who Pays First” describes this in detail. In summary, if you have Medicare and other health insurance (like from a group health plan, retiree coverage, or Medicaid), each type of coverage is called a “payer.” When there’s more than one payer, “coordination of […]
I’m a Veteran and have Veterans’ benefits. Can I get Medicare?
If you have (or can get) both Medicare and Veterans’ benefits, you can get treatment under either program. Generally, Medicare and the U.S. Department of Veterans Affairs (VA) can’t pay for the same service or items. Medicare pays for Medicare-covered services or items. The VA pays for VA-authorized services or items. Each time you get […]
Do Medicare Quotes Vary from Agency to Agency
Medicare quotes do not vary from agency to agency for the same plan from the same insurance company. Plan premiums and benefits are standardized by CMS, so a Plan G from Company X will cost exactly the same whether you purchase it through Agency A or Agency B. The price is set by the insurance […]