medicare part b

Medicare Open Enrollment – a term that may be very familiar to you and nearly everyone else, but especially to those who are already on Medicare and want to drop or switch plans.

October 15th through December 7th of each year is the period known as open enrollment and allows individuals ample opportunity to investigate whether they can benefit from switching up their coverage. But Medicare is confusing, and there can be some caveats to switching or, unfortunately, in some instances, you may not be able to change at all. You would think that because it’s a government program for virtually everyone, they would make it clear and easy to understand, but hey, we’re talking about the government here, so it comes as no surprise that it’s about as clear as mud.

In this episode of A Place of Possibility™, we’ll be going through the nuts and bolts of Medicare so that you’ll come away with a better understanding of how the program works and, most importantly, how to make the right decisions when it comes time to choose your coverage when you join or update it later on during this the open enrollment period.

We will be talking about:

• The history and motivation behind the creation of Medicare
• How you qualify for Medicare
• An in-depth breakdown of the various Medicare options you’ll choose from — Parts A, B, C, and D — including their pluses and minuses (Here’s where you’ll see why your choices matter so much)
• What Medigap coverage is and the options you’ll have to base your premium on. We’ll also make our recommendation
• The upside and downside of obtaining Medigap coverage through a broker
• Why you really DON’T want to miss your enrollment period

And more!

Selecting Medicare coverage is a big decision. With it comes a variety of implications, including several potentially serious pitfalls that could keep you from getting the right coverage for your needs. Our goal with this episode is to help you get on the right path to an informed decision from the very beginning of the process.

Are you or someone you know approaching age 65 soon? This is the episode for you! Tune in to this episode to learn how to sign up for Medicare health insurance and choose the right Medicare plan for you. 

In this episode of Off the Wall, hosts Jessica Gibbs and Emily Harper welcome John Norce, the President and Founder of Medicare Portal, an independent organization that offers education and guidance in navigating Medicare so you can make informed decisions regarding your healthcare benefits. Throughout the conversation, John provides valuable information and advice you need for enrolling in Medicare in 2022 and beyond.  

You’ll learn about the cost of Medicare and Medigap coverage, when you’ll be eligible for Medicare, the potential benefits of changing your Medicare Part D plan each year, how to appeal your Income-Related Monthly Adjustment Amount (IRMAA) bracket, which is connected to your Medicare Premium and income and much more. 

Episode Timeline/Key Highlights: 

[00:50] Introducing John Norce & The topics of today’s episode. 

[02:14] Explaining the different “parts” of Medicare (Parts A-D, G, and F). 

[06:17] Which Medicare plan is right for me? Which Medicare plan is the most popular in 2022? 

[07:42] The flexibility of Medicare & Important things to consider when enrolling in Medicare. 

[10:06] About the Medicare Advantage Open Enrollment Period (OEP). 

[10:49] How to choose the right Medicare plan for your retirement, especially if you’ll be traveling. 

[17:57] Tips for managing your Medicare Part D plan. 

[22:03] Who is eligible for Medicare health insurance? 

[28:52] Medicare Costs & How the Income-Related Monthly Adjusted Amount (IRMAA) impacts your Medicare premium. 

[37:57] How Medicare expenses are projected to change over the next 10 years. 

[44:54] How to avoid the biggest mistakes people make when enrolling in Medicare (Tune in if you have COBRA!). 

Relevant Resources Mentioned: 

Medicare Portal: https://bit.ly/3MRGz9F 

Medicare Enrollment Checklist: https://bit.ly/3MHxU9T  

About John Norce: 

John Norce is the President and Founder of Medicare Portal, an organization that offers guidance in navigating Medicare so you can make informed decisions regarding your healthcare benefits. Today, with a collection of foremost industry thought leaders and entrepreneurs, Medicare Portal has become an authority in Medicare education and enrollment. 

Currently, John serves as the Northern Virginia Chapter President of the National Association of Financial Advisors, where he also contributes monthly to their Advisor Today publication. Additionally, he is an active member of the National Association of Health Underwriters and the Financial Planning Association.  

John is passionate about finding ways where he can impact the Medicare Portal family and his community. For over a decade, he was blessed with the opportunity to grant wishes through the Make-A-Wish foundation, and for the past 30 plus years, he was privileged to coach youth baseball and basketball across Northern Virginia. Finally, he enjoys his role as a certified continuing education instructor as it provides him the opportunity to educate his professional associates on Medicare.  

Connect with John: 

Connect with him on LinkedIn: https://www.linkedin.com/in/john-norce  

Connect with Monument Wealth Management: 

Visit our website: https://bit.ly/monumentwealthwebsite  

Follow us on Instagram: https://bit.ly/MonumentWealthIG  

Follow us on Twitter: https://bit.ly/MonumentWealthTW  

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI  

Connect with us on Facebook: https://bit.ly/MonumentWealthFB  

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com. 

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.   

Navigating the maze of Medicare enrollment can be extremely difficult. In today's episode, Vince and Jon cover some of the basic concepts of Medicare, including:

When to enroll

Are you eligible?

Medicare Part A and Part B vs Medicare Part C

Medicare Part D (Prescriptions)

Medicare Supplement Programs or Medigap.

With Medicare and health insurance coverage being such a large part of your finances, especially in retirement, Assured Retirement Group has brought in a specialist to cover these areas with their clients.

For more info, you can reach Vince Oldre at (952) 657-7470, or find him online at 

https://assuredretirementgroup.com/