Good morning everyone and welcome back to Finance Friday! This month we’ll cover Federal Assistance, which impacts our society as a whole, however, the most affected people are those at retirement or near retirement age. We’ll cover recent news about Social Security, including why people are claiming early and how to plan for a major possible change in the next few years. Today, however, is dedicated to a specific age group of people: 64 Year Olds. This is your annual reminder about signing up for Medicare.
Medicare is the Federal health Insurance program for people that are 65 years of age and older. The initial enrollment period (IEP) window to sign up for coverage is between 3 months prior to their 65th birthday or 3 months after. Annual enrollment goes from October 15th through December 7th with coverage beginning on January 1st.
Here’s my tip, try to schedule and meet with an agent the year you turn 64. Medicare agents consider August through December their busy season, so you’ll want to speak with an agent earlier in the year if possible. Medicare Agents will be able to guide you through the different parts and coverages of Medicare. Before you meet with an agent, do a little research first to learn about what the different parts (A, B, D) cover and how supplements come into play.
Remember to submit your questions and thoughts on our discussion to hector@hrcfin.com. Also, don’t forget to follow HRC Financial on Facebook and LinkedIn for more Finance Friday Tips and Insights. Thank you again for your time this morning, have a wonderful weekend!