A 60-second read by the Baron Team: Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD). The Medicare annual open enrollment period for the 2023 Medicare Advantage and Part D prescription plans begins Oct. 15, 2022 and runs through December 7, 2022. You can change your Medicare Advantage and Part D plans without special enrollment requirements.
The 2023 Medicare Parts A & B premiums and deductibles will be available in the latter part of the Annual Enrollment period at cms.gov.
If you are applying for Medicare for the first time:
- Sign up during first 3 months before you turn 65
- Medicare starts the first day of the month you turn 65
- Can sign up during the 4th – 7th months, but your start date will be delayed
- If the initial enrollment period has passed, you may incur higher premiums
Please note that there are some changes since the recording of this presentation in 2019. The cost numbers for Medicare Part B and the ranges for IRMAA have changed since 2019. The dates for the look-back period will always be two years from when you join Medicare Part B.
According to SSA.gov: since early April, our local offices have resumed in-person services nationwide for people with and without appointments. However, you can access many services securely and conveniently online or by telephone – and often do not need to visit an office in person. Before you visit a Social Security office, check to see if you can complete your business online or call us.
You can call your local office or the national 800 number at 1-800-772-1213. You can also visit their website at ssa.gov.
This 2019 recording also includes a presentation from Baron Financial Group that covered some popular topics at that time.
If you have any further questions, please don’t hesitate to contact the Baron Financial Group Team.
You can learn more at Medicare.gov, the official U.S. Government site for Medicare.
This post is a general communication being provided for informational purposes only. It is educational in nature and not designed to be as advice or a recommendation for any specific investment product, strategy, plan feature or other purpose in any jurisdiction.