Medicare: Long-Term Impact of Enrollment Choices

This webinar will review eligibility requirements, enrollment periods, options for filling in the gaps in Medicare, and the cost of Medicare and its components. Our panel of Medicare consultants will answer common questions and provide scenarios showing the long-term implications of enrollees' Medicare choices.

Medicare decisions are necessary for individuals reaching age 65, the age of eligibility, and even before for individuals with specific disabilities. Original Medicare consists of Parts A, covering hospital costs and B for medical services. Once a member has these two pieces, they choose whether to add a Medicare Supplement with a Part D prescription drug plan or a Medicare Advantage plan, with or without prescription drug coverage. Not enrolling when eligible could subject individuals to substantial penalties. Even worse, individuals who have paid substantially into the system could lose valuable, needed coverage.

In addition to basic coverage, individuals and advisers must familiarize themselves with the decisions about filling in the gaps in Medicare. For most people, Medicare is their only option for coverage once you reach your qualifying age. Medicare Supplements and Medicare Advantage plans cover the members’ out-of-pocket costs for Medicare-approved medical services. However, deciding if you are eligible, determining when and if to enroll, and weighing coverage options is complicated. Individuals, tax professionals, and financial advisers need to understand the elements of Medicare to make informed decisions and offer appropriate advice to clients.

Listen as our panel of Medicare specialists explains Medicare's elements, from eligibility to providing examples of common decision scenarios and outcomes.