“Tom and Emily were paying less for health insurance and getting considerably more coverage than they ever had before even while being covered under Tom’s group plan through work”
Emily, a Seniorstar client, and recent Medicare beneficiary, found herself in a unique situation two years ago regarding her need for health insurance coverage. Prior to becoming eligible for Medicare, Emily’s husband, Tom, another Seniorstar client, had become ill and had to retire early. Ironically, that meant that both Tom and Emily would lose the group employer plan that Tom had and that both were covered by. For Tom, it was less of a problem because he was 67 years old and already eligible for Medicare, but what was Emily going to do?
After getting Tom enrolled in original Medicare with a bundle that included a Medigap plan, a Part D prescription drug plan, and dental coverage, we turned our attention to Emily. We consulted with her about entering the individual marketplace to secure coverage while she waited to become eligible for Medicare. Emily, like so many of our other clients, found it difficult to know what to do or where to look to find the most appropriate and comprehensive coverage at rates she could afford.
The challenge for Emily was now that her husband Tom had retired, and the household income was lower, so she had to keep a close watch on expenses. We discovered that Emily was eligible for premium subsidies in the individual marketplace, which minimized her costs in the plans that were available to her. After realizing that, Emily still needed help finding the plan with the right mix of premiums, deductibles, and out-of-pocket expenses that best suited her needs, and we were right there to help her navigate through the process.
And that’s exactly what we did for Emily again when she recently became eligible for Medicare. After reviewing her many Medicare coverage options with us, Emily decided to go down the same path as her husband, Tom, and enrolled in original Medicare with a bundle that included a Medigap plan, Part D prescription drug plan, and a dental plan. Moreover, because she chose the same Medigap company as her husband they were both eligible for a household discount on the monthly rates and Tom’s premiums went down. Now both Tom and Emily were paying less for health insurance and getting considerably more coverage than they ever had before, even while being covered under Tom’s group plan through work. Emily’s journey from the individual marketplace to Medicare highlights the intricacies and challenges that individuals may face during transitional periods in their healthcare coverage. Her journey underscores the importance of careful planning, informed decision-making, and a comprehensive understanding of the options available. Emily successfully navigated this transition with the educational and consultative support that Seniorstar Insurance Group gave her. We take the time to get a clear assessment of our client’s healthcare and financial needs along with their long-term objectives to give them solutions for peace of mind and security. Emily’s story is a reminder that proactive planning is essential for individuals approaching Medicare eligibility and can help fend off costly and potentially long-lasting mistakes.
