Thanks John. Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
So I’m confused my dad is 65 but got a n b so he is paying that but he won’t fill retire until 66 , his telling me to look into what will cover the other 20% that a n b doesn’t cover ! So if his paying for b already he has to get another part to cover the other 20%
@@griselgarcia3677 He can purchase a Medicare supplement policy from me. Text me your zip code at 919-714-3397 or email 919-714-3397. I’ll help you understand this. Hans
Thanks Laura Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
I turn 65 this November. Nobody has told me anything about my options. This is the best sixteen minutes that I could have spent on the subject. GREAT and SIMPLIFIED explanation of Medicare and the options available. At least now I have an idea what choices to make, and why those will work for me. Thank you!
VERY well explained. I'm in the "66 & 6" Social Security year, looking to retire from my current position at 65 yrs old. The whole video was perfectly timed just for me !
We are in all 50 states and DC. Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
THANK YOU THAT WAS A VERY CLEAR EXPLANATION...I SAVED THIS AS A REF.......PLEASE TAKE CARE OF YOURSELF I MAY NEED YOU IN 2 1/2 YRS., RIGHT NOW I'M 64 IN OCT. AND ON DISABILITY S.S. WITH MEDICARE.....MIKE
THANK YOU SO MUCH! You have made so many things clear to me on this subject. I'm getting close to retirement and this really helps me understand what my costs will be as well as the timely way I need to handle things to get the best coverage at the best price.
David Thanks for watching and subscribing. We can help you get the best coverage at the best price. In all 50 states and DC. Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
Thank you - this is one of the most clearly explained medicare videos I have seen. Why do they make it sooo confusing to begin with - who knows!! - so double thank you.
I live in an area with few Medicare Advantage plans, and even those have few extra benefits. We get tired of seeing ads promising dental, vision, etc. There just don't seem to be enough people in our county or region to make it profitable for insurance companies to design a plan for us.
I'll take SS at age 70. I was wondering how the payments were handled for original Medicare starting at age 65. Thank you for explaining that. Great presentation.
Medicare will send you a bill soon after you sign up for it. They used to require you to pay 3 months at a time. I have heard from some clients that they allow it to be paid monthly on bank draft? Be careful with this bill. If your Medicare Part B lapses, it is a real pain to get it started again. Hans Hans@CardinalGuide.com 919-535-8261
TJ I can help you with Medicare consulting. Licensed in 50 states and DC. Thank for watching. Hans Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
How about being a Veteran? I use Va a lot. But what should I do? I Get my drugs form Va. IAM 65 but really can work due to my health? Please let me know if you can. Thk you john w.
Outstanding explanation of a complex subject. The one missing fact is that if you plan to retire in another country outside the US your MediCare will not cover you. However you can still collect your full social security check.
Not only that. If you have an IRA and move to another country, it will get froze or cancelled by all the big brokerages. That is because of FATCA. Look it up.
Biggest advice I'd say is if you can afford a Supplement with a drug plan do it as it is the standard for coverage in the medical field and has less headaches involved with private insurance covering claims. For everyone else if it was me to provide a wider availability of dr I'd go for a PPO MAPD
Thank you for this excellent explanation. I have been dreading figuring this all out and I feel this gives me the basic information I need when researching.
Very interesting information. I wish some would do a video for those of us who won't qualify for Medicare because we have worked outside the US. I only have 23 credits and will be living in Florida when I Turn 65 in 2023.
Thank you Hans,this was a extremely well spoken explanation of medicare and it's options.I automatically subscibed,and looking foward to your other videos.
My dad was on Medicare Parts A and B and had a Blue Cross supplement. I swear he never paid anything and he was in and out of the hospital for many years after age 65 and through 85. He had many surgeries over those years. He did pay for his meds but it really didn’t amount to much with generics. My husbands dad went the same route only using UHC for his supplement.
I will be 65 in a couple of years.... this is perfect information since I'm still working and living in California ( High Tax State) ........ and covered by my employer... Thanks a million!
You are welcome Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
Your videos are outstanding for simpletons like myself ! Thank you ! Retired military, so will be on TCFL when I hit 65 in April. Am currently still working and have not filed for SSN. When I start paying for Medicare B in Apr or May, which I understand is $170+ now, how will I pay for that or be billed. I understand it will be taken out of SS when I decide to file. Am thinking that may be another reason to go ahead and file. Thanks again
As long as your wife’s employer is 20+ employees and the coverage is what Medicare considers “creditable”, you can delay signing up for Part B until she retires. Thanks Hans
So expensive. We pay into medicare our entire working lives(not by choice) and still have to pay when we're eligible to use it. Then we need supplements plus a prescription plan??? AdvantageCare plan is only good in NY so we have no choice but to choose expensive medicare. America always finds a way to take money from us. So disappointing
You paid for Medicare with pay-roll deductions. After 65 you pay for outpatient coverage. Try to find something this cheap in the private sector at your age.
From my research, you should sign up for Medicare whether you are working (with group ins) or not at 65. If you don't, you can incur late enrollment penalty fees. ???
OMG - I learned so much with this brief video. I want to thank you. I have subscribed to your channel. My wife will turn 63 in July. I am the baby in the family, 61. Looking forward to reach out to you at the right time. Is the right time now?
Thanks for viewing and commenting. Consider purchasing long term care insurance while you are still 62 and 61. Thanks Hans Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
@@CardinalAdvisors what determines if I can get social security under my ex-wife? I'm divorced neither one of us remarried and I have recently applied for social security the agent on the other line asked me if I knew her social security number I don't know it although in the divorce decree I can get it
@@johnziccarelli8823 if you were married to her for 10 years. Divorced, then no remarriage for you before 60. She has to file for benefits herself. You are then entitled to a percentage of her benefit if it is more than your own benefit. This costs her nothing. If she dies first, you get her whole benefit. Thanks Hans
Jay. Here’s my contact info Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
I agree with previous comments- the best, clearest and most concise presentation I have seen. One question- If I opt for Medicare advantage, and select a particular provider, am I then locked into that provider thereafter or can I switch if I am not satisfied?
David No you are not locked in. Every fall is Medicare Annual Enrollment (October 15th through December 7th) where you can change plans or go back to original Medicare. Then there is Annual Open enrollment (Jan, Feb, and March) where you can do the same thing. We offer most of them across all 50 states and can serve you by phone. Thanks Hans
I missed the part regarding any costs for Medicare Advantage. If it includes Part D, etc., isn't there some kind of monthly cost? Do I talk to one of the companies you listed to see what that cost would be for me? Thanks!
We can help you price Medicare Advantage plans. Let’s move to email Hans@CardinalGuide.com or text 919-714-3397 Thanks Hans Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
@@OldManDave1960 For Medicare and long term care consulting, zero. The insurance companies pay us a commission if you buy from us. If you need and want financial planning, we charge flat fees, project based. They are ver low by comparison to competitors. We are CFPs. Thanks Hans
Im age 61 will be taking Social security at 62, retired military and on tricare prime now. at what age will that go to tricare for life and will i still need one of those advantage plans/ thanks
Excellent overview, thank you. However you seem to suggest that there’s some kind of connection between Medicare and when you start to take Social Security, but you didn’t elaborate. they seem to be two separate and unrelated choices, are they not?
Retired from Federal Govt. 8 years ago and have retained my health insurance benefits and am satisfied with it. Is there any reason I need to switch to Medicare at 65?
Thanks good presentation - so If your turning 65 and currently covered under an employer and you choose to delay how do you avoid being penalized in the future (for not signing up at 65)? - Thanks
Thanks for the info. I still have 5 years till than. If my health remains well .im trying not to pay for services I hope not to use. I hope to continue to live abroad but want to cover myself.
Raising my hand👋 - question?...I currently draw 100% disability through the V.A. How will that play a factor in my decision on which way I choose in-regards to my Medicare?
If you are comfortable using the VA system exclusively, you can sign up for Medicare Part A only (free to you). If you think you might use care privately, sign up for Part B $148.50 monthly. Once you have Parts A & B, you need to then choose between Advantage or a supplement. I can help you with that. 919-535-8261 Hans@CardinalGuide.com. Thank you much for your service to this great country! Hans
For me this is the best explanation! Im having a hard time of which is the best for me.. But now i know what is good for me.. I watch many medicare videos . but you are the one that I understand , Thank you so much.. More Power to you :)
Glad it was helpful! Reach out if you have any specific questions. Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com
I understand most of the information you explained except drugs coverage. Why and when part D will impose penalty for life? If I start out with Medicare advantage (with A, B and C) then switch back to original Medicare (A and B) and then buy part D. Would there be a penalty? Thank you.
What about traveling to foreign countries? What about Traveling in general? Doesn't having supplement give you better coverage if you travel in US and other countries?
Plan G includes a foreign travel emergency rider. $250 deductible, 80% coverage, $50,000 maximum. Original Medicare plus a supplement does not have a network. You can go to any doctor or hospital in the US that accepts Medicare which is most of them. Thanks Hans
To K. La Borde: I would run over the syllabus gamut to get your feet wet, even to further prepare for these many scenarios or possibilities. This is not simple and is tantamount to stock trading with technical indicators in this game of chance. It is easy to buy, but to buy *wisely* is the most difficult.
Michael It is complicated. Medicare started in 1966. I started selling Medicare supplement insurance in 1976. It was pretty simple then. Years of political debate and compromise have created this complicated system. I am grateful for it though! It protects our Seniors very well. My job is to lead consumers in the right direction. I try my best to stay out of the WHY and stay in the area of WHAT to do about it for any one consumer. Thanks for watching and commenting. Hans
If you are already taking Social Security, you will automatically be enrolled in Medicare Part A and Part B the month you turn 65. If you started Social Security and do not want to start Medicare at 65, you need to contact Medicare and let them know.
Great presentation. I’m turning 65 this year but am still working so I don’t think I need to do anything, yet. I plan on working till at least 67 (assuming no layoffs) so am I wrong to assume I don’t need to take any action? I’ve been barraged with solicitors re Medicare advice & seminars this year!
This is a great presentation. This topic is so confusing. I am turning 65 at the end of the year so I have some time to figure it out but I have questions. I didn't see a cost listed for the Medicare advantage. Also, I am a veteran and receiving care through the VA but healthy so far. Do I need to switch to Medicare? Would the Medicare cover my wife even though she isn't 65 for a few years?
James Part B of Medicare will cost you $148.50 per month. Many of the Medicare Advantage plans are “zero premium” to you the consumer. The federal government pays your premium for Medicare Advantage to the insurance company providing your Medicare benefits. If you can afford it, sign up for Medicare A & B even though the Veterans A provides you care. In the future you may want it. Your wife can get Medicare when she’s 65. Thanks for putting your life on the line for our freedom. Hans
@@CardinalAdvisors Thank Hans. One question: So if I sign up for Medicare, my plan would not cover my wife? She must get her own plan when she is 65? Oh, also must I sign up for Medicare advantage or Medicare supplement at age 65. If not is there a penalty to sign up later?
@@JamesDavis-dn3wo You and your wife are completely separate with Medicare and supplemental insurance. If she needs health insurance until 65, we could help her with a marketplace plan. We are in all 50 states and DC. Hans@CardinalGuide.com 919-535-8261
Kaiser is an option to consider. We do not represent them because they are in so few states. We represent Humana, AARP/Unitedhealthcare, CVS/Aetna, CIGNA, Anthem, Centene/Wellcare. We write Medicare Advantage and Medicare supplement in all 50 states and DC. Thanks for watching, Hans
Great presentation. But isn't it true that if you choose Medicare Advantage, once the trial period ends, you can never really switch back to traditional medicare? (By that I mean, and enjoy supplemental and Part D rates as if you had never left). For me that would seem a super deal killer on Advantage?
You can go back to Original Medicare once a year. You can buy a supplement anytime but you have to answer health questions and qualify. I’m not selling one over the other. Trying to educate consumers that there are 2 paths and they must choose one or the other. It sounds like Original Medicare + a supplement + a Part D plan will be best for you. Thanks for commenting Hans
Glad our video helped! We can help people in all 50 states and DC. Hans "John" Scheil Certified Financial Planner™ 2530 Meridian Parkway, Suite 100 Durham, NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com Hans@CardinalGuide.com America’s Medicare & Long Term Care Financing Expert
Hi great job on the presentation. I have question that I have not received a clear answer to. I plan to have a main residence in NJ and a part time (5 or more months but not consecutive months) residence in Puerto Rico. Medicare is available in Puerto Rico as it is part of the United States. Can I get a plan that covers me in both locations?Thank you
David My advice is to stay on Original Medicare A & B. Buy a Medicare supplement using your NJ permanent address. Both Medicare and the supplement will cover you anywhere in the US where Medicare is accepted. If you buy the Plan G supplement, you also receive $50,000 coverage for foreign travel emergency. I can help you with this. Hans 919-535-8261 Hans@CardinalGuide.com
@@CardinalAdvisors thank you I’m a few years away from retirement but am doing my research now. I will keeping viewing your channel and reach out when appropriate. Thank you.
@@CardinalAdvisors TY for your very informative video. I was always confused and did not know what to do. Now I just wait till I'm 66 if the man above let's me.
Dear Cardinal Advisors - After the first year, you must request to go back to Original Medicare between October 15th and December 7th, you stated this. Is this any year you can do this until you die? It would make sense to go if I am healthy to start on Medicare Advantage (Aetna) the years later switch to original with (Aetna) just thinking.
Each year you can change from Original Medicare to Medicare Advantage or the reverse. The problem comes with health conditions or health questions from the Medicare supplement insurance company. If you develop serious health problems and want to apply for a Medicare supplement policy to go with Original Medicare, the insurance companies could turn you down. Hans
Easly understandable great work on explaining the basics of medicare. One criticizism is that delaying medicare usually involves delaying part B only since part A is usually a entitlement at no charge.
@@kevinmontgomery1383 I'd have to look into it. What I'm referring to is for people still working and still getting medical from thier employer and dont want to pay for both coverages. For part D the penalty is applied when delaying but only if your dont have creditable coverage from employer state programs.
Hi thanks for the video. I would like to know original Medicare shows on your board 148.50 @ month. What is the extra cost of Medicare advantage? I did not see a cost there .
When you sign up for a Medicare Advantage plan (Part C); you are agreeing to receive your Medicare benefits from a private insurance company instead of directly from the government. The government then makes a large payment to the private insurance company which you never see. Your out of pocket premium to the insurance company for the Advantage plan is usually small or many times zero. Send me your zip code and I can send you choices and examples in your area. Text to Hans at 919-714-3397 or email Hans@CardinalGuide.com. Thanks Hans
Leaves out a lot of people though, for example those with employer retirement health coverage. That often mutates into a plan integrated with Medicare at 65, these days often absorbing A and B into a Medicare Advantage plan or something. You can miss critical deadlines and decisions and end up in the cold or paying some big bills.
I'm turning 65 this Aug 2021 I'm unemployed through out the pandemic but I'm still on my husband coverage, should I still go ahead and sign up for medicare? Thanks so much for the information, looking forward hearing from you, and I also subscribe to your channel
Marjorie If your husband is still working, the coverage is great, and it costs him less than $200 per month: delay Medicare Part B enrollment until he retires. If he retires or the coverage is not great or it costs him a lot to have you on it, sign up for Medicare Part B and purchase either a supplement or an advantage plan. Thanks for watching! Hans 919-714-3397 or Hans@CardinalGuide.com
I have Tricare and to keep it I needed to apply for Part B. I am still working and have FEHB. I am considering getting an advantage plan for the extra coverage and suspending FEHB. Do you think that having an advantage plan along with Medicare and Tricare is advisable or needed?
Super presentation. I’m on a supplement plan with blue cross. Very surprised how expensive my total annual bill is -over$8000 with drug plan. The IRMAA is absurdly high
@@CardinalAdvisors Yes. $8076 is the total for me. My previous BCBS was about $11000 for my coverage plus $3000 family deductible. I was surprised it was so close for Medicare
Mark Yes to the Part B monthly premium. $148.50 monthly in 2021. If you have a high income, Part B is more. Called IRMAA. The Plan G is with a private insurance company. I’d love to help you with this. Hans@CardinalGuide.com or text 919-714-3397 Thanks Hans
John, I turn 65 in June and plan on retiring in September. My employer based Medical coverage should cover me until Oct 1. Do I apply for parts A/B in July given there is a 3 month window? Also, I plan on beginning my SS for Oct 2021 as well.
You can start Medicare Part A June 1st at no cost to you. I would do that just to get into the system. You can delay starting Part B until September 1st or October 1st to save the $148.50 monthly for Part B. We can help you with either a Medicare supplement or Medicare Advantage plan to start October 1st. Thanks Hans
@@fghtrpiolet From Social Security: “If you were born in 1956 your full retirement age is 66 and 4 months You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.” Thanks for watching my video. Hans text 919-714-3397 or email Hans@CardinalGuide.com
This was super clear ... I just have one question. My husband (62) plans on retiring when he's 69. He will sign up for Medicare at 65 ... but he will be under his work insurance for 4 years after that. For the supplement, does the 6-month open enrollment begin when he gives up his work insurance, or does he lose out on it since he'll be working for far longer than 6 months after he signs up for Medicare at 65? tia
The 6 month open enrollment period starts when he signs up for Medicare Part B. So for him age 69. Make sure he only signs up for Part A at 65 and delays Part B until he retires. Thanks for listening. Hans
Thanks a million. I'm turning 65 this August and have been going crazy trying to uderstand all this. Great explanation.
Thanks John. Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
Me, too! I have so much to learn. This is very helpful.
I'm also in august. i learned we should NOT wait til then to sign up.
@@jjpac2011 I’m in California my appointment is in August I turn 65 in September
hi John, what route did you take for your retirement?
This is the best presentation that I've seen on Medicare choices for folks who will soon be turning 65. Great job!
Thank you. Hans
Agree.
I agree I’m trying to figure this out for my dad n I’m so confused
So I’m confused my dad is 65 but got a n b so he is paying that but he won’t fill retire until 66 , his telling me to look into what will cover the other 20% that a n b doesn’t cover ! So if his paying for b already he has to get another part to cover the other 20%
@@griselgarcia3677 He can purchase a Medicare supplement policy from me. Text me your zip code at 919-714-3397 or email 919-714-3397. I’ll help you understand this. Hans
This topic was very clearly explained! Thank you. This is the best presentation I’ve seen on this topic!
I feel like I learned so much in such a short amount of time!! I'm turning 65 this July and am feeling much less confused!! Thank you!!
Thanks Laura
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
Hi Laura, what route did you take for your retirement?
I turn 65 this November. Nobody has told me anything about my options. This is the best sixteen minutes that I could have spent on the subject. GREAT and SIMPLIFIED explanation of Medicare and the options available. At least now I have an idea what choices to make, and why those will work for me. Thank you!
John. Thanks I’m in all 50 states and DC. Would like your business. Hans@CardinalGuide.com or text 919-714-3397
VERY well explained. I'm in the "66 & 6" Social Security year, looking to retire from my current position at 65 yrs old. The whole video was perfectly timed just for me !
This is so timely. I am turning 65 next month. Thanks for sharing.
what route did you take for your retirement?
Great job, out of the videos I watched today on Medicare you had the best explanation!
Thank you Joel! We really appreciate that. If you have anymore questions, feel free to give us a call -919-535-8261
We are in all 50 states and DC. Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
I am approaching 65 and have never had such a concise explanation of how all these parts fit together. Excellent job! Thank you.
Thomas Text 919-714-3397 or email Hans@CardinalGuide.com for a consultation. Thanks Hans
THANK YOU THAT WAS A VERY CLEAR EXPLANATION...I SAVED THIS AS A REF.......PLEASE TAKE CARE OF YOURSELF
I MAY NEED YOU IN 2 1/2 YRS., RIGHT NOW I'M 64 IN OCT. AND ON DISABILITY S.S. WITH MEDICARE.....MIKE
THANK YOU SO MUCH! You have made so many things clear to me on this subject. I'm getting close to retirement and this really helps me understand what my costs
will be as well as the timely way I need to handle things to get the best coverage at the best price.
David Thanks for watching and subscribing. We can help you get the best coverage at the best price. In all 50 states and DC.
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
Wow, this was an excellent presentation. By far, the best one I have seen on this subject. I am turning 65 in December. Thank you. 👍
Great explanation without being too wordy. Thanks - still a few years off but getting educated.
Thank you - this is one of the most clearly explained medicare videos I have seen. Why do they make it sooo confusing to begin with - who knows!! - so double thank you.
Very thorough/concise presentation, thank you for doing this, much appreciated.
I live in an area with few Medicare Advantage plans, and even those have few extra benefits. We get tired of seeing ads promising dental, vision, etc. There just don't seem to be enough people in our county or region to make it profitable for insurance companies to design a plan for us.
Thanks for this, I turned 65 a few months ago. I’m glad I’m in retirement now. Life’s good
what route did you take for your retirement?
I'll take SS at age 70. I was wondering how the payments were handled for original Medicare starting at age 65. Thank you for explaining that. Great presentation.
Medicare will send you a bill soon after you sign up for it. They used to require you to pay 3 months at a time. I have heard from some clients that they allow it to be paid monthly on bank draft? Be careful with this bill. If your Medicare Part B lapses, it is a real pain to get it started again. Hans Hans@CardinalGuide.com 919-535-8261
@@CardinalAdvisors Thank you.
Thank you so much for a clear presentation. The flow chart makes it clear how to proceed with the various choices.
BRILLIANT EXPLANATION. This should be required for any American
Thank you
This is exactly what I was looking for. Turning 65 in October. Thanks!
TJ I can help you with Medicare consulting. Licensed in 50 states and DC. Thank for watching. Hans
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
what route did you take for your retirement?
How about being a Veteran? I use Va a lot. But what should I do? I Get my drugs form Va. IAM 65 but really can work due to my health? Please let me know if you can. Thk you john w.
Thank you, Hans, for your presentation. I appreciate the order you brought to a "high entropy" subject
Outstanding explanation of a complex subject. The one missing fact is that if you plan to retire in another country outside the US your MediCare will not cover you. However you can still collect your full social security check.
Not only that. If you have an IRA and move to another country, it will get froze or cancelled by all the big brokerages. That is because of FATCA. Look it up.
This is amazing! Thanks for the clear and detailed explanations🙏🏾
Biggest advice I'd say is if you can afford a Supplement with a drug plan do it as it is the standard for coverage in the medical field and has less headaches involved with private insurance covering claims. For everyone else if it was me to provide a wider availability of dr I'd go for a PPO MAPD
What a fantastic presentation! I’ve never had anyone else be able to explain this to me clearly. Many thanks!
Very clear explanation, thank you!
Thank you for this excellent explanation. I have been dreading figuring this all out and I feel this gives me the basic information I need when researching.
Thank You
Very interesting information. I wish some would do a video for those of us who won't qualify for Medicare because we have worked outside the US. I only have 23 credits and will be living in Florida when I Turn 65 in 2023.
Thank you Hans,this was a extremely well spoken explanation of medicare and it's options.I automatically subscibed,and looking foward to your other videos.
Thank you so much for sharing!
grammar police here: not a "mute" point but a "moot" point but a great presentation overall!
My dad was on Medicare Parts A and B and had a Blue Cross supplement. I swear he never paid anything and he was in and out of the hospital for many years after age 65 and through 85. He had many surgeries over those years. He did pay for his meds but it really didn’t amount to much with generics. My husbands dad went the same route only using UHC for his supplement.
so your dad, always paid $148 for plan A and B and nothing for supplemental?
Thank you I have a friend who has Cigna with Medicare fir his eye pays 1,000 with Cigna and Medicare
I will be 65 in a couple of years.... this is perfect information since I'm still working and living in California ( High Tax State) ........ and covered by my employer... Thanks a million!
You are welcome
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
Your videos are outstanding for simpletons like myself ! Thank you ! Retired military, so will be on TCFL when I hit 65 in April. Am currently still working and have not filed for SSN. When I start paying for Medicare B in Apr or May, which I understand is $170+ now, how will I pay for that or be billed. I understand it will be taken out of SS when I decide to file. Am thinking that may be another reason to go ahead and file. Thanks again
Another reason to consider the Advantage route is it provides reimbursable urgent care coverage if you are out of the country.
Thank you for making this so clear
I will be turning 65 inJuly of 2022. My wife is still working and has insurance that I’m covered under. Do I need to sign up for part B?
As long as your wife’s employer is 20+ employees and the coverage is what Medicare considers “creditable”, you can delay signing up for Part B until she retires. Thanks Hans
So expensive. We pay into medicare our entire working lives(not by choice) and still have to pay when we're eligible to use it. Then we need supplements plus a prescription plan??? AdvantageCare plan is only good in NY so we have no choice but to choose expensive medicare. America always finds a way to take money from us. So disappointing
Yep.
@@mallariculp3551 AND IF YOUR STLL WORKING AFTER 65 THEY STLL TAKE OUT TAX FOR MEDICARE ON YOUR PAY CHECK
You paid for Medicare with pay-roll deductions. After 65 you pay for outpatient coverage. Try to find something this cheap in the private sector at your age.
From my research, you should sign up for Medicare whether you are working (with group ins) or not at 65. If you don't, you can incur late enrollment penalty fees. ???
Group insurance, if deemed creditable by Medicare, gets you relief from the late enrollment penalties. Hans
This is fantastic information. And u r adorable. Very trustful energy.
Thank you 😊
Thank You. Best explanation I have seen!
Best, brief and made easy presentation. First time I got complete overview of these options.
Glad it was helpful!
Hans
Text 919-714-3397 or email Hans@CardinalGuide.com
Thank you for very helpful information. I am so glad to hear this near the beginning of my decision making process!
OMG - I learned so much with this brief video. I want to thank you. I have subscribed to your channel. My wife will turn 63 in July. I am the baby in the family, 61. Looking forward to reach out to you at the right time. Is the right time now?
Thanks for viewing and commenting. Consider purchasing long term care insurance while you are still 62 and 61. Thanks Hans
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
@@CardinalAdvisors what determines if I can get social security under my ex-wife? I'm divorced neither one of us remarried and I have recently applied for social security the agent on the other line asked me if I knew her social security number I don't know it although in the divorce decree I can get it
@@johnziccarelli8823 if you were married to her for 10 years. Divorced, then no remarriage for you before 60. She has to file for benefits herself. You are then entitled to a percentage of her benefit if it is more than your own benefit. This costs her nothing. If she dies first, you get her whole benefit. Thanks Hans
@@CardinalAdvisors does this happen automatically? Or is there a sit-down required?
I guess what I don't understand is how would we know if an ex-spouse is incomes greater than their own
This was great ! I'll turn 65 next July. I'll start making my moves in Jan , Feb , March 2022. Thanks
Jay. Here’s my contact info
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
That was great, very timely and succinct. Thank you!
This just popped up in my suggestions. I’m 63 and on Soc. Sec. Thinking about Medicare. This couldn’t have come at a better time. Subbed.
Thank you sweet Man.
I agree with previous comments- the best, clearest and most concise presentation I have seen. One question- If I opt for Medicare advantage, and select a particular provider, am I then locked into that provider thereafter or can I switch if I am not satisfied?
David No you are not locked in. Every fall is Medicare Annual Enrollment (October 15th through December 7th) where you can change plans or go back to original Medicare. Then there is Annual Open enrollment (Jan, Feb, and March) where you can do the same thing. We offer most of them across all 50 states and can serve you by phone. Thanks Hans
@@CardinalAdvisors Thank you
I missed the part regarding any costs for Medicare Advantage. If it includes Part D, etc., isn't there some kind of monthly cost? Do I talk to one of the companies you listed to see what that cost would be for me? Thanks!
We can help you price Medicare Advantage plans. Let’s move to email Hans@CardinalGuide.com or text 919-714-3397 Thanks Hans
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
@@CardinalAdvisors How much do you charge?
@@OldManDave1960 For Medicare and long term care consulting, zero. The insurance companies pay us a commission if you buy from us. If you need and want financial planning, we charge flat fees, project based. They are ver low by comparison to competitors. We are CFPs. Thanks Hans
Im age 61 will be taking Social security at 62, retired military and on tricare prime now. at what age will that go to tricare for life and will i still need one of those advantage plans/ thanks
Excellent overview, thank you. However you seem to suggest that there’s some kind of connection between Medicare and when you start to take Social Security, but you didn’t elaborate. they seem to be two separate and unrelated choices, are they not?
Medicare starts at 65. Social Security can start any month between 62 and 70 depending on when you elect to take it. Thanks Hans
Thank you for explaining it so well. I have a good idea on what I will choose.
Glad it was helpful!
919-535-8261
CardinalGuide.com
Retired from Federal Govt. 8 years ago and have retained my health insurance benefits and am satisfied with it. Is there any reason I need to switch to Medicare at 65?
Thank you for demystifying Medicare. It'll be easier to read and understand the literature on it now.
Good job on explaining it Sir !
Thanks good presentation - so If your turning 65 and currently covered under an employer and you choose to delay how do you avoid being penalized in the future (for not signing up at 65)? - Thanks
Nelson When you later retire, your employer signs a form which proves you were continuously covered by “creditable” health insurance. Thanks Hans
Thanks for the info. I still have 5 years till than. If my health remains well .im trying not to pay for services I hope not to use. I hope to continue to live abroad but want to cover myself.
Raising my hand👋 - question?...I currently draw 100% disability through the V.A. How will that play a factor in my decision on which way I choose in-regards to my Medicare?
If you are comfortable using the VA system exclusively, you can sign up for Medicare Part A only (free to you). If you think you might use care privately, sign up for Part B $148.50 monthly. Once you have Parts A & B, you need to then choose between Advantage or a supplement. I can help you with that. 919-535-8261 Hans@CardinalGuide.com. Thank you much for your service to this great country! Hans
Thank You ... that was one of the BEST explanations of Medicare I have ever seen 👍🏻👍🏻
Thanks for watching and commenting! Hans
VERY GOOD presentation/clear.
this was a great presentation very clear on medicare advantage vs supplement
For me this is the best explanation! Im having a hard time of which is the best for me.. But now i know what is good for me.. I watch many medicare videos . but you are the one that I understand , Thank you so much.. More Power to you :)
Glad it was helpful! Reach out if you have any specific questions.
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
very clear presentation. the best explanation I ever heard. thanks!
I understand most of the information you explained except drugs coverage. Why and when part D will impose penalty for life? If I start out with Medicare advantage (with A, B and C) then switch back to original Medicare (A and B) and then buy part D. Would there be a penalty? Thank you.
Absolutely excellent information and clearly explained!
Glad you enjoyed it!
Wow ! One of the the best explanation video I have seen ! Thank You 🙏
Thanks
Is the supplement premium in addition to the part B premium or in pace of it?
Supplement premium is in addition to the part B
What about traveling to foreign countries? What about Traveling in general? Doesn't having supplement give you better coverage if you travel in US and other countries?
Plan G includes a foreign travel emergency rider. $250 deductible, 80% coverage, $50,000 maximum. Original Medicare plus a supplement does not have a network. You can go to any doctor or hospital in the US that accepts Medicare which is most of them. Thanks Hans
You did not mention that some people qualify for Medicaid share of cost. Then when the bills go over that amount Medicaid will pick up the bill.
Learned a lot, not ready for Medicare yet, but great to know.
Thanks for watching!
Hans
919-535-8261
Hans@CardinalGuide.com
To K. La Borde: I would run over the syllabus gamut to get your feet wet, even to further prepare for these many scenarios or possibilities. This is not simple and is tantamount to stock trading with technical indicators in this game of chance.
It is easy to buy, but to buy *wisely* is the most difficult.
Good presentation, but why is medical coverage so complicated in this country? So many layers, WHY?
Michael It is complicated. Medicare started in 1966. I started selling Medicare supplement insurance in 1976. It was pretty simple then. Years of political debate and compromise have created this complicated system. I am grateful for it though! It protects our Seniors very well. My job is to lead consumers in the right direction. I try my best to stay out of the WHY and stay in the area of WHAT to do about it for any one consumer. Thanks for watching and commenting. Hans
Money and power, full stop!
What if you start collecting SSI at 62? If I paid in enough will SSA automatically enroll me into Medicare?
If you are already taking Social Security, you will automatically be enrolled in Medicare Part A and Part B the month you turn 65. If you started Social Security and do not want to start Medicare at 65, you need to contact Medicare and let them know.
@@CardinalAdvisors Wow thank you so much.
Great presentation. I’m turning 65 this year but am still working so I don’t think I need to do anything, yet. I plan on working till at least 67 (assuming no layoffs) so am I wrong to assume I don’t need to take any action? I’ve been barraged with solicitors re Medicare advice & seminars this year!
Jay you’re good until you retire. Sorry about the solicitors. Keep my number 919-535-8261 Hans
This is a great presentation. This topic is so confusing. I am turning 65 at the end of the year so I have some time to figure it out but I have questions. I didn't see a cost listed for the Medicare advantage. Also, I am a veteran and receiving care through the VA but healthy so far. Do I need to switch to Medicare? Would the Medicare cover my wife even though she isn't 65 for a few years?
James Part B of Medicare will cost you $148.50 per month. Many of the Medicare Advantage plans are “zero premium” to you the consumer. The federal government pays your premium for Medicare Advantage to the insurance company providing your Medicare benefits. If you can afford it, sign up for Medicare A & B even though the Veterans A provides you care. In the future you may want it. Your wife can get Medicare when she’s 65. Thanks for putting your life on the line for our freedom. Hans
@@CardinalAdvisors Thank Hans. One question: So if I sign up for Medicare, my plan would not cover my wife? She must get her own plan when she is 65? Oh, also must I sign up for Medicare advantage or Medicare supplement at age 65. If not is there a penalty to sign up later?
@@JamesDavis-dn3wo You and your wife are completely separate with Medicare and supplemental insurance. If she needs health insurance until 65, we could help her with a marketplace plan. We are in all 50 states and DC. Hans@CardinalGuide.com 919-535-8261
You didn’t mention Kaiser permanente...is that an option that you would consider.? They also offer the advantage type plan you described.
Kaiser is an option to consider. We do not represent them because they are in so few states. We represent Humana, AARP/Unitedhealthcare, CVS/Aetna, CIGNA, Anthem, Centene/Wellcare. We write Medicare Advantage and Medicare supplement in all 50 states and DC. Thanks for watching, Hans
Great presentation. But isn't it true that if you choose Medicare Advantage, once the trial period ends, you can never really switch back to traditional medicare? (By that I mean, and enjoy supplemental and Part D rates as if you had never left). For me that would seem a super deal killer on Advantage?
You can go back to Original Medicare once a year. You can buy a supplement anytime but you have to answer health questions and qualify. I’m not selling one over the other. Trying to educate consumers that there are 2 paths and they must choose one or the other. It sounds like Original Medicare + a supplement + a Part D plan will be best for you. Thanks for commenting Hans
Informative road map to all this government twaddle.
Glad our video helped! We can help people in all 50 states and DC.
Hans "John" Scheil
Certified Financial Planner™
2530 Meridian Parkway, Suite 100
Durham, NC 27713
P: 919-535-8261
C: 919-714-3397
www.CardinalGuide.com
Hans@CardinalGuide.com
America’s Medicare & Long Term Care Financing Expert
Hi great job on the presentation. I have question that I have not received a clear answer to. I plan to have a main residence in NJ and a part time (5 or more months but not consecutive months) residence in Puerto Rico. Medicare is available in Puerto Rico as it is part of the United States. Can I get a plan that covers me in both locations?Thank you
David My advice is to stay on Original Medicare A & B. Buy a Medicare supplement using your NJ permanent address. Both Medicare and the supplement will cover you anywhere in the US where Medicare is accepted. If you buy the Plan G supplement, you also receive $50,000 coverage for foreign travel emergency. I can help you with this. Hans 919-535-8261 Hans@CardinalGuide.com
@@CardinalAdvisors thank you I’m a few years away from retirement but am doing my research now. I will keeping viewing your channel and reach out when appropriate. Thank you.
Best video on the topic I’ve seen so far. Thank you.
Thank you
I will have Tricare For Life also. Do I need to buy a supplement?
You do not need a Medicare supplement with Tricare for life. Thanks for your service to our country.
@@CardinalAdvisors TY for your very informative video. I was always confused and did not know what to do. Now I just wait till I'm 66 if the man above let's me.
Thanks. You are the best.
Dear Cardinal Advisors - After the first year, you must request to go back to Original Medicare between October 15th and December 7th, you stated this. Is this any year you can do this until you die? It would make sense to go if I am healthy to start on Medicare Advantage (Aetna) the years later switch to original with (Aetna) just thinking.
Each year you can change from Original Medicare to Medicare Advantage or the reverse. The problem comes with health conditions or health questions from the Medicare supplement insurance company. If you develop serious health problems and want to apply for a Medicare supplement policy to go with Original Medicare, the insurance companies could turn you down. Hans
Easly understandable great work on explaining the basics of medicare. One criticizism is that delaying medicare usually involves delaying part B only since part A is usually a entitlement at no charge.
From what I understand, if you delay Part D you will pay about $25.00 a month late fee per month for the rest of your life!
@@kevinmontgomery1383 I'd have to look into it. What I'm referring to is for people still working and still getting medical from thier employer and dont want to pay for both coverages. For part D the penalty is applied when delaying but only if your dont have creditable coverage from employer state programs.
@@nickmcgruber7052 Hey Thanks. I am 64-1/2.My wife and I have coverage until we turn 70. I would sure like to know the ins and outs.
Great information thank you for the video sir.
Hi thanks for the video. I would like to know original Medicare shows on your board 148.50 @ month. What is the extra cost of Medicare advantage? I did not see a cost there .
When you sign up for a Medicare Advantage plan (Part C); you are agreeing to receive your Medicare benefits from a private insurance company instead of directly from the government. The government then makes a large payment to the private insurance company which you never see. Your out of pocket premium to the insurance company for the Advantage plan is usually small or many times zero. Send me your zip code and I can send you choices and examples in your area. Text to Hans at 919-714-3397 or email Hans@CardinalGuide.com. Thanks Hans
Leaves out a lot of people though, for example those with employer retirement health coverage. That often mutates into a plan integrated with Medicare at 65, these days often absorbing A and B into a Medicare Advantage plan or something. You can miss critical deadlines and decisions and end up in the cold or paying some big bills.
I'm turning 65 this Aug 2021 I'm unemployed through out the pandemic but I'm still on my husband coverage, should I still go ahead and sign up for medicare? Thanks so much for the information, looking forward hearing from you, and I also subscribe to your channel
Marjorie If your husband is still working, the coverage is great, and it costs him less than $200 per month: delay Medicare Part B enrollment until he retires. If he retires or the coverage is not great or it costs him a lot to have you on it, sign up for Medicare Part B and purchase either a supplement or an advantage plan. Thanks for watching! Hans 919-714-3397 or Hans@CardinalGuide.com
what route did you take for your retirement?
I have Tricare and to keep it I needed to apply for Part B. I am still working and have FEHB. I am considering getting an advantage plan for the extra coverage and suspending FEHB. Do you think that having an advantage plan along with Medicare and Tricare is advisable or needed?
I would get Medicare B, stay on Tricare, and forget the advantage plan
Super presentation. I’m on a supplement plan with blue cross. Very surprised how expensive my total annual bill is -over$8000 with drug plan. The IRMAA is absurdly high
Thanks for the compliment. Is the $8000 from Blue Cross Med Supp+Drug plan+deductibles/copayments+IRMAA?
@@CardinalAdvisors Yes. $8076 is the total for me. My previous BCBS was about $11000 for my coverage plus $3000 family deductible. I was surprised it was so close for Medicare
@@CardinalAdvisors this doesn’t cover deductibles or copayment
Oh I thought this was a common core video. I was like, how do you turn 60 into 2021? I gotta see this
Nice presentation. Unfortunately, all this complexity could have been avoided but that is how consultants, companies etc. make money.
If one takes a Part G supplement, does one still pay a monthly Part B fee? I didn't see this mentioned in the video; Otherwise excellent info!
Mark Yes to the Part B monthly premium. $148.50 monthly in 2021. If you have a high income, Part B is more. Called IRMAA. The Plan G is with a private insurance company. I’d love to help you with this. Hans@CardinalGuide.com or text 919-714-3397 Thanks Hans
John, I turn 65 in June and plan on retiring in September. My employer based Medical coverage should cover me until Oct 1. Do I apply for parts A/B in July given there is a 3 month window?
Also, I plan on beginning my SS for Oct 2021 as well.
You can start Medicare Part A June 1st at no cost to you. I would do that just to get into the system. You can delay starting Part B until September 1st or October 1st to save the $148.50 monthly for Part B. We can help you with either a Medicare supplement or Medicare Advantage plan to start October 1st. Thanks Hans
If my memory is correct because u are turning 65 this yr, u can't start your S.S until your 66+2months.
@@fghtrpiolet From Social Security: “If you were born in 1956 your full retirement age is 66 and 4 months
You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.”
Thanks for watching my video. Hans text 919-714-3397 or email Hans@CardinalGuide.com
what route did you take for your retirement?
This was super clear ... I just have one question. My husband (62) plans on retiring when he's 69. He will sign up for Medicare at 65 ... but he will be under his work insurance for 4 years after that. For the supplement, does the 6-month open enrollment begin when he gives up his work insurance, or does he lose out on it since he'll be working for far longer than 6 months after he signs up for Medicare at 65? tia
The 6 month open enrollment period starts when he signs up for Medicare Part B. So for him age 69. Make sure he only signs up for Part A at 65 and delays Part B until he retires. Thanks for listening. Hans
@@CardinalAdvisors Oh my goodness, you actually answered! And quickly! Thank you so much!!! :)
Great information! Thank you!
Excellent video and thank you