If your parents are nearing retirement age, you might want to make sure they’re on the right track for health coverage past 65. Broaching the subject of your parents’ financial stability can be difficult. Here are a few things to keep in mind.
Know the options: More and more people are working past 65 when Medicare benefits begin for most people and there is no need to make any changes if coverage is still available through an employer. Depending on your parents’ needs, it can sometimes be cheaper to stay with a group plan and sometimes more cost effective to go with Medicare and add supplemental coverage to fill the gaps.
Ask an expert: If your parents are exploring their options an agent can provide them details about pros and cons and affordability of Medicare vs. a group plan.
Be prepared: Medicare doesn’t automatically start at age 65 unless the Social Security benefits are already being dispersed. If not, contact Social Security to start Medicare coverage three months before turning 65, if that is when your parents choose to begin coverage.
Know their needs: If your parents are already receiving Medicare, ask them to go over their current health insurance policies with you to ensure adequate coverage. Get a list of current medications and providers.Disclaimer: Network restrictions apply with Select plans. Neither Avera Health Plans nor its agents are connected with Medicare or state or federal government. This a solicitation and you will talk to an Avera Health Plans sales associate but are under no obligation to purchase.