It is officially Spring and Allen Heffler Medicare broker is snowed in. Offices in Willow Grove and Bala Cynwyd PA are closed today- Wednesday March 21, 2018. We are checking voicemail and email throughout the day.
Medicare can be very confusing and if there is an employer sponsored plan involved, it adds an extra layer of complexity. I’d like to relay a conversation that I had this morning, since it might pertain to some of you. Wife is 63 years old. Husband is 65. He is retired, they get their health insurance through HIS employer, but they have to pay for it. He is on a very expensive Medigap Plan C (Medicare plans through employer tend to be much more expensive compared to an individual Medicare plan). She is able to maintain her current health insurance. Her current plan is expensive, but a lot less money than getting it on her own. Also, her coverage is superior than getting coverage on her own.
In a perfect world, Allen Heffler would recommend moving husband onto his own Medigap Plan, with the identical coverage and save several thousand dollars a year in premiums. The problem is that if we do that, she would not be able to maintain existing coverage.
The solution was to keep both coverages through existing plan. Bite the bullet with high premiums for another 20 months. When she turns 65, both go onto rich individual Medigap plans. This will save them well over $1,000 a month, and provide them with exceptional coverage. For many of us, birthdays are but a reminder of getting older. However, in this situation, a 65th birthday will result in an extra $1,000/month of savings. Woohoo!
Do you have questions about Medicare? Allen Heffler is President of MyMedicareAdvisor located in Willow Grove, PA. We help you with your Medicare decisions. Call (215) 658-1776. we would love to assist you.