Newburyport Public Library

Maximize your Medicare, qualify for benefits, protect your health, and minimize your costs, Jae W. Oh, MBA, CFP

eng

illustrations

index present

non fiction

Maximize your Medicare

1259050312

Jae W. Oh, MBA, CFP

qualify for benefits, protect your health, and minimize your costs

A guide to help understand how and what to choose when deciding on Medicare options for 2022-2023

Introduction -- Medicare is a mystery: It doesn't have to be -- Why is Medicare so important? -- Why is Medicare so confusing? -- How to use this book -- Avoid mistake #1 -- Very brief history of Medicare -- Ignoring Medicare noise is difficult -- Chapter 1. Enrollment -- Medicare eligibility -- Signing up for Medicare -- Can I delay enrollment in Medicare? -- Late enrollment penalties -- Medicaid -- Conclusions: Thinking ahead is key -- Chapter 2. Medicare Part A -- Eligibility -- If you don't qualify -- Part A benefits -- Key term: Benefit period -- No annual out-of-pocket limit -- Chapter 3. Medicare Part B -- Premium -- Annual deductible -- Coinsurance -- Part B coverage -- Coverage details -- Sources of Part B confusion -- Canceling Medicare Part B -- No annual out-of-pocket limit -- Chapter 4. Prescription drug coverage -- The basics -- Eligibility -- Enrollment -- Prescription drug plan terms -- The standard Part D plan -- The complicated calculations involved in Part D -- Why people misunderstand the coverage gap -- How to choose -- Important hints on using the Medicare plan finder -- Preferred pharmacies and mail order -- Changing plans -- Important extras -- Chapter 5. Medicare Advantage -- The basics -- Types of Medicare Advantage plans -- Medicare Advantage prescription drug plans -- Enrollment -- Annual election period -- Medicare Advantage twelve-month trial right -- Open enrollment period -- How to choose -- How to compare Medicare Advantage plans -- Medicare Advantage has improved -- Consumers must understand networks -- Surprise medical bills -- Medicare Advantage extras -- Medicare and Medicaid -- Extra help and Medicare Advantage -- Snowbirds -- Foreign travel -- Chapter 6. Medigap -- Medigap enrollment -- Medigap Coverage -- Medigap and Medicare Part A -- Medigap and Medicare Part B -- Premiums -- Advantages of Medigap -- Switching to Medigap -- Switching from Medicare Advantage to Medigap -- Special topics -- The bottom lines -- Chapter 7. Working beyond sixty-five -- People are working longer -- Small employer -- Base case: Medicare is superior -- Large employer -- Employer group plans and the coverage gap ("Donut hole") -- If you decide to cancel -- The bottom line --Chapter 8. Retiree benefit plans -- Retirement from a small employer - Retirement from a large employer -- The base case -- Medicare retiree and non-medicare spouse -- Retiree and medicare-eligible spouse -- If your employer cancels retiree health benefits -- Employer-sponsored Medicare Advantage -- Dental, vision, and other benefits -- What employers can do -- Conclusions -- Chapter 9. Special groups -- Veterans Administration (VA) -- CHAMPA and TRICARE for life (TFL) -- Disabled -- Disabled and employer-sponsored plan -- ESRD and COBRA or employer-sponsored plan -- Federal employee health benefits (FEHB) -- State and local government employees -- Educators -- Unions -- Hospital (and other health-care employees) -- Small business owners -- Professional "associations" -- Seriously ill -- Conclusions -- Chapter 10. The savvy Medicare consumer -- Putting it all together isn't easy -- Ignore the noise -- Dealing with Medicare problems -- Professionals, amateurs, and advertisements -- Last tips -- Experts' addendum -- Insurance is an option -- Health insurance is different -- Options are priced using probability -- Everyone is "short" an option -- Sources of volatility -- Changes to the Medicare system -- Comparing apples to apples -- Medigap vs. Medicare Advantage revisited -- Our national long-term care problem -- Insurance-based solutions exist -- Long-term care insurance -- Life insurance basics -- Life insurance and living benefits -- Annuity-based solutions -- These options are difficult to analyze

adult