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Along with your bucket list trip to the Bahamas and swimming with dolphins, is there anything else you should do before your 65th birthday? Turning 65 List | 10 Things you should do before your 65th birthdayAs an independent Medicare advisor with Founders Life And Health, I will be helping you to discover the 10 most important things you should do before your 65th Birthday to get the best out of your Medicare plans. I always find a checklist is one of the best ways of getting organized, so don’t forget to make a note somewhere safe to keep you on track! So let’s dive straight in with the short answer before heading into a little more detail.
Let’s start by exploring one of the most important things to do in the six to nine months before you turn 65.1. Contact your doctorOne of the crucial points to add to your to-do list before you hit 65 is to get in touch with your doctor. This will help you to be ready and prepared for your Medicare by getting a head start. Contact your doctor ideally around 9 months before your 65th birthday, but anytime up until 6 months before is also ok. Your main goal when getting in touch with your primary care doctor is finding out whether they accept Medicare. One of the crucial things to add to your to-do list before you hit 65 is to get in touch with your doctor.” 2. Decide if you are going to continue workingThis is possibly one of the most crucial steps in making sure you are fully prepared and one of my top 10 things to do before your 65th birthday. Are you looking to continue working or are you looking forward to a relaxing retirement? If you are going to continue working and your current employer has group coverage this can be taken into account as to whether or not you’re going to take Part B of Medicare. For more helpful information on this subject, don’t forget to check out my article How Does Medicare Work if I’m 65 and Still Working? Now, this brings us on to the third important thing on your list of 10 important things to do before your 65th birthday. Read on to discover more! 3. Are you taking social security at 65 or 66?If you decide to take Social Security at either 65 or 66, then it’s likely to affect your Medicare in a different way than if you decided to leave it until you reach 70. It’s worth understanding that if you delay receiving Social Security benefits until after age 65, you might still need to apply for Medicare benefits within three months of turning 65. This is to avoid paying higher premiums for life for Medicare Part B and Part D. If you are still receiving health insurance from your or your spouse’s employer, however, then you might not yet have to enroll in Medicare. 4. Look at your current health plan in detailIt’s important to make sure you are getting the most out of your Medicare plan to take a look at your current health insurance. If you have a group plan right now, talk with your expert Medicare advisor about what is working for you or things you would like to change. You can use this information moving forward to decide whether you will go with a Medicare Supplement, or whether you choose an Advantage Plan, instead. 5. Make changes to your HSA if you have health savingsNo.5 in my top ten list of things to do before your 65th birthday, to really get the most out of your Medicare package, is make sure you make the necessary changes to your HSA. It’s important to understand you will no longer be able to contribute to that account. So make sure in the 6 to 9 months before you turn 65 that you may want to STOP your contributions. It’s worth knowing that you can still use these funds post-retirement. So make sure you take a good look at your HSA and ensure you have everything ready and lined up neatly for your 65th birthday. 6. Learn and understand the basics of MedicareI would go as far as to say this is probably the most important step to make sure you have covered before reaching the age of 65. Learning what each part of Medicare does is important to understand…and forms one of the things you should do before your 65th birthday. Here’s a quick overview below:
You should also make sure you have a good understanding of Medicare Supplement versus Medical Advantage Plans. This will help you begin to think more clearly about how you want to move on with your Medicare Plan once you reach 65. Ok, so let’s fast-forward to about four months before your 65th birthday. It’s time now when you really should start doing some comparison shopping on Medicare. 7. Medicare Supplement vs Medicare AdvantageSo when deciding between these two Medicare plans, there are a few things to make sure you concentrate on.
Understanding how they work individually is crucial with one of the most important questions to ask is “do you have to choose a provider from a network?” Let’s discover a little more below. 8. Check out if you can use your own doctor with MedicareSo going back a little to number 1 in my checklist of 10 things to do before you reach 65, you need to find out if you can still visit your own doctor or whether you will need to choose one from another network 9. Check travel and MedicareIf you are a regular traveler across the states and all over the globe, then generally the best plan for you would be a supplement plan, rather than an Advantage Plan. 10. Understand prescription costsMake sure you sit down with a Medicare specialist and look together at the prescription drug plan you are on currently. Together you can figure out the costs for all the different types of plans. So for example, is yours a prescription drug plan or whether it’s a Medicare Advantage Plan. It’s crucial to make sure you check your drugs are on the company’s drug list and also make sure you can use your own pharmacy. Or if not, that you can get them mailed to you. If you have a Supplement Plan, you will need to find out how often the rates increase. Find out if you are covered for dental, vision, and hearing. Hopefully that’s helped you understand a little more about the ten things you need to do before you are 65 in regards to your Medicare Package. Once you have enrolled, here are a few last checkpoints:
Don’t forget to get in touch with any questions you may have about any aspect of Medicare As an expert Medicare advisor, I can help to explain all things Medicare! And answer any questions you might have. I look forward to catching up with you on my YouTube channel with new topics added weekly. If you have any ideas for topics I’d love to hear from you! About the AuthorHello! I’m Jo Hutchison and I’m the owner of Founders Life & Health. I’m a proud baseball mom, lover of live music and all things potato.. My husband and I have two great boys and two lazy hound dogs. My boys play a LOT of baseball so when I’m not helping my clients we can almost always be found on a baseball field somewhere in the Midwest.
I’m a member of NAIFA (National Association of Insurance and Financial Advisors) and a member of NAHU (National Association of Health Underwriters). I spend a good deal of my time working on educational outlets and working on healthcare policy change to help bring comprehensive and AFFORDABLE coverage to everyone. Nothing makes me happier than sharing the tidbits of knowledge that I know about the Medicare and health insurance world so people can make the most informed decisions about what plans they need. The most important thing that I have learned through the years in this business is that each client has very different needs. Our goal is to listen to you, assess your needs, and use our experience and knowledge to help you make informed decisions about your health care coverage. We are an independent brokerage so we advocate for our clients, not the insurance companies.
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