Part B Eligibility Question

[Cenla Agent]

The insureds line of thinking was probably, "ok, I have to pay for Part B of Medicare, and, I have an ACA plan I'm currently paying for. I'll decline Part B".

There is no telling how many people with a fat subsidy are doing this and hoping they can get away with it. That may not be the case with the guy in the OP but it is with some.

Back in the day most people who weren't on group were overjoyed when they got Medicare because either they were uninsured or they were paying high premiums for major medical. Now some people who have been on a heavily subsidized ACA plan are getting sticker shock with Medicare, especially if they want a Supp, with that plus the Part B and D premiums.

Full retirement age being 66 seems to be an issue as well, as it works more seamlessly when SS and Medicare all start at the same time. It seems that I'm running into more and more people who have made mistakes with Part B because they didn't sign up in time. Others are forgetting to pay their Part B premium.

 

[DS4]

There is no telling how many people with a fat subsidy are doing this and hoping they can get away with it.

Like this client of mine. She is getting a $635.63/month subsidy. Only pays $1/month. She is mad she has to pay $121.80/month for Part B of Medicare as of 6.01.16. Therefore, against my advice, she is keeping her $1/month ACA plan because her neighbor, who sold insurance 20 years ago, told her she could.

 

[yorkriver1]

Like this client of mine. She is getting a $635.63/month subsidy. Only pays $1/month. She is mad she has to pay $121.80/month for Part B of Medicare as of 6.01.16. Therefore, against my advice, she is keeping her $1/month ACA plan because her neighbor, who sold insurance 20 years ago, told her she could.

How I reacted when my client told me he did this: https://www.youtube.com/watch?v=kwf1U_JQKZU

My lower income client who did this also waived Part B in 2014, as if he was on group insurance with 20 or more employees. He never called me, he just decided on his own he had made the "smart money" decision. When he came up for fall renewal he found that he would owe back the tax credit, and that he was now delinquent in signing up for Medicare B, so he would have to wait until January to sign up, and B would not be in effect until July 1.

We signed him up for an MAPD on 7/1/15. I think he was just above the income line for Medicare Savings Program that would have paid his Part B.

Since then, both Healthcare.gov and I have been contacting those who are turning 65. I also believe some insurance carriers are doing so, too. Watch out, as some of those may try to sign up your client on an MAPD or PDP.