AGE 65 DECISIONS

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=90 BGCOLOR="#006699" TEXT="#080000" bgproperties="fixed" background="039285a1erlcgo.png"> <div> <FONT SIZE="5" COLOR="#FFCC66" FACE="Arial" ><B>LIFE, DISABILITY, MEDICAL, MEDIGAP, DENTAL, LTCI and ANNUITIES </B></FONT><B>     |     </B><A HREF="index.htm" TARGET="_top" TITLE="LIFE, DISABILITY, MEDICAL, MEDIGAP, DENT"><U><B>home</B></U></A></div> <div>                                                   </div> <div> </div> </td> </tr><tr> <td valign="top" width=210 BGCOLOR="#FFCC66" TEXT="#080000" background="038d2c00dkelyh.png"> <div> W. Forrest Veal, CLU</div> <div> P. O. Box 700222</div> <div> Dallas, TX 75370</div> <div> 972 250 6516</div> <div> 1 888 845 8325</div> <div> Fax 1 775 542 0808</div> <div> E-mail - vbsinsurance@juno.com</div> <div> <A HREF="id69.htm" TARGET="_top" TITLE="TEXAS DEPARTMENT ON AGING"><U><B>Texas Department on Aging</B></U></A></div> <bR> <div> <A HREF="http://www.socialsecurity.gov/retirement/" TARGET="_top" TITLE="http://www.socialsecurity.gov/retirement"><U> </U></A></div> </td> <td valign="top" height=390 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I>AGE 65 DECISIONS</I></div> <div> Unless a person becomes eligible sooner due to disability, attaining age 65 is the time to enroll for Medicare. The following information will be helpful in making decisions regarding Medicare. The following are only general guidelines to help you. It is your responsibility to ask the Social Security Administration for information applicable to your situation.</div> <bR> <div> <B>IF YOU ARE WORKING AND PLAN TO RETIRE AT AGE 65 -</B></div> <bR> <div> You should contact the nearest Social Security Office at least 3 months before your 65th birthday and let them know you want to enroll for Medicare Parts A & B. The Social Security Administration Toll-free telephone number is 1 800 234 5772. They will direct you to your nearest office. If you also need to apply for your SS benefit, you should be able to accomplish all this thru a telephone appointment which is much easier than going to their office and waiting in line. Because of the "gaps" in Medicare Coverage, you will want to consider one of the insured plans designed to fill in the "gaps". See "Medicare Supplemental Insurance", below.</div> <bR> <div> Important Note: If you are eligible for COBRA continuation of medical coverage through your employer be aware that COBRA coverage will not be your primary payor and you still need to enroll for Medicare Part B. Also, when you enroll for Part B you start your open enrollment period for obtaining a Medigap policy without medical underwriting.</div> <bR> <bR> <div> <B>IF YOU PLAN ON CONTINUING TO WORK AFTER AGE 65 -</B></div> <bR> <div> and you are covered by your employer's group health insurance plan, there is some information you must determine to make the right choices. If your employer has less than 20 employees, you need to determine if the health insurance plan pays primary or if it expects Medicare to be the primary payor. If your group health plan is the primary payor, which is required when the employer has 20 or more employees, then you may want to enroll only for Medicare Part A and save the premium you would have to pay for Part B. About $50 monthly. Caution - if your employer has less than 20 employees and you find that the group medical plans will pay as primary, remember that your employer can change insurance companies and the next one may not pay as primary.</div> <bR> <div> When you do retire, you will have the opportunity to enroll for Part B and there should be no penalty for late enrollment. Be sure and discuss this option with the Social Security Administration so you will understand the rules. You will also want to consider one of the insured plans designed to fill in the "gaps" in Medicare Coverage. See "Medicare Supplemental Insurance", below. </div> <bR> <div> Important Note: When your Part B coverage starts, you have a 6 months open enrollment period. If you apply for a Medigap policy after your open enrollment period has ended, the Medigap insurance company is allowed to use medical underwriting to decide whether to accept your application, and how much to charge you for the policy.</div> <bR> <div> <B>IF YOU PLAN ON CONTINUING TO WORK AFTER AGE 65 -</B></div> <bR> <div> and have your own individual health plan, you need to determine if your plan terminates at age 65 or if you can keep it as a supplement to Medicare. Be sure to review the conditions under which this coverage can be terminated so that you will not lose your open enrollment period to buy a Medigap Policy. You will want to enroll for both Medicare Parts A and B. If your individual plan terminates, see "Medicare Supplemental Insurance", below.</div> <bR> <div> <B>MEDICARE SUPPLEMENTAL INSURANCE OR MEDIGAP POLICY -</B></div> <bR> <div> When you retire and no longer have coverage to supplement Medicare,  you will want to consider a medicare supplement plan sometimes referred as a Medigap Policy or you may want to consider a Medicare HMO plan to replace both Medicare and a supplement plan. You may go to the Medicare Site by clicking on the external link shown below to find helpful information about Medigap Plans available from the Insurance Companies offering these plans in your area. To obtain a quote for a Medicare Supplement Plan, click <A HREF="id34.htm" TARGET="_top" TITLE="REQUEST FOR QUOTE"><U>"Request for Quote"</U></A>, or if you need assistance with purchasing a Medicare Supplement Plan, please call W. Forrest Veal, CLU as he can help you.</div> <bR> <div> <A HREF="http://www.medicare.gov" TARGET="_top" TITLE="http://www.medicare.gov"><U><B>http://www.medicare.gov</B></U></A></div> <bR> <div> <B>To return to the Table of Subjects, click "home" in the above blue border.</B></div> </td> </tr></table></body>