Medicare: Let’s Break it Down!
Medicare: Let’s Break it Down! Before I launched Loving Later Life I asked many women 50-60+ what kinds of topics they’d like me to talk about, and one that kept cropping up was Medicare. Please have someone on your podcast who can make it easier to understand was the consensus. Welcome: Stephanie Frisch.
Stephanie Frisch is a Medicare Options Specialist, and she is here to help make Medicare less confusing! Yes, it is possible! Stephanie is now 56 and got licensed in insurance on her 40th birthday. She started specializing in Medicare in 2010, gave many talks for large insurance companies for 8 years, and did Medicare presentations for various assisted living facilities for 10 years until the Covid pandemic.
Stephanie lives with her husband in San Juan Capistrano California where she also has an office and a client base of over 1500 people. She has published articles both in a local magazine and newspapers to help people understand Medicare. She has been involved with many non-profit organizations, served on several boards, and is a member of the San Juan Capistrano Rotary fulfilling her desire to serve her community.
Her website is www.yourinsuranceeducation.com and her email is: insuranceeducation@att.net .
Not be missed take-ways:
1. Medicare can be very overwhelming. There were even more take-aways than these 12 so you may want to listen to this more than once!
2. If you’re still working, you don’t need to go on Medicare if you have large group insurance. Keep that until you retire because if you make a certain amount of income, you’ll pay more for Medicare. (Listen for more details)
3. The only time someone will be automatically enrolled in Medicare is if they’re taking Social Security early.
4. Medicare covers 80% of your medical expenses. To cover the balance, you want to find someone like Stephanie to figure out what’s best for you, whether it’s a Medicare Advantage Plan or a supplement to suck up the 20% that Medicare doesn’t cover.
5. There are lots of potential penalties if you don’t sign up for certain things on time; some of which stay with you for the rest of your life.
6. Anything that starts with the word routine, Medicare doesn’t cover.
7. The worst thing you can do is to try and figure this out on your own. Getting help from someone like Stephanie is at no cost to you.
8. Never call on promotional commercials for the Medicare Advantage Plans. They won’t offer everything for everyone’s specific needs.
9. Three months before you turn 65 is your initial enrollment period. That’s when you create our account on socialsecurity.gov and that’s when you apply for Medicare to get your card and number…
10. Not to be confused with annual enrollment period which is only for people who are already Medicare beneficiaries.
11. Find out about special election periods.
12. The maximum out of pocket on a Medicare Advantage plan refers to the most that you will pay for medical services in a year. Prescription drug copays are not included in the maximum out of pocket.
13. Prepare for the future as best you can now.
And your mission, that I hope you’ll choose to accept…
1) If you are close to being eligible for Medicare or have it and have questions during this time of open enrollment, seek advice from a Medicare broker, and you can also contact Stephanie.
2) Please share this episode with anyone you feel will benefit from hearing it.
3) If you need to, listen and repeat. I did!!
Thank you so much for listening! And until the next time, live passionately, vulnerably, and keep loving later life!
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