If you are eligible for Medicare and paying an employer health plan premium, the decision to enroll in Medicare needs to be made with a high degree of confidence. The Medicare PlanFinder® App will help you accomplish this goal.
US citizens retiring in a foreign country typically receive their Social Security income benefit and are Medicare Beneficiaries. Social Security recipients with household incomes less than $182,000 will pay a 2023 monthly Medicare Part B Premium of $164.90 X 12 = $1,979.00.
Most retired US Expats continue to pay their Medicare Part B premium even though US Expats cannot use Medicare to pay medical claims in a foreign country.
Who’s eligible for a Medicare Advantage plan with a Part B Giveback Benefit?
To be eligible, you must:
– Address on file with Social Security is located in the USA
– Be enrolled Original Medicare (Parts A and B)
The primary reason US Expats keep Medicare Part B is due to the possibility of returning to the USA in the future. Disenrollment from Medicare Part B could trigger the Medicare Part B Late Enrollment Penalty. This penalty increases the future Part B Premium by 10% for each year subject to the penalty. US Expats are generally advised to keep Medicare Part B.
I’m happy to inform US Expats the Medicare Annual Enrollment Period (AEP) provides the opportunity to significantly reduce your Medicare Part B premium. Medicare’s 2023 annual enrollment period AEP starts October 15 and ends December 7.
All Medicare Beneficiaries have the right to change any Medicare plan during AEP.
Medicare’s Open Enrollment Period (OEP) allows members of Medicare Advantage Plans to change plans from January 1st thru March 31st. Depending on your circumstances you may be able to enroll in a Medicare Advantage Plan outside of AEP or OEP if you qualify for a Special Enrollment Period. This will be determined during your consultation.
It may be possible to reduce your Part B premium to zero by enrolling in a Medicare Advantage plan offering a Medicare Part B Premium Rebate. This is possible for US Expats whose mailing address registered with Social Security is in a county where Medicare Advantage Plan providers offer plans with a Medicare Part B Premium Rebate. Part B Premium rebates range from $40/Mo to $165/Mo. These plans usually have a $-0- monthly premium.
Once enrolled in a Part B Rebate Plan, the rebate is provided as an increase in the plan members monthly Social Security income benefit.
Find out how much you can save today by downloading the Medicare PlanFinder® App, available on both Google Play, and the App store. You can also download the app by clicking on the Google Play or App store icons below the video or online at www.medicarefactfinder.net
Use the Medicare PlanFinder App or visit www.medicarefactfinder.net to complete the questionnaire and schedule a free consultation with me (Charles Wright, Founder of Health & Wealth Advisors, LLC) to find out how much you can save. This process must be completed during AEP or OEP.
Founder of Health & Wealth Advisors, LLC.
Minneapolis, MN is my hometown. Graduated from the University of Minnesota and joined AT&T Baby Bell in 1981.
I developed an advisory process called Integrated Healthcare & Financial Planning®. When the economic implications of healthcare are included in the financial planning process, clients save money and get better outcomes.
The Medicare FactFinder® provides a process enabling Medicare beneficiaries to compare the known cost of their most suitable, lowest cost Medicare plan options. This simplifies the Medicare decision making process enabling our clients to select a Medicare plan with a high degree of confidence.
Founder of Health & Wealth Advisors, LLC.
Minneapolis, MN is my hometown. Graduated from the University of Minnesota and joined AT&T Baby Bell in 1981.
I developed an advisory process called Integrated Healthcare & Financial Planning®. When the economic implications of healthcare are included in the financial planning process, clients save money and get better outcomes.
The Medicare FactFinder® provides a process enabling Medicare beneficiaries to compare the known cost of their most suitable, lowest cost Medicare plan options. This simplifies the Medicare decision making process enabling our clients to select a Medicare plan with a high degree of confidence.