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Regarding the 10% per year penalty for not signing up

 
 
Reply Mon 29 Nov, 2010 12:27 pm
Regarding the 10% per year penalty for not signing up

I have a question.

My wife Tita was asked to sign up for Part B in February 2009.
I advised her not to sign up for Part B because my Health Net Family Plan (High Option) is just as good if not better than Part B.

However, I overlooked what might happen 10 years down the road.
What if Tita were to somehow lose her Health Net Plan 10 years down the road? Like if we were to divorce.

She would then be stuck in a really bad situation. Because of the 10% penalty per year for not siging up with Part B in February 2009 she will be penalized so heavily that she will no longer be able to afford Part B.

So that means she would be stuck without any Health Plan whatsoever.
And at a time in her life when she will a Health Plan desperately.

Here is my question:

Is there anything I can do to make my wife's situation better? I'm referring to what might happen 10 years down the road.

Mel
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roger
 
  1  
Reply Mon 29 Nov, 2010 12:42 pm
@loonyless,
I haven't really studied the details because exceptions did not apply to me. I do believe there are some, much as there are to Part D (prescription drug coverage). On that, if you have proof of "credible coverage", the rising rates do not apply. I believe there are similar provisions to Part B, but again, you might have to do some digging. Check AARP, and Mymedicare.gov. You might even be in a town with a well informed senior center, but be aware that they are not going to accept responsibility for misinformation they might provide. Be very careful. It is a minefield out there.
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chai2
 
  1  
Reply Mon 29 Nov, 2010 01:38 pm
Is HealthNet Family Plan an HMO through your place of employment?

A person doesn't pay the penalty if they don't sign up for Part B, because they were covered through either theirs or a spouses insurance through work.
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chai2
 
  1  
Reply Mon 29 Nov, 2010 01:39 pm
http://www.medicare.gov/publications/pubs/pdf/10050.pdf


Special Enrollment Period
If you didn’t sign up for Part A and/or Part B (for which you pay monthly premiums) when you were first eligible because you’re covered under a group health plan based on current employment, you can sign up for Part A and/or Part B as follows:
Anytime that you or your spouse (or family member if you’re disabled) are working, and you’re covered by a group health plan through the employer or union based on that work
Or
During the 8-month period that begins the month after the employment ends or the group health plan coverage ends, whichever happens first
Usually, you don’t pay a late enrollment penalty if you sign up during a Special Enrollment Period. This Special Enrollment Period doesn’t apply to people with End‑Stage Renal Disease (ESRD). See page 19. You may also qualify for a Special Enrollment Period if you’re a volunteer serving in a foreign country.
Note: If you have COBRA coverage or a retiree health plan, you don’t have coverage based on current employment. You’re not eligible for a special enrollment period when that coverage ends.
djjd62
 
  1  
Reply Mon 29 Nov, 2010 01:42 pm
@loonyless,
does your wife know you plan to divorce her 10 years down the road?
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roger
 
  1  
Reply Mon 29 Nov, 2010 03:10 pm
@chai2,
Thanks, chai. I think your last sentence was the part I was thinking of when I said 'minefield'.
chai2
 
  1  
Reply Mon 29 Nov, 2010 03:13 pm
@roger,
oh....that was a direct cut and paste off the Medicare website. I'm not smart enough to type all those words.

My husbands of medicare age, but he's on my insurance.

If I leave my place of employment, he doesn't have to wait for a special time to get on medicare, he can sign right up.
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loonyless
 
  1  
Reply Thu 2 Dec, 2010 07:17 am
My Health Net Plan is a Retiree Plan. That's why it is subject to the 10% penalty. I confirmed that by calling Medicare and asking.
So, again, is there anything I can do to make things better 10 years down the road. Also, in response to the question: Does your wife know that you are planning to divorce her? I never spoke the words that I was planning to divorce her. I said theoretically speaking what if we were to divorce? I was merely giving an example of a possibility that could create catastrophic problems for my wife 10 years down the road. It really is unfair to misquote me like that.

Mel
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