When I was 16 and applying for a driver’s license, I studied rules of the road, probably my first challenge to understanding unfamiliar facts. After that came the SATs. The GRE and the LSAT. Each time, I studied, finally figured it out and passed. But now that I'm in midlife I'm facing a much bigger challenge: understanding Medicare
Believe me, it is the most complex test yet. But I am forging ahead because this is part of my professional life and also I am a caregiver in my personal life, Believe me, it is not easy. Sitting in front of me right now is the 130-page handbook, Medicare and You 2022. Sent to all beneficiaries by the U.S. Department of Health and Human Services, it's a confusing read.
First off, let me assure you that if you find Medicare confusing, you and I belong to a very large club. It includes not only the almost 55 million in the U.S. who are now over 65, but also those who love them.
By 2040 the population of American adults who will be 65 and older will nearly double and that of adults age 85 and older will quadruple during the same period. As our aging population grows, the need for elder care will also increase --yet there are not enough workers and programs that are fully capable of handling this burden.
Medicare is an important benefit, but our country lacks a single national health insurance program -- or even standard medical insurance policies --so most issues are confusing. Do not try to do this alone. There are resources, both public and private, and I urge you to use them-- because failure to do so can be financially and emotionally costly, even ruinous, to you and your family.
Elder care is not a single act. Rather, it is a long process, usually taking years of big and small decisions and acts, each based on unique needs.
The only single rule is this: do not try to go it alone. Clearly, caregivers and care recipients should work together, listening together to advice from trusted medical, social service and financial experts – and then sharing their separate impressions.
A question I am asked often: Who can help me enroll in a Medicare Plan?
It’s fine for friends and family to help you work through the Medicare plan selection process, as long as you follow a few basic guidelines.
An agent or broker will need information about you and your providers to help you choose a Medicare plan.
A friend or family member can be present while you discuss your Medicare coverage options with an agent or broker.
If you want Medicare to share your personal information with someone else, you’ll need to complete an authorization form.
Someone can act on your behalf if you’ve created power of attorney.
Private Medicare carriers require a disclosure authorization in order to discuss your coverage with a loved one or friend.
But please remember to talk this through. Communication is key in this new world of elderhood. Learn to speak the language. And do not be afraid to say, “This is new to me, please explain.”
Need more info? Contact Curtis Smith: curtis.smith@thrivent.com