Aging Well in Maine

Are You Too Old for Marketplace Insurance?

 

Hello from Holly…

Are You Too Old for Marketplace Insurance?
Believe it or not, you might be! If you’re currently on a Marketplace (Obamacare) insurance plan and you’re 65 years old or older, you’ve outgrown your policy.

When the Marketplace came into being, it was designed for people UNDER 65 who might be without insurance. It was not designed for those 65 or older, because Medicare was already in place for you.

When you turn 65, since you are eligible for Medicare, you will lose any Marketplace subsidies or tax credits you receive. It’s your responsibility to make the switch from your Marketplace plan to Medicare – this does not happen automatically. Although Medicare may cost more than your Marketplace plan, Medicare gives you better coverage at a time you’ll need it more.

If you wait to enroll in Medicare, you will pay a 10% penalty for life on your Part B Medicare premium for every year you delay enrollment. On average, people who wait to enroll in Medicare are paying 30% more in premiums than those who enrolled at age 65. But here’s the good news: Although the switch can be a bit confusing, there is free help out there for you. You can call your Area Agency on Aging, for one-on-one help getting you dis-enrolled from the Marketplace policy and enrolled in Medicare. Call us today at 1-800-427-1241.

If you want to do it on your own, please remember there are two steps.
Step One: Enroll in Medicare. You can sign up online at www.ssa.gov or call 1-800-772-1213. If you need more information about the Medicare choices that work best for you, before you enroll, call your local Area Agency on Aging at 1-877-353-3771 for free, unbiased assistance.
Step Two: Dis-enroll from the Marketplace. You can dis-enroll online at www.healthcare.gov or call Consumers for Affordable Healthcare at 1-800-965-7476 for assistance in dis-enrolling from your Marketplace plan.

Holly Zielinski is the Director of Community Services for SeniorsPlus

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