I’m Losing My Employer Retirement Plan, What Do I Need NOW? What Should I Do?
QUESTION : I am losing my Retirement Plan from my company I worked at for many years. They are telling me that I can only choose between plans they are giving me at this insurance enrollment number. If I use another enrollment method or get different plans from what they are offering they won’t pay for it anymore. Can they do this? What do I really need to be concerned about getting on Medicare?
ANSWER: Yes, Virginia, there really is a Santa Claus! I’m sorry for being sarcastic, but it is amazing to me that companies out there are trying to confuse people getting on Medicare. YOU STILL HAVE CHOICES JUST LIKE EVERY OTHER AMERICAN CITIZEN WHEN THEY ARE FIRST GETTING ON MEDICARE!! What your company is really saying is…..we have made a deal with these “certain” insurance companies that if you “enroll” with them AND take out the plans “we want you to take out” WE WILL HELP YOU PAY FOR IT.
Most people when they retire go on Medicare with no financial help. Usually if you have retired from a company, you can afford the $100 a month, give or take a little, for premium on a MedicareSupplement/Medigap plan, which is most certainly the best coverage and what you should be offered. If you are desperate and cannot afford this premium, THEN and only THEN should you take up the offer from your employer and join a
