Medicare Delay Period (continued)

This process has been greatly simplified. Regardless of when the individual turns 65, overage now starts the first of the month after the individual enrolls:

This change is only applicable to Medicare Part B. There is no change for those who qualify for Medicare Part A. This coverage begins the month the person turns 65 (for those with a birthday on the first of the month, coverage begins the month before he or she turns 65).

Also, your Medicare Part B clients will see a slight decrease in premiums and deductibles in 2023. The Part B premium will be $164.90 in 2023, down from $170.10. This is the first decrease since 2012. Likewise, the annual deductible will drop $7 from the $233 in 2022 to $226 in 2023.

On the other hand, the Part A premiums and deductibles are going up a slight amount next year. However, it’s important to note that 99% of Medicare recipients don’t have to pay anything for Part A because they’ve worked 40 calendar quarters (10 full years) while paying Medicare taxes.

Finally, Medicare enrollments happen throughout the year. As people reach age 65, they are still applying for Medicare benefits. Medicare Connector is your best option to get material submitted on time.

Medicare Connector is our online, single sign-in quote and enroll tool for Medicare to help you better serve your clients while staying compliant. If you have questions about Medicare Connector, reach out to your SRM!

You must be appointed with LeClair for each carrier you would like access to for quoting and enrolling on Medicare Connector. If you would like more information regarding appointment consolidation or adding a new appointment, please fill out the Appointment Interest Form

If you have questions, please contact our Medicare team at 651.739.2010.