Covid-19 has affected all of us in unprecedented ways. Hawaii is now in its second stay at home order and many predict that this will further decimate the remaining businesses that remain open. With the uncertainty of the situation, many are scared of what to do in regards to their health insurance.
If you are fortunate enough to be eligible for Medicare then that will probably the least expensive option. The first step is that you probably have Medicare Part A but not Part B. To get Part B in this situation, you will need to submit two forms to Social Security. The first is the CMS L564 and the other is CMS 40B. Social Security requires these two forms to process your Part B. From there you should either consider a Medicare Advantage plan or a Medigap and standalone prescription drug plan. Contact one of our agents and we will assist with helping you fill out the forms, submitting it to Social Security, and going over your options. This is a free service to you and don’t hesitate to ask for help.
The other option would be to go onto COBRA if your employer is eligible. I usually would not advise this route because the cost of COBRA usually is more expensive than Medicare plus you may face late enrollment penalties after a certain point.
For those that are not eligible for Medicare, again there is COBRA if your company is eligible, MedQuest which is from the state of Hawaii but you would need to qualify based on your income, and the final option is the ACA plans through www.healthcare.gov. You may qualify for a tax credit for those plans.
Hawaii is a resilient state that thrives on extending aloha to one another. Let’s get through this together. If you need help, do not hesitate to contact us. Our service to you does not cost anything!