Medi / Medi Sign Up Delayed Again
According to the Kaiser Family Foundation, long-term care Medi-Cal accounted for about 31% of the total Medi-Cal budget in fiscal year 2010. Previously, the deadline for those Medicare/Medi-Cal patients to sign up for a Medi-Cal HMO was September, 2013.
This deadline has now been pushed back until January, 2014. For those Medicare / Medicare supplement (Medigap) PPO, you will be able to keep the PPO coverage. The monthly premiums are deducted from your monthly Share of Cost.
On Wednesday, May 15th and Saturday, May 18th, I held two workshops in the South Bay that were completely full. There were a lot of questions regarding switching a parent’s current Medicare HMO coverage to a Medicare PPO or Medicare only to facilitate entrance to Keiro.
It is important to know that changing HMO coverage to a PPO during the annual enrollment will require medical underwriting. If your parent is advanced in age and has health issues, chances are they will not qualify.
Disenrolling from Medicare HMO to Medicare only means that if there is a co-pay, your parent may be responsible for the co-pay. There is no medical underwriting but there may be a financial risk. This is not an action that should be taken lightly or simply to facilitate entry to Keiro.
Call the office if you have a question or you can set up an appointment for a consult.
Karl Kim, CFP, CLTC is the President of Retirement Planning Advisors, Inc. and is a Medi-Cal specialist. His office is located in La Mirada, CA and can be reached at 714-994-0599 or at RetirementCrisisPlanning.com He has submitted over 1000 applications with a 99.9% success rate over the past twenty years. This is meant to be an educational article. Do not make any decisions solely on the information contained herein. Consult your tax advisor, financial planner and attorney before taking any action. We are not responsible for any inaccuracies or misinformation.
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