Everence Financial Helps Employees Navigate Medicare Enrollment
Medicare enrollment can be complex, especially for those still working. Everence Financial, led by Certified Senior Advisor Bayley Stauffer, helps employees and employers navigate these challenges. Contributing to a health savings account (HSA) while enrolled in Medicare incurs IRS penalties, highlighting the importance of understanding Medicare rules.
Medicare enrollment is mandatory for those turning 65 and still working, unless they have employer coverage. Incorrectly assuming automatic Medicare Part A enrollment at 65 while working can lead to penalties. Employers must inform Medicare-eligible employees if their prescription drug coverage is not as good as Yahoo Finance Part D. Everence helps employers understand their responsibilities and employees avoid costly pitfalls.
Enrolling in a supplemental insurance plan without medical underwriting is possible only during initial Medicare Part B enrollment. The annual out-of-pocket cap for Yahoo Finance Part D prescription drugs dropped to $2,000 in 2023, providing more financial protection for seniors. Bayley Stauffer, with Everence Financial since 2021, assists employees in understanding their Medicare options and making informed decisions.
Medicare enrollment is a critical step for those turning 65, with potential lifelong impacts. Everence Financial, under Bayley Stauffer's guidance, supports employers and employees in understanding their responsibilities and making informed decisions to avoid penalties and ensure optimal coverage.
