YES, There ARE Advantages to Getting Older

Services for Real Estate Pros

SunRecently I 'became of age' and am now eligible for Medicare benefits.  Nevada also provides a secondary carrier "Senior Dimensions" premiums for both of these are less than $100 a month - which is REALLY nice since I was paying almost $400 per month previously.   We were unaware until this year that Nevada even offered a 'no charge' supplement to's true, it's FREE (or at least no more than what you are normally charged for Medicare, which is an automatic deduction from your Social Security check).  The premium that is paid through your Social Security check to pay the Medicare premium is transferred to the secondary carrier (has to be approved carrier).

My husband has been eligible for Senior Dimensions for EIGHT years and we were unaware that this was even an option.  Because he 'missed' the enrollment period (for those already over 65) he is not eligible to be covered by this Senior Dimensions until January.  The enrollment period is November and December of each year.  IF you turn 65 during the year you can sign up 3 months prior to your birthday, and the insurance goes into effect the first day of the month of your birthday (so does Medicare).  Medicare DOES NOT need to be signed up for, you receive your Medicare card approximately three months before your birthday, at least I did. If you do not receive it please contact Medicare.

Prescriptions are also covered, and I refilled all my prescriptions this month @ $3 per prescription (a savings of $50+ per prescription).....I'm now saving about $250 just for these!   Eyes are also covered and I've got an eye doctor appointment this afternoon!  $20 co-pay for the exam, plus a co-pay on the glasses (will let you know that amount later).

We have found that since my husband has been on Medicare that the premiums go up yearly....but for next year they will NOT be going up.  Amazing since everything else is going up at such a quick rate!  Here is the article that was printed recently regarding this:

"Medicare premiums will hold steady in 2009 for the vast majority of the 44 million U.S. beneficiaries, the first time since 2000 that rates haven't gone up.

Monthly premiums for about 95 percent of elderly and disabled Medicare recipients will be $96.40 next year, the Centers for Medicare and Medicaid Services reported Friday (*Sept. 20, 2008).

The announcement may seem surprising, given the fact that medical costs continue to outpace inflation. But Medicare officials said many unusual factors contributed to what will be just the sixth year without a premium increase since Medicare began in 1965.

Premiums have risen in recent years - more than 17 percent in 2005 - in part because Medicare had to build up reserves to offset changes made by Congress to adjust physician payments. Those reserves finally have reached adequate levels.

"It was painful to catch up, but now we have one year in which we can get rid of the catch-up amount and use that to offset the premium increases that otherwise would have happened," said Richard Foster, Medicare's chief actuary, estimating that next year's increases would have been about 8.5 percent.

In addition, the government also discovered an accounting error that benefits next year's rates.

From 2005 to 2007, about $9.3 billion in hospice payments mistakenly had been taken out of the portion of Medicare that beneficiaries pay premiums for, which includes outpatient doctor visits, home health services, physician-administered drugs and medical equipment. Those payments should have come out of Medicare's Part A hospital fund and have been repaid this year to the fund supported by premiums, known as Part B."



Comments (8)

Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ


I must confess...I'm knowledgable in real estate and title matters, but this stuff escapes me...I too turn 65 this month and am bewildered by all the medicare related stuff I get in the mail...I can't tell the spam from the real thing!!! Very confusing!!! Thanks,   Fran

Sep 24, 2008 06:27 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Mary, thanks for the update on what is going on with the prescription programs. I didn't know the premiums didn't go up.

Sep 24, 2008 06:37 AM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Mary, what a blessin for you.  That is wonderful and it is great that you are sharing with those in Nevada so they know about it also.

Sep 24, 2008 11:40 AM
LS Rogers Realty
LS Rogers Realty - Richardson, TX

Great information. My mom is disabled and my dad is ill. I need all the help I can get.

Sep 24, 2008 02:36 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon

it is amazing how a hidden secret like this can save you so much money - good information to share

Sep 24, 2008 04:24 PM
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes

Heck I am just now enjoying the senior discounts when I eat out!

Sep 24, 2008 04:55 PM
Denise Williams
Benchmark Realty - Brentwood, TN

Well, all the boomers will need all the help we can get as the shortage of gas, poor economy and then comes No Social Security.

Sep 25, 2008 01:16 PM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Mary, this is certainly one of the benefits of elder status.  My health insurance is through the roof with Kaiser.  I have to learn more about this because I'm getting close!

Sep 27, 2008 05:11 AM