Southern Maine Retirement Services

Preventing & Protecting Yourself From Fraud

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Between robo-calls, spam emails, and junk mail it can seem like there is a never-ending stream of attempts to get your attention and your information. Sometimes scammers may use Medicare as a ploy to hook you in. We want to help you be on guard, and take the steps to protect yourself and your information.

Fraud Protection graphic
Guarding Information

It’s as important to keep your Medicare information private as it is to keep other personal numbers and data private. Use the same care with your Medicare card as you use with your credit card. Keep it in a safe place, and never share the number with anyone except your doctor’s office or a confirmed insurer or Medicare representative.

You will never receive an unsolicited phone call or email asking for your Medicare information unless it’s from a plan you are already a member of. Among the ploys that scammers may use to try to get your information are offering free medical services in exchange for the information, pitching plans that aren’t actually part of Medicare, or threatening a loss of coverage if you don’t comply.

If you do get an unexpected or unsolicited call, never give out your information – always take the time to contact Medicare, your doctor, or even us here at Southern Maine Retirement Services to help figure out if a request is legitimate – and if it’s not, how to report the fraud attempt. Taking the time to do this is much easier than dealing with the aftermath of identity theft that can occur if your Medicare information falls into the wrong hands.

Reviewing Bills

While we’re all often inundated with paperwork, bills, and other items needing our attention, it is important to take the time to review your medical bills and Medicare coverage information. Keep an eye out for these kinds of errors on your bills, receipts or service summaries:

  • Repeat charges for an appointment or service you only had once
  • Charges for services or supplies you never had
  • Dates that don’t match up with what you have on your calendar

If you notice these kinds of aberrations on documents you receive from your doctor or Medicare, contact your provider to let them know and see if there’s an explanation for the discrepancy. If there is not an explanation and you suspect fraud or that your Medicare information is being used by someone else for services, contact Medicare to report it at: 1-800-MEDICARE (1-800-633-4227).

For more information about identifying and preventing Medicare fraud, visit here.

Uncertain? Call Us.

We’re always here to help you understand Medicare and bring you more peace of mind in retirement. To chat with our knowledgeable team, please give us a call at (207) 647-2900 or 1-(866) 866-4340.

Common Medicare Terms Defined

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When you start reading about Medicare, it can be like reading a different language. The vocabulary used throughout forms and informational packets takes some getting used to. In this blog, we go over some of the basic phrases to get you started.

Medicare Enrollment Form document with glasses and pen

The Parts & Plans

An understanding of the basic options is important as you start perusing Medicare information. These are some of the terms you’ll encounter as you look at the plans available through Medicare.

Original Medicare – Refers to Medicare Parts A & B

Medicare Advantage – Refers to Medicare Part C

Medigap – Insurance coverage provided by private companies that can be used in conjunction with original Medicare

Part A – Covers inpatient hospital care, inpatient skilled care and skilled care in your home

Part B – Covers doctors visits and outpatient care

Part C – Often called Medicare Advantage, Part C refers to being completely on a private insurance plan rather than being insured by Original Medicare as provided by the government. Part C/Medicare Advantage are still strictly regulated.

Part D – Covers prescription medications

Enrollment & Costs

As you dive into the different plans, you’ll see terms that indicate costs and who is responsible for them. Many are similar to traditional insurance terms. You’ll also encounter phrases about enrollment rules and coverage periods. Here are some of those you’re likely to see frequently:

Open Enrollment – Refers to October 15 – December 7, the annual time period when you can enroll or adjust plans and have coverage start on January 1st

Benefit Period – The time period beginning from the day of your admittance to a hospital or inpatient facility to 60 days after you last received inpatient care, during which claims can be filed for that care

Coinsurance – The amount you’re responsible for paying; a percentage of the cost of care

Copayment – The amount you’re responsible for paying; a fixed amount depending on the service

Coverage gap (donut hole) – After you reach the annual limit on full coverage for prescription medications under Part D, you will be in the “coverage gap” or “donut hole” and be required to pay for a percentage of the cost of your prescription medications.

Premium – The monthly cost for a Medicare plan; many people qualify for premium-free Medicare

Have Questions About Medicare?

We’re always here to help you understand Medicare terminology, enrollment periods, benefits and the ins and outs of every plan. To chat with our knowledgeable team, please give us a call at (207) 647-2900 or 1-(866) 866-4340.

How Medicare Affects Retirement

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Your Retirement Age Matters for Medicare. We’ll Help You Understand How.

The age at which you choose to retire depends on many factors, both personal and professional. Whether it is finances, health or your career goals and accomplishments that impact your retirement decisions, every person is going to reach the decision differently. 

While everyone may not retire at exactly the same age, Medicare recognizes 65 as the ‘retirement age’ as that is when you become eligible for Medicare enrollment.  Whether you retire before or after 65 does, in fact, impact Medicare enrollment. 

Retiring Before 65: Carefully Consider Coverage Options

If you opt to retire before 65, Medicare will generally not be available to you until the three months before you do turn 65. Certain exceptions exist, including disabilities that have qualified you for SSDI payments in the past. Before retiring prior to the Medicare eligibility age, it is important to consider your existing healthcare coverage and how retirement may affect it.

Retiring at 65: Start Researching Your Options Early

You should receive your Medicare enrollment information as early as several months before your 65th birthday. If you are planning to retire at 65 you should become familiar with the various plans available to you well before you turn 65. There are many different options, and they may or may not complement any coverage you will retain from your employer after retirement in a way that fits your needs. Knowing what your healthcare coverage options are from both Medicare and your employer may impact your decision to retire at 65 or to wait. 

Retiring After 65: A Common Occurrence

Medicare starts at 65, but Social Security doesn’t fully kick in until you turn 66. This gap often means that people will choose to work until they are at least 66. As long as you have credible coverage through your employer you will not face penalties from Medicare if you decline to enroll. However, be aware of enrollment deadlines and any penalties that exist if you are waiting to enroll. 

Employer Coverage After Retirement

In general, if you retain employer coverage after retirement it will be the second payor, with Medicare as the first. However, as outlined on Medicare.gov, there are four important things to research about employer coverage after retirement. First, is it available? Second, what is the cost and coverage? Third, what happens to your retirement coverage if you are eligible for Medicare but not enrolled? And, fourth, how does your retirement plan work with Medicare? These are all important questions and may have complex answers. While your employer’s insurance policy booklet may provide some information, it can quickly get overwhelming. 

There is a lot to consider and to research as you move toward retirement. We at Southern Maine Retirement Services are here to help you make the best decisions about Medicare coverage for you and your family. Contact us today to discuss your retirement plans and Medicare needs.

Open Enrollment for Medicare: What You Need to Know

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When to Apply for Your 2021 Medicare Plans

We all know that Medicare is a tricky subject, especially if you’re encountering it for the first time. Our staff at Southern Maine Retirement Services has made it our mission to ease people through this confusing process and act as a helping hand to those who need it. Sometimes it’s hard to even know when you’re supposed to apply for a plan! Well, we’ve got you covered.

Open Enrollment Period

The official open enrollment period for Maine is October 15th through December 7th. This is always our busiest time of year here at Southern Maine Retirement Services, and understandably so. Many people choose to apply for Medicare during this period of time because it’s arguably the time that people are told about the most.

But It Doesn’t End There…

You are eligible to apply for Medicare at other times as well. The other eligibility windows are the three months before you turn 65 years old, and then the three months after. It’s important to be aware of these time frames so that you will be adequately prepared to apply when the time comes. Southern Maine Retirement Services is available year round to assist you with understanding your coverage and all the details of possible insurance plans.

Contact Southern Maine Retirement Services today to learn more about what Medicare can do to suit your unique needs. And remember to mark your calendars for open enrollment, along with the three months before and after you turn 65!

Joining Medicare After 65: Tips For Preparing

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A Few Tips For Preparing From Our Team

Perhaps you’ve already planned to work past age 65, knowing that full Social Security benefits don’t kick in unless you work until age 66. But have you thought about how that will affect your Medicare enrollment?

While you might be working until age 66 – or beyond – you are still eligible to enroll in Medicare. In fact, many people do choose to enroll in Medicare Part A for hospital coverage. Others choose to stay entirely on their employer’s plan.

Factors to Think About

If you’re looking ahead, there are several factors you need to consider as you decide whether to enroll in Medicare at 65, or wait. Among the things to think about are:

  • Is Medicare more cost-effective than staying on employer-sponsored health coverage?
  • If you’re on an individual health plan, could you save money by enrolling in original Medicare and a Medicare health plan?
  • Is my employer coverage even credible?
  • How am I timing my enrollment?

For the first two items, we would be happy to walk you through the details and compare plans for you. This is not a road anyone needs to go down alone – it can get overwhelming very quickly, and we are here to help you.

For the third item, the consideration of timing, it is important to understand how the rules change for open enrollment after 65. If you work past 65, you will only have 60 days from your Medicare Part B effective date to apply for a Part C Medicare Advantage Plan or Part D prescription drug plan. You may also incur a penalty if you are eligible for Medicare Part D, but not enrolled in it.

It’s important to be prepared in advance of age 65 so that you know what your options are when it comes time to enroll in Medicare. Fully understanding your options and their impact takes some time, but it is well worth it.

Let Us Help You

When it comes to planning for retirement, there is certainly a lot to think about. At Southern Maine Retirement Services, we’re here to make at least one aspect of your planning easier. If you have questions about enrolling in Medicare if you’re retiring after 65 – or questions about any other aspect of Medicare – please give us a call (207) 647-2900 at and we can talk about your unique situation and the options available to you.