How to use Retirement: Medicare Tool

The Medicare tab enables clients who are approaching Medicare age of 65 to understand and make key decisions about their Medicare choices.

For a brief overview of the Medicare tool watch this short video.

Access the Medicare screen by selecting the intended client and navigating to Retirement > Medicare.

There are four sub-tabs on the Medicare screen: "Medicare", "Coverage", "Enrollment", and "Tips".

Medicare (sub-tab)

To begin understanding what Medicare path is best for the client, three key questions are presented which surround their location (or travel) plans, health considerations, and financial risk tolerance.

Based on the answers to these questions, either a green check mark or a red "x" will appear to the right side of the question box. The green or red indicate whether the proposed Medicare option is a good fit for the client.

Select different Medicare options in Action Items. The drop-down box under the Proposed Medicare Choices section lists possible options. If the option selected is a good fit for any question's response, a green checkmark will appear to the right of the response. If the option selected is not a good fit, there will be a red "x".

For example

If under Location consideration your client's response is that they are a traveler/snowbird and need to see doctors in different locations, you will see the green checkmark when selecting "Original Medicare, A, B, and D" or "Original Medicare A, B, and D plus Medigap", but a red 'X' when selecting "Medicare Advantage with Prescription Drugs", since with Medicare Advantage plans clients are more closely tied to their local in-network doctor.

Coverage (sub-tab)

Once a proposed Medicare option has been selected in the Proposed Medicare Choices section, the Coverage tab will show a summary of what will be covered by the proposed option. A green checkmark indicates the item is covered; a Red 'X' indicates the item is not covered. Toggle the proposed Medicare choices by opening Action Items.

Enrollment (sub-tab)

The Enrollment tab provides instruction for the clients as to actions they should take to get enrolled in the Medicare option they have chosen. Each client should respond to the two questions about Social Security and group plan coverage. Once the responses have been selected, the Your Enrollment Period section of the Action Items will reflect the actions each client should take to get properly enrolled in their selected Medicare plan.

Tips (sub-tab)

The Tips tab reflects some additional details about Medicare coverage and enrollment that may be helpful to ensure that your client pays proper attention to making their Medicare choices.