Financial Advisor Medicare Planning Guide
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Create a Medicare planning guide for client approaching age 65.

Client details (placeholders):
- Current age: [60-64]
- Months until 65: [number]
- Current health coverage: [employer/COBRA/marketplace/spouse]
- Health status: [good/chronic conditions]
- Preferred doctors: [in network considerations]
- Budget: $[monthly premium budget]
- State: [for supplement plan availability]

MEDICARE PLANNING GUIDE

1. MEDICARE ENROLLMENT TIMELINE

   INITIAL ENROLLMENT PERIOD
   - Begins: 3 months before 65th birthday month
   - Ends: 3 months after 65th birthday month
   - Total window: 7 months
   - Action: [enroll or document exception]

   LATE ENROLLMENT PENALTY
   - Part B: 10% per year delayed without qualifying coverage
   - Part D: 1% per month delayed without coverage
   - Avoid: enroll on time or have creditable coverage

2. MEDICARE PARTS EXPLAINED

   PART A — HOSPITAL
   - Cost: [usually free if 40+ quarters SS]
   - Covers: inpatient hospital/SNF/hospice
   - Gaps: deductible/coinsurance

   PART B — MEDICAL
   - Monthly premium: [verify current standard premium]
   - IRMAA surcharge: [if income over threshold]
   - Covers: outpatient/doctor visits/preventive
   - Gap: 20% after deductible

   PART C — MEDICARE ADVANTAGE
   - Bundled A+B+usually D
   - Network restrictions
   - Often lower premium
   - Prior authorization requirements

   PART D — PRESCRIPTION DRUG
   - Separate plan if Original Medicare
   - Included in most Advantage plans
   - Compare based on your specific drugs

3. SUPPLEMENT (MEDIGAP) ANALYSIS
   Plan G: [most comprehensive — covers Part B excess]
   Plan N: [lower premium — copays for some visits]
   Cost: $[monthly range for age 65]
   Benefit: [predictable costs/any provider]

4. RECOMMENDATION FOR THIS CLIENT
   - Based on: [health status/preferred doctors/budget]
   - Recommended path: [Original + Supplement + D / Advantage]
   - Enrollment actions: [specific steps and dates]

Note: Medicare rules change annually. Verify all details at medicare.gov. Consider working with licensed Medicare specialist.

Source: https://promptzyo.com/prompt/financial-advisor-medicare-planning-guide