Medicare SNP Plans - A great deal for a select group of retirees

If your gross monthly income as a single person is $1,061/month and your retirement nest egg (i.e., savings, investments, IRA) does not exceed $7,730; or as a married couple gross monthly income does not exceed $1,430 and a total retirement nest egg not more than $11,600, sit up and take notice. There is a Medicare insurance called a Medicare Special Needs Plan (SNPs) that you should know about. Most offer the perk of $0 premiums and $0 copays, which may be better than what you can get from traditional Medicare, or from a Medicare Advantage Plan.Medicare Interactive (medicareinteractive.org) explains it like this: There is a Medicare SNP, referred to as "C-SNP" for those living with specific chronic conditions. Those chronic conditions include, but are not limited to, cancer, dementia, diabetes, HIV/AIDS, stroke, end-stage renal failure and certain neurologic disorders.There is a Medicare SNP, referred to as an "I-SNP," which is for individuals who live in an institutional setting, such as a skilled nursing facility, an intermediate care facility, or an assisted living facility.There is also a Dual Eligible SNP plan, a "D-SNP," for individuals who are living at home, are eligible for both Medicare and Medicaid, yet do not have the serious chronic conditions.Medicare SNPs also offer extra services that are tailored for the special groups (chronically ill, institutionalized, those living at home). Each Medicare SNP insurance plan may vary, in terms of the perks it offers. Some extra services are: A care coordinator, transportation to health care appointments, adult day centers, a Silver Sneakers Membership, coverage for dental care every year, coverage to purchase eyeglasses.These additional perks are valuable to maintaining health and functional independence. However, this insurance is complex and nuanced. To help retirees understand it better, mark your calendar and attend the upcoming forum, Medicare Special Needs Plans: A Great Deal for a Select Group. The forum is 1-2:30 p.m. Wednesday, Sept. 4, at the Erie County Services Center, 3rd Floor, 2900 Columbus Ave., Perkins Twp. Patricia Stineman, Serving Our Seniors Insurance Education Specialist, and Dennis Printy, Insurance Agent, will be the speakers. I will facilitate the dialogue between panel and audience. This is not a sales pitch seminar. No audience information will be shared with the panel.An audience of 25 or more is required to justify the time for producing the forum. Register by 5 p.m. Sept. 2 to 419-624-1856 or Mail@ServingOurSeniors.org. Leave your name, phone number and the name of this even. You will be notified if the forum is cancelled.