Medicare

Need to establish your Medicare policy? Confused or bewildered at all the options and requirements? We can help.

If you’re reading this, it’s likely you’re one of the millions of Americans who will be eligible for Medicare in the next few years. Enrollment begins three months before your 65th birthday and continues for seven months afterward. But even if you’re already on Medicare, there are important changes ahead that could affect you.

Understanding Medicare Insurance

First, the basics. Medicare is a national health insurance program that provides coverage to Americans age 65 and older, as well as those with certain disabilities. It also covers people with end-stage renal disease (ESRD) – that is, permanent kidney failure requiring dialysis or a transplant for survival.

There are two main parts to Medicare: hospital insurance (Part A) and medical insurance (Part B). Part A helps pay for inpatient care in hospitals, skilled nursing facilities, hospices and home health care. Part B helps pay for doctors’ services, outpatient care, preventive services and some home health care.

You’re automatically enrolled in Part A when you turn 65, but you must sign up for Part B. You can delay enrollment in Part B without penalty if you’re still working and have coverage from your employer or union. But be aware that if you don’t sign up for Part B when you’re first eligible, your monthly premium will go up 10 percent for each year you wait.

There are also two other parts to Medicare – Part C and Part D. Part C is a private health plan option called Medicare Advantage. It offers all the benefits of Parts A and B, as well as additional services like vision, dental and hearing coverage. Part D is prescription drug coverage. You can choose a plan from any of the many private companies that offer it.

You’re not required to have a Part C or Part D plan, but if you want them, you must sign up for both during the same enrollment period.

Let Us Help

If all this sounds confusing, that’s because it is! Medicare is difficult to navigate, but you don’t have to do it alone. Call us or click below to schedule a free consultation and let our team help you establish your policy correctly, that way you can enjoy your benefits for years to come.