Medicare Tips for Individuals Turning 65
Medicare Enrollment
You must actively sign up for Medicare unless you are already receiving Social Security.
You may apply online at https://www.ssa.gov/benefits/medicare/. You can also call 1-800-633-4227 or visit your local Social Security office.
Initial Enrollment Period
You have a seven month window to enroll in Medicare. This includes the 3 months before the month you turn 65, your birth month, and the 3 months after the month you turn 65.
The sooner you enroll and get your Medicare number, the better! Enrolling early will give you time to get supplemental coverage in place before you turn 65. Medicare coverage begins the first day of the month in which you turn 65.
Medicare Part A
Medicare Part A is free to most people. Medicare Part A generally covers:
*Inpatient hospital care
*Skilled nursing facility care
*Nursing home care (skilled care, but not custodial or long-term care)
*Home Health Care
*Hospice Care
Medicare Part B
Medicare Part B currently costs $144.60 per month. Medicare Part B generally covers:
*Outpatient physician services
*Other outpatient services such as physical,
occupational and speech therapies
*Ambulance services
*Durable medical equipment
*Outpatient mental health services
What Medicare Actually Pays
Generally, Medicare Part A pays 80% after a deductible per benefit period. Medicare Part B pays 80% after your annual deductible.
Without supplemental coverage, you will be responsible for the following medical expenses.
Medicare Supplement Insurance
Medicare supplement plans, often call Medigap plans, are designed to help you cover the costs that Medicare does not. Medicare supplement plans are standardized. Coverage is the same no matter what company you purchase them from. The only differences will be in price, quality of service, and the agent you choose to work with.
Where Can I Use My Medicare Coverage?
There are no network restrictions! You can use Medicare with any provider that accepts Medicare. During your initial enrollment period (turning 65), coverage is guaranteed. No medical questions are asked.
Your coverage cannot be canceled as long as you continue to pay your premium.
How Can an Insurance Agent Help Me?
The services of a qualified agent are invaluable in helping you understand your Medicare options. An experienced agent can help you choose the plan that best fits your needs and budget.
Bonnie Brackett, RHU, REBC has been working with Medicare clients for over 20 years. She will help you to understand Medicare and how it works with Medicare Supplement plans to take the worry out of your health coverage!
