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Medicare
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Medicare What is Medicare?
Medicare is a federal health insurance program that provides coverage and benefits specifically designed for people aged 65 and older, those under 65 with certain disabilities, and individuals with End-Stage Renal Disease (ESRD). Medicare offers a variety of coverage options, and understanding how it works is key to making the most of your benefits.
Medicare What is Medicare?
How is Medicare Different From Other Health Insurance?
Medicare is different from the health insurance you might have had through an employer. It only covers one person at a time, meaning you and your spouse must enroll separately. Medicare also provides flexibility in how you receive your benefits, allowing you to choose between different combinations of hospital, medical, and prescription drug coverage.
Coverage Options Include
- Original Medicare (Part A & B)
- Prescription Drug Coverage (Part D)
- Medicare Supplement (Medigap)
- Medicare Advantage Plans (Part C)
Who is Eligible for Medicare?
You are eligible for Medicare if you:
– Are 65 years or older.
– Are under 65 and have certain disabilities.
– Have End-Stage Renal Disease (ESRD).
Not sure if you qualify for Medicare?
When and How Do I Apply for Medicare?
Your Initial Enrollment Period starts three months before your 65th birthday, includes your birthday month, and ends three months after. Enrolling during this period helps you avoid late enrollment penalties and ensures you have the coverage you need.
Approaching 65?
What If I Continue to Work Past Age 65?
If you’re still employed and receiving health insurance through your employer at age 65, you can:
– Continue with your Employer Plan: Delay Medicare enrollment.
– Enroll in Medicare Part A: Use it as secondary coverage.
– Delay Part B Enrollment: Avoid penalties by enrolling later when your employment or coverage ends.
– Continue with your Employer Plan: Delay Medicare enrollment.
– Enroll in Medicare Part A: Use it as secondary coverage.
– Delay Part B Enrollment: Avoid penalties by enrolling later when your employment or coverage ends.
Still working and unsure about Medicare?
Medicare Part A (Hospital Coverage)
Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
Medicare Part B (Medical Coverage)
Covers doctor visits, outpatient care, medical supplies, and preventive services.
Medicare Part C (Medicare Advantage)
Offered by private insurers, combines Parts A and B, often includes Part D, and may provide additional benefits.
Medicare Part D (Prescription Drug Coverage)
Helps cover the cost of prescription drugs through private insurers.
Medicare Supplement (Medigap)
Fills the coverage gaps in Original Medicare, helping pay for out-of-pocket costs like copayments and deductibles.
Still working and unsure about Medicare?
Coverage Options
Original Medicare (Part A & B)
Includes hospital and medical coverage. Does not include prescription drugs, dental, vision, or hearing benefits.
Original Medicare + Part D
Adds prescription drug coverage to Original Medicare.
Medicare Part C (Original Medicare + MedigapAdvantage)
Adds supplemental insurance to cover out-of-pocket costs not paid by Original Medicare.
Medicare Advantage (Part C)
All-in-one plans offered by private insurers that often include additional benefits like dental, vision, and hearing, along with prescription drug coverage.