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Medicare Info for Seniors

Medicare is a program that requires a bit of research before youwhat is medicare begin the process.  You will want to assess options, create a list of your doctors and decide if its possible to continue to see them.  You will want to gather information about prescriptions you take and assess the drug plan that will suit your needs.  

Consider your lifestyle. Do you travel? Do you stay home most of the time? Do you visit other countries often? Do you own a second home out of state? All of this information will become important in choosing the right Medicare package for you. Medicare is not free. Therefore, your finances are important in the decision making process for your future with Medicare.   

You may want to consider Medicare supplement insurance, such plans complement Medicare policies. Get started with Medicare
The Medicare process is a major milestone. Important info in your Medicare journey.

What is Medicare?

Medicare has been around for over 50 years. Medicare is a program that seniors 65 and people with disabilities obtain for health care coverage. There are currently over 43 million beneficiaries of the Medicare program.  

When you turn 65 you become eligible for Medicare coverage - you will need to call or visit a Medicare office to comb through all your options. There are many levels you can sign up for and can find the option that suits your needs and your budget.

What is the difference between Medicare and Medicaid?

Medicare - A federal program providing health coverage if you are 65 or under 65 with a disability no matter your income. Medicare is a program that you pay for.
  
Medicaid - A state and federal program that provides health coverage for individuals with a very low income level. 

What are the different Medicare Parts?

Part A - Inpatient Hospital Coverage
Part B - Outpatient Medical Coverage
Part C - Medicare Advantage gives additional coverage
Part D - Prescription Drug Coverage

What is the enrollment period for Medicare?

It begins 3 months before the month you turn 65 and ends 3 months after the month you turn 65. After this period you may pay penalties. 

What is Medicare Supplement? 

Medicare Supplement Insurance helps pay some of the health care costs that original medicare does not cover. You can coordinate these benefits so that you more benefits where Medicare coverage is lacking. 

What is a Medigap plan? what is medigap

Medigap plans are supplement insurance coverage. They are sold by private insurance companies.  Medigap is available to those on Medicare Part A & B.  These are individual policies. There are no joint Medigap policies.  

What does Medicare NOT cover?

While this isn't a full list, Medicare doesn't cover long-term care, dental care, eye exams or glasses, dentures, acupuncture, hearing aids, and routine foot care.

What are some questions I should ask about Medicare?

  • What are my coverage options?
  • What are the Medicare basics?
  • Do I need to enroll in Part D?
  • Am I eligible for any programs that reduce the Medicare cost?
  • Are there resources to help me navigate the Medicare process?

5 important facts:

  1. Some people get Medicare automatically, and some have to sign up. You may have to sign up if you’re 65 (or almost 65) and not getting Social Security.
  2. There are certain times of the year when you can sign up or change how you get your coverage.
  3. If you sign up for Medicare Part B when you’re first eligible, you can avoid a penalty.
  4. You can choose how you get your Medicare coverage.
  5. You may be able to get help with your Medicare costs.

In closing

If you are content with what Medicare is covering for your health needs you don't need secondary insurance.  However, if you want assistance with co-pays, deductibles and gaps where Medicare fails - Supplement insurance is a good consideration. Speaking with a supplement insurance professional is a good idea.