WANT TO KNOW ABOUT MEDICARE
We know you've received more advertisements, phone calls, and mailers than you'd ever imagine! What type of plan do you need? Are your doctors covered? Is the plan going to last as long as you need?
You are qualified for full Medicare benefits at 65 if you meet specified eligibility requirements. You may qualify before 65, but only if you have certain medical conditions or disabilities. Your initial enrollment is open from three months before the month of your 65th birthday to three months after it, but there are other windows for Medicare enrollment as well.
While Medicare is available to most Americans over 65, you are only allowed to enroll during certain periods. These periods are also when you can alter or change your plans. There are penalties if you want Medicare but fail to get it in an enrollment window.
Original Medicare — the type provided by the federal government – consists of Parts A and B. Part A is hospital insurance and will cover your hospital stays, while Part B covers doctor visits, treatments, and services. Separate from Original Medicare is Medicare Advantage or "Part C". Part D is prescription drug coverage.
Medicare Advantage is an alternative to Original Medicare. Also known as Part C, these plans are provided by private insurance companies that contract with the government. Plans must provide the same base level of care as Medicare Part A and Part B but may also bundle other benefits into a single plan.
If you’re enrolled in Original Medicare, enrolling in Medicare supplemental insurance — also known as Medigap — may help cover additional costs such as copayments and deductibles. During your six-month Medicare open enrollment period, you can purchase a Medigap policy from any insurer that sells one in your state, regardless of your health.
Medicare Part D covers prescription drugs. This coverage is provided by private insurers that Medicare later reimburses. All Part D drug plans must provide a minimum coverage level set by Medicare. However, the type of drugs covered depends on the formulary. A formulary is a list of prescription drugs covered by the Part D plan. Formularies vary from plan to plan.
