Medicare 101: How to Prepare for Medicare

Medicare can be a tremendous help for those needing additional assistance in paying exorbitant healthcare costs, from hospital stays to outpatient care, to prescription drugs. There are aspects of Medicare you must know of before deciding if it is right for you.

Factors to account for:

• Age requirements and exceptions
• The different parts of Medicare and the corresponding services they cover
• Enrollment process
• How Medicare plans may change

Age Requirements and Exceptions

You have to be at least 65 years of age before you can qualify for Medicare. There is an enrollment period, and once you enroll, you can receive the benefits associated with the plan you chose.

There are some exceptions to this, such as:

• You are getting benefits from the Railroad Retirement Board or Social Security. In this case, you automatically get Medicare Parts A and B.
• You have ALS.

Different Parts of Medicare and Their Corresponding Services

There are four different Medicare plans, which offer different types of coverage. Here are the various Medicare Plans:

• Plan A – hospital costs. It also helps with services provided during the inpatient care.
• Plan B – outpatient care. This includes preventive care (e.g., cancer screenings) and medical equipment such as wheelchairs and blood glucose monitors.
• Plan C – Also known as Medicare Advantage Plan. This consists of Medicare Parts A and B, as well as D. This offers all the benefits of Medicare Parts A and B, plus benefits not offered by the traditional Medicare Plans. Prescription drug coverage is also more extensive.
• Pard D – Medicare drug plan. Covers prescription costs for medications that are listed in the plan’s formulary

Enrollment Process

The enrollment period begins once the individual is in the initial enrollment period. This is a seven-month window that includes your birth month, and the three month periods before and after it. For example, if your 65th birthday is in June, you will have between March and September of that year to sign up.

To sign up, you can:

• Go to a local Social Security office
• Apply online at ssa.gov
• Call Social Security at 1-800-772-1213

You must provide your name, social security number, and the date you would like to enroll.

If you have any questions…

We are here to assist you with any inquiries you may have regarding Medicare and the various aspects of it. We won’t let any question go unanswered. We will address all concerns you have because at Sannes Insurance, we are dedicated to your needs.