New to Medicare? We’re Here to Help!

Navigating Medicare can be overwhelming, especially if it's your first time enrolling. We're here to guide you through the process and make sure you understand all the options available to you. Below is a simple breakdown of everything you need to know when you're new to Medicare.

Medicare is a federal health insurance program designed for people aged 65 or older, and for some younger people with disabilities or specific medical conditions. It helps cover hospital care, medical services, and prescription drugs.

You are eligible for Medicare when you turn 65, or if you are under 65 and have a qualifying disability. The best time to enroll is during your Initial Enrollment Period (IEP), which starts 3 months before your 65th birthday, includes the month you turn 65, and ends 3 months after your birthday month.

Medicare is divided into four parts:

1. Part A (Hospital Insurance)
   Helps cover inpatient hospital stays, skilled nursing facility care, hospice, and some home health care.
    
2. Part B (Medical Insurance)
   Covers outpatient care, doctor visits, preventive services, and other medical services that aren’t covered by Part A.
    
3. Part C (Medicare Advantage)
   A private insurance plan that includes both Part A and Part B, and often includes extra benefits like vision, dental, and hearing coverage.
    
4. Part D (Prescription Drug Coverage)
   Helps cover the cost of prescription medications. You can sign up for a standalone Part D plan or get it through a Medicare Advantage plan.
    

Medicare Supplement Insurance, also known as Medigap, is private insurance that helps cover the costs that Medicare doesn’t, like copayments, coinsurance, and deductibles. Medigap plans work alongside Original Medicare (Parts A and B), but not with Medicare Advantage (Part C).

Key points about Medigap:

• You must have Part A and Part B to buy a Medigap plan.
• Medigap plans help reduce your out-of-pocket costs, giving you more predictable healthcare expenses.
• There are 10 standardized Medigap plans, labeled Plan A through Plan N. Each plan offers different levels of coverage.
• Medigap plans do not cover prescription drugs (that's covered under Part D).

1. Automatic Enrollment:
   If you're already receiving Social Security benefits before turning 65, you will be automatically enrolled in Medicare Parts A and B. You’ll receive your Medicare card in the mail.
    
2. Manual Enrollment:
   If you're not receiving Social Security benefits when you turn 65, you'll need to manually sign up for Medicare through the Social Security Administration. You can enroll online, by phone, or at your local Social Security office.
    

There are many Medicare options to consider depending on your health care needs. Here are a few things to think about when selecting a plan:

• Do you need prescription drug coverage?
• Would you benefit from additional coverage (e.g., vision, dental, hearing)?
• Do you prefer a specific doctor or healthcare provider?
• What are your budget preferences?

1. Can I delay enrolling in Medicare?
Yes, if you're still working and have health insurance through your employer, you can delay enrollment without penalties. However, you must enroll in Medicare when you retire or lose your coverage to avoid late enrollment penalties.

2. What happens if I miss my Initial Enrollment Period?
If you miss your IEP, you may have to wait for the General Enrollment Period (January 1 – March 31) and may face late enrollment penalties.

3. What if I need help with the cost?
There are programs like Medicaid and Extra Help that can assist with premiums and other costs if you meet certain eligibility requirements.

Navigating Medicare can be confusing, but you don’t have to do it alone! Contact us today to speak with one of our experts who can help you understand your options and choose the best plan for you.

For personalized assistance or to ask any questions, feel free to reach out to us: