Medicare can be a bit complicated. There are several different Medicare coverage options, each of which comes with its own pros and cons. Once you do pick your plan, it can be a challenge to fully understand what’s covered by it and what’s not.
If you’re looking for Medicare answers, you’ve come to the right place. Keep reading to find the answers to the top 10 most frequently asked questions about Medicare.
Signing up for Medicare is very easy. You’ll be enrolled into original Medicare automatically if you are already receiving Social Security benefits. Medicare will mail everything that you need to know about your new coverage to you about 3 months before it begins.
Most people sign up for Medicare around the time that they turn 65. That’s true whether Medicare signs you up automatically or you decide to do it yourself. Your Medicare coverage will begin on the 1st day of the month that you turn 65.
Most people don’t have to pay a dime for Medicare Part A premiums. That’s because you paid into the system throughout your whole working life. The Medicare Part B premium is currently about $150 per month but will rise slightly every year.
Medicare Advantage plans are offered by private insurance companies. They’re meant to expand upon the coverage that’s offered through Original Medicare.
Medigap plans are similar to Medicare Advantage plans, but they work with Medicare instead of replacing it entirely like Medicare Advantage plans do. But each will give you access to more healthcare coverage in exchange for higher monthly premiums.
If you work past 65, you might be able to delay enrolling in Medicare. It could also be the case that you need to enroll in Medicare during your normal enrollment period to avoid late penalties. The answer depends on your employer and the coverage they offer.
The easiest way to do this is by signing up for a Medicare Advantage (Part C) plan.
No, you don’t have to sign up for Medicare. But if you enroll late you will have to pay a penalty fee.
Yes, you absolutely can. There are many different financial assistance programs for people who need it. Some of the most popular options include Medicare Savings Programs and Medicaid.
Researching your coverage options online is the best way to figure this out. But that can be complex. If you’d like some help with the process, consider contacting a licensed agent who is a Medicare expert and can help you figure out which coverage option is right for you.
Not only is there a lot of information available that may overwhelm you, but there are so many parts to Medicare available for you to choose from. Choosing the right Medicare plan for your needs takes time, effort, and energy.
If you have any questions about Medicare, please contact a licensed agent who specializes in Medicare. They’ll be able to break down key concepts of Medicare so you’ll feel confident in the coverage decision you ultimately make once you or a loved one becomes eligible to enroll, as well as for those of us already enrolled in Medicare.
Are you on Medicare? Where do you look for current information on available Medicare options? Have you had help in choosing your insurance plan? Please share any question you might have about Medicare.