Whether you are a senior citizen or have a disability that qualifies you for Medicare, it will make your life much easier if you know how to get the most out of this program. While this task may seem daunting at first, with the right advice, healthcare protection at an affordable cost is just within your grasp.
At the Healthy Horizons Guide, you’ll find information that can help you:
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Medicare is available to individuals who are 65 years of age or older, as well as to younger individuals with disabilities and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). Eligibility typically depends on work history and payroll tax contributions, with at least 10 years (40 quarters) required for premium-free Part A. Certain individuals under 65 may qualify due to disability or other specific conditions.
ou can enroll in Original Medicare during the Initial Enrollment Period, which starts three months before you turn 65 and ends three months after the month you turn 65. If you’re already receiving Social Security benefits, you may be automatically enrolled. Otherwise, you can enroll through the Social Security website, visiting a local office, or by calling Social Security. If you miss this period, you can enroll during the General Enrollment Period between January 1 and March 31 each year, but late enrollment could result in a penalty.
Your licensed insurance agent can also help you confirm if you are enrolled in Original Medicare.
Medicare Part A (hospital insurance) is typically premium-free if you or your spouse paid Medicare taxes for a certain amount of time while working. For Medicare Part B (medical insurance), most people pay a standard monthly premium. Additional parts, like Medicare Part D (prescription drug coverage), also have premiums. Other out-of-pocket costs include deductibles, copayments, and coinsurance. So, while some parts of Medicare may be premium-free, Medicare as a whole is not entirely free.
A Medicare Advantage Plan, also known as Medicare Part C, is an alternative to Original Medicare (Parts A and B) offered by private insurance companies. These plans provide all the benefits of Parts A and B and often include additional benefits like prescription drug coverage (Part D), dental, vision, and wellness programs.
