Let’s start with the basics of Medicare:
Medicare is health insurance provided by the federal government, typically for people ages 65 or older. You may also qualify if you have a condition such as End-stage Renal Disease (ESRD), Lou Gehrig’s Disease (ALS), or are on Social Security Disability for two or more years. It is composed of different parts: A, B, C, D, and supplemental benefits. Part A and B are considered “Original Medicare.” Many of the parts work together to best cover your medical needs, though you can choose which parts and pieces you wish to use.
- Does it have a cost? Yes. Your Medicare costs will vary depending on factors such as where you live, which plan you choose, when you sign up, your income, and how long you have been paying into Medicare taxes through your employment.
- When do I sign up? Most people (excepting those with a qualifying condition) will sign up for Medicare anywhere from three months before your 65th birth month all the way through three months past your 65th birth month. If you sign up outside of this “Initial Enrollment Period,” you are liable to pay penalties, unless you can prove you had other creditable insurance coverage up until that point. Another benefit of signing up in this window (or shortly after employment benefits end) is you may enroll in a plan with “guaranteed issue” coverage. This means you cannot be denied for medical conditions you may have.
A person can sign up for Medicare parts A and B through the Social Security administration either by calling the federal phone number (1-800-772-1213, though the wait times are AWFULLY long), calling a local office and setting up a one-on-one appointment, or by going online to ssa.gov and setting up a personal account.From there, I recommend using an agent (like me!) to discuss the myriad of supplemental options that go along with Medicare. Because I am a broker, I am able to look at options from various companies and find the best fit for you. I want your plan to meet your needs. My services are paid for by the companies that appoint me, so to you they are totally FREE! Give me a call today with your questions: 208-412-1643.
