When it’s time to start signing up for Medicare, you’ll probably find that it can be a very confusing process if you don’t fully understand all the information given to you.
Don’t worry! By asking all the right questions, you can be confident that you will receive the education you need to make informed decisions on your Medicare plan.
When should I enroll?
It would be best if you started enrolling during your Initial Enrollment Period (IEP). Your IEP begins three months before your 65th birthday and ends three months after your 65th birthday. During this period, you will have the opportunity to enroll in Medicare Part A, Part B, Part C, or Part D. However, if you miss this enrollment period, you are subjected to late-enrollment penalties that will be added on to your monthly premium payments and could be permanent.
If you receive Social Security or Railroad Retirement Board benefits, then you will be able to automatically enroll in Part A and Part B. If you are not automatically enrolled, then you will need to enroll on your own.
What will I pay for Medicare?
If you enroll in both Medicare Part A and Part B (Original Medicare), you will have premiums, deductibles, and coinsurance to pay out-of-pocket. If you receive Social Security or Railroad Retirement Board benefits, you can get premium-free Part A, but you cannot get premium-free Part B.
For Medicare Part C and Part D, you will have to pay monthly premiums, but each premium varies by plan.
What coverage will I have?
When you enroll in Original Medicare, you won’t receive coverage for dental, vision, or hearing services. However, you will receive coverage for:
- Your inpatient and outpatient hospital care
- Skilled nursing facility care
- Home health care/services
- Hospice care
- Provider services
- Durable medical equipment
- Ambulance services
- Preventative services
- X-rays and lab tests
- Chiropractic care
- Certain prescription drugs (immunosuppressants, select anti-cancer, other typical drugs administered by a physician)
If you enroll in Medicare Part C (Medicare Advantage Plan), you will receive the same coverage and benefits offered by Original Medicare, but you’ll also receive coverage for:
- Caregiver Counseling and Training
- Prescription drugs
With Medicare Part D, you’ll only receive coverage for prescription drugs. You can get Part D as a stand-alone plan or as a set of benefits included with a Medicare Advantage Plan.
Do I need to switch doctors?
With Original Medicare, as long as your doctor accepts Medicare, you can keep them as your primary doctor, but make sure you confirm with your doctor beforehand! If they do not accept Medicare, they can give you references to who will.
With Medicare Advantage Plans, you may be required to use doctors that are in the plan’s network. Make sure to confirm with your plan if your primary doctor is listed in the plan’s network. If not, you will need to switch doctors to receive proper coverage.
Have more questions?
Bobby Brock Insurance offers Medicare help for free! Our experienced brokers are focused on educating you first so you can make an informed decision on your healthcare. Give us a call today at 877-877-5505.