When & How to sign up for Medicare!
- ExploringMedicare
- Dec 16, 2021
- 3 min read
Your Medicare journey begins here and this post will cover the basics of getting started with Medicare benefits.
Who Can Enroll :
The most common scenario to be eligible for Medicare Parts A (hospital insurance) and Part B (medical insurance) is you must be age 65 or older, a US citizen or permanent resident, and also eligible to receive benefits from Social Security or the Railroad Retirement Board.
There are a few exceptions to qualify for Medicare under the age of 65. These include but are not limited to:
You have received Social Security benefits for a disability for 24 months.*
You receive Social Security benefits from Lou Gehrig's disease (ALS) or have permanent kidney failure (end-stage renal disease) *
*These situations may allow you to be eligible for Medicare, but they are not a guarantee. Please contact Social Security directly to find out if your specific situation qualifies.
When To Enroll :
According to Medicare.gov : "Your first chance to sign up (Initial Enrollment Period) is generally when you turn 65. This is called your Initial Enrollment Period. It lasts for 7 months, starting 3 months before you turn 65, and ending 3 months after the month you turn 65."
Your coverage will usually start the first day of the month you turn 65. For example, if your birthday is 6/18/57 then (assuming you applied for Medicare) your coverage would start on 6/1/22.
Please refer to this page on the Medicare website for details on alternative sign up dates:
How To Enroll
New retirees are usually familiar with the information previously discussed, but the question we hear most often is "How do I enroll ?! "
You have a few options listed below, but for a full updated explanation please visit: www.SSA.gov/medicare
Online at the Social Security website. That website is "the easiest and fastest way to sign up and get any financial help you may need. (You’ll need to create your secure my Social Security account to sign up for Medicare or apply for benefits.) " - According to the government information on Medicare.
Call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778.
Contact your local Social Security office.
What if I am still working past 65?
This situation will be addressed in a future article, but this link to the website on Medicare will provide a thorough answer:
Please use caution if considering to delay enrolling, as you may incur a Part B late enrollment penalty.
How To Get More Coverage
The bad news is that Medicare does not cover all medical costs, nor is it free. However, the good news is that the program helps reduce the cost of medical care and more importantly, offers opportunities to get more coverage:
Medigap Supplement plans offer flexibility to see almost all doctors that accept Medicare. By paying a monthly premium for one of these plans, they help fill in the "gaps" that Medicare does not cover.
Medicare Advantage plans often include prescription drug coverage and other perks like dental and vision benefits. However, your coverage will be thru a private insurance company and you may be required to only use their provider network.
Prescription Drug plans (PDP) are often added separately as Original Medicare and Medigap Supplements do not include drug coverage. These plans have a monthly premium and different copays based on specific company formularies (drug tiers).
Visit our other article to learn some of the important plan differences (click here) :
Our Hope
As you can see, enrolling in Medicare can be simple, but there are many unique situations and different paths to navigate. The most complicated part is usually trying to determine what type of additional coverage is the best for your particular situation. That's where our team here at Exploring Medicare is happy to help.
We hope that by learning about Medicare and your options, we can build your trust to serve you in regards to your health insurance needs. We want to partner with you and your loved ones throughout your retirement journey.
Thank you for the opportunity to help you take these important steps for your health insurance. Please click below to schedule a free consultation:
"My father and I had the opportunity to work with Nick to help choose the right insurance plan for my father's needs. Nick was very knowledgeable and helped steer my dad in the right direction. He was kind, patient, and made himself available when we had additional questions." Naheemah - Miami, FL
References:
U.S. Centers for Medicare and Medicaid Services, (2021).
U.S. Social Security Administration, (2021). Medicare.
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