New to Medicare? There are a few things you need to know to get started. From eligibility to enrollment and beyond, Schwenker Senior Insurance can help you.
Medicare is a federal health insurance program. Generally speaking, it provides a lot of different healthcare benefits at a relatively low cost compared to most other health insurance options for seniors.
When you initially sign up/are enrolled in Medicare, you will receive Medicare Part A and Part B. These are the most basic plans. Part A covers hospital care, and Part B covers almost any “medically necessary” service.
From there, you can choose to add other plans to your Original Medicare in order to help with costs. These options include Part C (Advantage), Part D, and supplements (Medigap). Rather than being provided directly through the government like Original Medicare, these options are regulated but instead offered through private companies at varying costs.
When new to the world of Medicare, it is incredibly important to know when you are eligible to enroll, and the best time to start the Medicare enrollment process. Some people qualify based on their disability—after 24 months of receiving Social Security disability benefits, you should be automatically enrolled. Or, if you have End-Stage Renal Disease or Lou Gehrig’s (ALS) disease, you will also likely be automatically enrolled.
Most people, however, qualify for Medicare when they turn age 65. If you worked for at least 10 years while paying Social Security taxes, you will not only be automatically enrolled in Original Medicare, but you should qualify for premium-free Medicare Part A as well.
Before you become eligible for Medicare and officially enrolled in Parts A and B, you should consider the other types of coverage you may want with it as well. Part C (Advantage), Part D, and supplements (Medigap) are all potential plans you can add onto Original Medicare to help with some of your costs as well as provide extra benefits. Your choice of the coverage you want and how much you want to pay for it will depend on your personal preferences.
If you do choose any of these options, you will have to shop around in your area for plans that:
Because these plans are offered privately, your available options and their prices will vary across the board. Having an insurance agent from Schwenker Senior Insurance would be very helpful in this case as we can help you compare these options.
If you’re just getting started with Medicare and are unsure exactly where to start, one of the best things you can do is talk with a reliable agent. By explaining what you’re looking for and your budget, agents will find the best coverage in your area that works best for you.
Schwenker Senior Insurance takes your insurance seriously. So, if you are new to Medicare and want some help getting started, give us a call at 563-579-6116, or email us at jon@schwenkerins.com.
