Medicare Explained

As many people enter retirement, they lose the health insurance that they had through their employer. This can create a tremendous financial burden and leaves many seniors in need of quality health insurance. Medicare is the solution to this problem that many face.

Medicare Explained

Medicare is health insurance intended for seniors and covers many necessary medical costs and allows for beneficiaries to have access to the medical services that they need.

Medicare Eligibility

Medicare is very specific about eligibility and enrollment dates. The typical Medicare enrollment age is 65. There is an Initial Enrollment Period that spans three months before and three months after the individual’s birthday month. For a total of seven months, the Initial Enrollment Period is when it’s best to enroll.

While age is the most common eligibility factor, it is possibly to qualify for Medicare under 65 with a disability..

Enrolling in Medicare

If you’re receiving Social Security, then you’ll be automatically enrolled in Medicare around your 65th birthday. If this happens, you’ll receive an enrollment packet in the mail with important information about your new health insurance coverage. It’s important to keep this information so that you can look back on it in the future if you have any questions.

If you’re not automatically enrolled, it is still possible to purchase a policy. You can enroll in Medicare online, over the phone, or in person. Which enrollment method you choose will depend on what’s most convenient for you.

As a local and independent agency that cares about your coverage needs, we can walk you through this process and make it easier for you to get the Medicare coverage you need!

Original Medicare vs. Medicare Advantage

There are two main types of Medicare policies. Original Medicare offers fixed coverage and is an excellent option for those wanting a minimal level of health insurance. Those that are automatically enrolled will receive Original Medicare, but it is possible to switch your policy to the other option.

On the other hand, Medicare Advantage allows for beneficiaries to pick and choose the areas of health insurance that they would like to be included in their policy. This is a valuable option if you’re wanting to expand your health coverage and select areas that aren’t included within Original Medicare. Keep in mind that all Medicare Advantage policies will contain Original Medicare coverage as a baseline and then more benefits can be added on from there. You must also be enrolled in Original Medicare first before you can join a Medicare Advantage plan.

Which type of policy you choose will depend on your insurance goals and the budget that you have. If you’re feeling uncertain about which policy is right for you, consider making an appointment with an insurance professional who can provide you with some more information.

Medicare Explained

Contact Us Today!

If you’re interested in learning more, give us a call today and we’ll be happy to discuss your options! We’re here to answer your Medicare questions and provide you with the information you need to be confident in your policy decision.