Retiring? Here’s everything you should know about Medicare coverage
Turning 65 may come with cake and an extra birthday candle, but it also comes with a choice: the choice of your Medicare plan. During this milestone, it’s important to understand your goals and needs for the future so you can choose the plan that’s right for you.
That’s where HAP comes in. We’ll start by educating you about Medicare and all its various parts. We will help you review your Medicare options and what to do to avoid any penalties. When you’re ready to enroll, we can walk you through enrollment, and can even sit down one-on-one to help you get started.
Curious about coverage? Interested in getting to know the ins and outs of Medicare? Read on.
What is Medicare?
Medicare is a national health insurance program that provides coverage to people ages 65 and older, and to select individuals with disabilities or specific medical conditions. Enrollment begins three months before turning 65 and continues for seven months after.
Thinking about retirement? Nearing your 65th birthday? Let’s start talking about the best plan for you.
What are the parts?
Chances are, your goals and health needs differ from the people around you.
Medicare is broken down into four types of coverage to accommodate these differences and give individuals more complete options:
- Part A – Part A helps cover inpatient care in hospitals, care in skilled nursing facilities, hospice care and some home health care. It’s available at no cost for most people.
- Part B – Part B helps pay for doctors (both in and out of the hospital), durable medical equipment and some medical services that are not covered by Part A. If you receive Social Security benefits, the Part B premium is usually deducted from your monthly check.
- Part C – Part C is a Medicare Advantage plan. It includes Parts A and B plus additional benefits. Many Medicare Advantage plans feature prescription drug coverage.
- Part D – Part D helps pay for prescription drug coverage.
How much will I pay?
Depending on the coverage you choose, your Medicare premium could range from $0 to a couple hundred dollars per month. When it comes to Medicare, some health care services are covered in full. Others may carry out-of-pocket costs.
How do I enroll?
Remember, you’re eligible to enroll in a plan starting three months before your 65th birthday and for seven months afterward. Once you’ve signed up for Medicare Part A and Part B, you’ll also be able to enroll in a Medicare Advantage plan or Medicare Supplement plan. There are three ways to do so:
- Call (888)268-0067 (TTY: 711), Monday – April 1 through Sept. 30: Monday - Friday, 8 a.m. to 8 p.m. Oct. 1 through March 31: seven days a week, 8 a.m. to 8 p.m.
- Enroll online
- Take a 5 question Medicare quiz
HAP is here to support members through every life milestone, like enrolling in a Medicare plan. So, as you blow out the candles this year, feel confident knowing you have access to comprehensive Medicare coverage and a team of support by your side.