New to
Medicare
What is Medicare?
Medicare is health insurance for people who are 65 or older, certain people under 65 with disabilities, and people of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant).
5 Steps to Medicare Enrollment
1. Enrollment Dates
Knowing your method of enrolling in Medicare is vital in ensuring that you register at the appropriate time. There are 4 different time periods to sign up, which are listed below.
Initial Enrollment Period (IEP/ICEP)
Three months before until three months after turning 65, you are able to sign up for Medicare. Most people sign up for Medicare during this window. This period only applies if you do not delay in Part B benefits.
Annual Enrollment Period (AEP)
Beginning October 15 until December 7, you may switch plans or add or delete Part D drug coverage. If a new plan is chosen, it will come into effect on January 1st of the following year.
Medicare Open Enrollment Period (OEP)
From January 1 – March 31, MA plan enrollees may enroll in another MA plan or disenroll from their MA plan and return to Original Medicare. Individuals may make only one election during period.
Special Election Period (SEP)
If you make a change of residence or lose your groupd coverage or if your plan is withdrawing from the market in the upcoming year, you may enroll in a special time window.
2. Learn about the Parts of Medicare
Medicare, which consists of four parts (A-D), covers hospitalizations, physician services, prescription drugs, skilled nursing facility care, home health visits, and hospice care, among other services.
Medicare Part A
Medicare Part A helps to pay for hospital, skilled nursing facilities, home health, and hospice care.
Medicare Part B
Medicare Part B helps to pay for physician services, outpatient services, durable medical equipment and other medical services such as inpatient and outpatient medical and surgical services and supplies, physical and speech therapy, and diagnostic tests.
Medicare Part C
Medicare Part C refers to Medicare health plans or ‘Medicare Advantage’ plans (formerly known as Medicare Choice+ plans) offered by Medicare-approved private companies that must follow rules set by Medicare. These plans incorporate your Part A, Part B and often Part D – Prescription Drug coverage – into one plan.
Medicare Part D
Beginning in 2006, insurance coverage for prescription medications was made available for people with Medicare. Medicare Part D Prescription Drug plans often require payment of a plan premium, and some plans require an annual deductible to be met before the plan begins to pay for drugs. Copayments are then required, with generic medications normally featuring lower copays as compared to name brand medications.
3. Compare Plans
There are a lot of choices to choose from. It is important to understand the difference between them and which one will work best for you.
Original Medicare vs. Medicare Advantage
There are typically 2 main ways of getting Medicare coverage—Original Medicare and Medicare Advantage. Here are some important reminders.
Original Medicare (Medicare Part A and Part B)
- Original Medicare includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).
- If you want prescription drug coverage, you can join a separate Part D plan.
- Can use any doctor or hospital that takes Medicare, anywhere in the U.S.
Medicare Advantage (also known as Part C)
- Medicare Advantage is an “all in one” alternative to Original Medicare. These “bundled” plans include Part A, Part B, and usually Part D.
- Plans may have lower out-of-pocket costs than Original Medicare.
- In most cases, you’ll need to use doctors who are in the plan’s network.
- Most plans offer extra benefits that Original Medicare doesn’t cover—like vision, hearing, dental, and more.
- Each year, Medicare Advantage plans can choose to leave Medicare or make changes to the services they cover and what you pay. If the plan decides to stop participating in Medicare, you’ll have to join another Medicare Advantage plan or return to Original Medicare.
Picking the Right Option for You
If you desire or require additional coverage beyond Original Medicare there are two popular options available: Medicare Supplement (Medigap) and Medicare Advantage plans. Medicare Supplement plans and Medicare Advantage plans are both offered by private insurance companies. Both require you to enroll in Part A and Part B, as well as pay your monthly Part B Medicare premium. Should you try and fill the gap or take advantage of a convenient all in one plan?
Find Options/Medicare Plans
Like Medicare (Title XVIII of the Social Security Act), The Social Security Amendments of 1965 created Medicaid by adding Title XIX to the Social Security Act. Both are federally established, government run programs meant to be a social safety net for those who need help with similar sounding names. However, the programs are separately operated and funded, and primarily serve different groups
Medicare provides health insurance program for individuals over 65 years old, or under 65 with a serious or permanent disability, no matter what an individual’s income may be.
Medicaid is a joint state and federal health insurance program for individuals with very low incomes and/or some disabilities.
4. Contact Us
Contact our toll-free helpline, without obligation, and connect with a licensed insurance agent to guide you through the enrollment process and get you the plan that best fits your needs. Once enrolled in Part A and/or Part B, You can contact us to compare your health plan options via the MedicareCompareUSA Helpline toll-free at 866-391-7763, TTY 711, to speak to a licensed insurance agent who is trained to help you understand your Medicare options, or request assistance.
5. Celebrate!
Still want to learn more? Check out our Medicare Education Center!
If you’re new to Medicare, you probably have a lot of questions. We can help you understand your options and find a plan that best meets your needs and allows you to keep your doctors and hospital. We’ll also be there for you through the entire enrollment process. Our agents are here to help, and there is no obligation and never a fee for our service.