What is medicare

The Medicare program is a federal health insurance program administered by The Social Security Administration. It provides health care coverage to people age 65 and older as well as people with certain disabilities and chronic conditions. This is what you need to know about Medicare.

Original Medicare

Original Medicare is the primary Medicare plan. It consists of Part A hospital insurance and Part B medical insurance. When you enroll in both components, you should have access to a majority of typical health care services. If you prefer, you can also choose to only enroll in one of the parts of the program. Before choosing your coverage, consult with a health care insurance professional like Weinstein Wealth Insurance Solutions. With their help, you can identify which benefits you need and arrange your coverage appropriately.

Medicare Advantage

Medicare Advantage is covered under Part C of the Medicare program. Medicare Advantage plans are Medicare plans that are provided by private insurance companies, rather than directly through Medicare. Medicare Advantage plans still provide access to Part A and B benefits, but they are covered by a privately produced insurance policy. For this reason, Medicare Advantage plans often allow members to access unique benefits that are not available through Medicare Advantage.

For example, some plans cover transportation to and from health care visits, while others include hearing, dental, and vision coverage. What your Advantage plan includes will vary based on your location and the plan provider. To find a plan that suits your health care needs, get in touch with a health insurance professional.

Medicare Eligibility

To be eligible for Medicare, you must be above age 65 or diagnosed with a qualifying disability. For people who are turning age 65, eligibility begins on the day you turn 65 and you can actually begin the enrollment process three months before that. If you hope to qualify for Medicare due to a disability, you must collect Social Security disability benefits for at least 24 months before you can qualify for Medicare benefits. Regardless of how you qualify, you will need to enroll in Medicare during an enrollment period.

Medicare Enrollment

There are several enrollment periods for Medicare. Each one is a designated period wherein Medicare applicants can begin the enrollment process. The best time to enroll is the Initial Enrollment Period, which begins 3 months before your 65th birthday or 24th month of receiving Social Security Disability benefits. It ends 4 months later, allowing you seven months to enroll in Medicare. If you happen to be unable to enroll during this period, there is also a general enrollment period from January 1 to March 31. You can enroll during this time each year.

If you don’t enroll during either of these periods, or you happen to need insurance during a different time of the year, you may qualify for a Special Enrollment Period. These periods are granted to people who have recently experienced certain life events that would have impacted their ability to sign up for Medicare during another enrollment period. To determine whether your situation qualifies you for a Special Enrollment Period, speak with an insurance agent.

Your Medicare Questions Answered

Bruce and Robyn of Weinstein Wealth Insurance Solutions are licensed and certified professionals who have been working in this industry for years. They are up-to-date on all of Medicare’s standard procedures, therefore you can trust them to find you the health care coverage you need. To get in touch, give them a call today.