How to get started with Medicare

As you age, health insurance becomes more and more important. Medicare is the most common health insurance in the United States for adults 65 and older and something you may be considering if you’re reaching that age.

You are eligible to sign up for Medicare starting three months before you turn 65. You may be eligible earlier if you have a disability, end-stage renal disease, or amyotrophic lateral sclerosis, also called Lou Gehrig’s disease.

Once you are eligible for Medicare, you cannot be denied coverage because of sickness, age, or any other life change. However, that doesn’t mean Medicare is a one-size-fits-all insurance, as you have several options to choose from, depending on your needs.

Here’s what you need to know about Medicare plans to get started.

Part A and Part B

Together, Medicare Parts A and B were the original coverage offered to older adults, and many still choose them. You may hear Parts A and B referred to as Original Medicare.

Part A covers inpatient hospital care, care at a skilled nursing facility or nursing home, hospice care, and home health care. It does not cover long-term stays but, after you meet your deductible, Original Medicare will pay the full amount for up to 60 days of inpatient care during a benefit period.

“A benefit period begins the day you are admitted to a hospital as an inpatient, or to a skilled nursing facility, and ends the day you have been out of the hospital or skilled nursing facility for 60 days in a row,” according to Medicare Interactive.

Part B covers medically necessary services and preventative services.

“Medically necessary services include those supplies, tests or other services to diagnose and treat your medical condition,” according to RetireGuide. “Preventative services include health care required to detect and treat a condition early on.”

After you meet your deductible, you pay only your share of costs. However, Original Medicare doesn’t cap out-of-pocket costs, so you may want to supplement your coverage with Medigap, Medicaid, or employee or union coverage.

Part C

Part C, commonly called a Medicare Advantage Plan, bundles Part A, Part B, and sometimes Part D into one plan. You can get this coverage through a Medicare-approved private company.

Your individualized plan may offer additional benefits beyond Original Medicare, such as vision, hearing, or dental services. Your monthly premium will vary, based on your coverage.

Part D

Part D helps cover the cost of prescription medications. How important this is to you depends on what medications you need. For example, if you have diabetes, having a Part D drug plan could mean you pay no more than $35 a month for insulin, according to the Medicare website.

It may be why 87% of respondents to a 2021 survey said they were satisfied with their Medicare prescription drug coverage, according to Medicare Today.

“Since its initial launch, the Medicare Part D prescription drug program remains overwhelmingly popular with American seniors,” according to Medicare Today.

Medigap

Medigap supplements your Original Medicare plan to help cover health care costs. Although Original Medicare covers most services, the amount you pay can still be hefty if you have an expensive surgery or cancer.

If you opt for a Medicare Advantage Plan instead of Original Medicare, you cannot pair the plan with supplemental coverage. However, Medigap can be helpful if, like many retirees, you plan to travel, as some policies cover medical care outside of the United States.

For more information about your Medicare options and to get started, visit medicare.gov.

How Can BoomersHub Help Seniors?

BoomersHub believes everyone deserves to live their life with dignity and respect. We have been working tirelessly to ensure the highest quality of support and resources for the elderly. Seniors and their families can find many quality articles concerning older adults on our blog and website. Besides, BoomersHub uses social media platforms to raise awareness about senior-related topics. Our experienced family advisors work alongside seniors and their families to find the best senior living facilities that provide them with a safe and nurturing environment.

Please visit our website or get in touch by calling +(877) 409-0666 or email at info@boomershub.com to avail of our free services!