You have two ways to get Medicare.  Medicare is a federal health insurance program for people 65 years of age or older.  Original Medicare (usually referred to as Part A and Part B) or Medicare Advantage (Part C).  You’ll need to review the differences to determine the option you want.

Part A- Part of Original Medicare and pays for Hospital Care.

Part B-Part of Original Medicare and pays for doctor’s care and outpatient care.

Part C- Also known as Medicare Advantage.  These plans are offered by private companies and typically include medical and prescription drug (Part D) coverage.  They may also offer a medical only plan.

Part D- Prescription drug coverage.  You have two ways to obtain drug coverage.  First, you can enroll in a Medicare Advantage (Part C) plan that also offers prescription drug coverage or you can enroll in a stand-alone Medicare Part D plan to go with Original Medicare coverage.  This coverage is optional, however, if you don’t sign up for Medicare Part D as soon as you are eligible, you may pay a penalty on your premium unless you qualify for an exception.

If you elect Original Medicare, there are Medicare Supplements sold by private health insurance companies to fill the “gaps” in Medicare coverage.

The timing matters when you’re choosing coverage options.  Just before turning 65 or becoming eligible for Medicare, the open enrollment begins.  If you wait until later to join, you may have to pay more and have fewer choices.  You will have opportunity to change your choices at least once a year.  Plan to review your situation each year to see if you need to make changes.  The annual enrollment period runs October 15 to December 7 of each calendar year for Part C and Part D plans.

For more information or to get a quote, fill out our online quote form or contact our office.

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