Medicare Answers

Medicare Solutions 

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  Taking the Confusion Out of Medicare and Medicare Choices

Whether you are just turning age 65 or have been on Medicare for years, it is confusing! 

You have Part A of Medicare, Part B of Medicare, Part C which isn’t actually Medicare and Part D for your Prescription Drugs.  What does it all mean?

What is Medicare?

Medicare is a federal health insurance program designed for eligible Americans who are 65 or older as well as certain disabled Americans.

Original Medicare consists of two distinct parts: Part A which covers your hospital and inpatient medical care and Part B which pays for your doctor visits and outpatient care.

For more detailed information about enrolling in Medicare click to visit Medicare.gov

  • You must elect to enroll in Part A and/or Part B at age 65 unless you are receiving Social Security Benefits in which case enrollment will be automatic.
  • Turning Age 65 – You can enroll in Medicare anytime within 3 months prior to the month that you turn age 65 and 3 months after the month that you turned age 65
    • Example: You turn age 65 April 15. You can enroll anytime during January thru March as well as from June 1 thru August 31
  • If you have a qualifying disability you will have a Special Enrollment period
  • You can postpone enrollment into Medicare after age 65 if you have Qualifying Group Health Insurance from your employer or that of your spouse

Delaying Enrollment in Medicare Part A and Part B

As a general rule any eligible adult turning age 65 should enroll as stated above, however there are exceptions where you delay enrollment without a late enrollment penalty.

  • If you are employed by an employer with fewer than 20 full-time employees you should enroll in both Parts A and B
  • If you are employed by and employer with more than 20 eligible you can delay enrollment in Medicare if your employer provides a qualified health insurance plan as defined by the Internal Revenue Service
  • The above applied to coverage under a spouse’s group health insurance and coverage offered through COBRA.
  • An individual with qualifying health insurance can still enroll in Premium-Free Part A Medicare coverage

If you are military or former military and have Tricare Coverage you must enroll in both Parts A and B to qualify for Tricare Benefits

 

If you are diagnosed with End-Stage Renal Disease you may qualify for Medicare benefits CLICK HERE TO READ MORE

Medicare Costs

Medicare Part A

For most people Medicare Part A is provided premium-free

 

Medicare Part B

There is a monthly cost for Medicare Part B. The monthly premium for Medicare Part B is dependent on your taxable income

For the great majority of individuals the monthly Medicare Part B premium in 2020 will be $144.60

For incomes above $87,000 for individuals and $174,000 for married filing jointly the monthly cost increases

FOR THE MONTHLY PREMIUMS CLICK HERE

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Medicare Part A Coverage

Inpatient care in a hospital

Skilled Nursing Facility care

Nursing Home Care (Not for custodial care)

Hospice care

Home Health Care

For more definitive explanations CLICK HERE

Medicare Part B Coverage

Medicare Part B provides coverage for:

Medically necessary outpatient services such as doctor appointments, physical therapy, durable medical equipment

Preventative services

For more definitive explanations CLICK HERE

For the absolute best advice contact a local independent agent (such as ME!)

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