Apply for Medicare

Understanding Medicare at Age 65

Reaching age 65 is a significant milestone, as it marks your eligibility to apply for Medicare. Medicare is a federal health insurance program that provides coverage for hospital stays, medical care, and more. It is important to know when and how to sign up for Medicare to avoid penalties and ensure continuous coverage.

Here are a few key points to remember:

• You can sign up for Medicare Part A and Part B starting three months before you turn 65.
• Medicare benefits begin on the first day of the month you turn 65.
• If you miss the initial enrollment period, you might have to wait until the General Enrollment Period and pay a late enrollment penalty.
  
  

How Medicare Works

Medicare is divided into different parts, each covering specific health care services:

• Part A: Hospital Insurance, covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
• Part B: Medical Insurance, covers certain doctors' services, outpatient care, medical supplies, and preventive services.

Most people do not pay a premium for Part A if they or their spouse paid Medicare taxes while working. However, Part B requires a monthly premium, and the cost can vary based on your income level.

When to Sign Up for Medicare

It's important to sign up for Medicare during your Initial Enrollment Period (IEP), which is the seven-month period that starts three months before the month you turn 65, includes your birthday month, and ends three months after. Signing up during this period helps you avoid late enrollment penalties and ensures your coverage starts on time. If you are still working and have health insurance through your employer, you may be able to delay enrolling in Part B without penalty. However, you should check with your benefits administrator to confirm your options.

Special Enrollment Period

If you miss your Initial Enrollment Period, you might qualify for a Special Enrollment Period (SEP). This is available if:

• You or your spouse are still working and covered by a group health plan based on current employment.
• You have been receiving Social Security disability benefits for 24 months.

During the SEP, you can sign up for Part B without facing a late enrollment penalty.

Medicare and Disability Benefits

If you are under 65 and receive Social Security disability benefits or have ALS (also called Lou Gehrig's disease), you might automatically get Medicare Part A and Part B after 24 months of disability benefits. Individuals with End-Stage Renal Disease (ESRD) also qualify for Medicare, but they need to apply for it separately.

Cost and Coverage

While Medicare provides extensive coverage, there are costs associated with it:

• Part A: Most people do not pay a premium, but there are deductibles and coinsurance for hospital stays.
• Part B: Monthly premiums, annual deductible, and coinsurance for services.

Additional coverage options include Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D). These plans can help cover the costs that Original Medicare does not cover.

How to Apply for Medicare

To apply for Medicare, follow these steps:

• Visit the Social Security Administration website or call your local Social Security office.
• Complete the online application or schedule an appointment with a Social Security representative.
• Answer a few questions about your work history, health insurance, and any disability benefits you receive.

Once your application is processed, you will receive your Medicare card in the mail.

Alternatively, contact Mountaintop Insurance Solutions LLC for assistance in apply for Medicare. We are able to help!