Medicare Planning

If you have already received social security benefits, the federal agency that operates Medicare will contact you a few months before you qualify. Otherwise, you should register three months before your 65th birthday, even if you are not retired and you do not want to retire in the near future. There are also certain special cases in which you can apply before the age of 65. These include government employees who become disabled before the age of 65, or those with permanent kidney failure. Once you sign up, you will receive a Medicare card that indicates which parts gives you coverage.

If you are eligible for Part A for the first time, you have a seven-month period to register for Part B. If you delay the application, you will eventually have delayed coverage and higher charges. However, you have the option of enrolling in the general registration period each year, which starts from 1 January to 31 March. Your Part B coverage will start on the 1st of July of the year you sign up.

Best Medicare Supplement Plans 2020

Considering the possibility of higher costs, why would you not sign up immediately? The most popular reason is that you already have health insurance that you want to keep. While hospital insurance (part A) is free for almost everybody, health insurance (part B) comes with a monthly premium.

You need to measure whether the extra coverage is worth the added monthly cost. There is no right answer to this question; It depends on your personal situation and the type of insurance you already have. Talk to an insurance agent to see how your private plan and Medicare Part B work together. This is especially important for those who fall under a family policy. It is also important to note that neither private health insurance nor Medicare usually covers long-term care or nursing home. These needs should be planned separately. For those who choose to delay participation in Part B, those with employer plans have a special registration period. The special registration period allows you to record part B at any time while still covered by the group health plan and up to eight months after termination of employment or group coverage (whichever comes first) without penalty.

Get a 2020 supplement plans at

If you choose Medicare Part A and Part B, you can purchase Medigap, a Medicare supplement policy. Medigap is a private insurance policy that helps pay for some of the healthcare costs that Medicare does not cover, such as: Co-payments and deductibles. Medigap is different from a Medicare Advantage Plan (part C) and cannot be used if you are covered by part C.

Medicare Advantage plans are a way to get Medicare Part A and B benefits through private insurance while Medigap supplements the cost of your original Part A and B benefits with Medicare. There are 14 Medigap policies lettered A through N. Medigap Plan A offers the least coverage, while Plan N provides the most coverage.

Medigap vendors can typically use the medical risk assessment to decide whether to accept your application and how much you need to pay for your policy.