Turning 65 can be a daunting time, especially when it comes to navigating the complexities of Medicare. This guide provides essential information to help you make informed decisions about your coverage.

1. Know the Deadlines:

• Initial Enrollment Period: Enroll in Medicare 3 months before, during, or 3 months after your 65th birthday to avoid late enrollment penalties.
• Open Enrollment Period: Change your Medicare plan annually between October 15 and December 7.
• Special Enrollment Periods: Qualify for special enrollment if you lose job-based health insurance or experience other life changes.

2. Understand the Different Parts of Medicare:

• Part A: Covers hospital stays, skilled nursing facilities, hospice care, and some home health care (generally premium-free).
• Part B: Covers doctors’ services, outpatient care, medical supplies, and preventive services (monthly premium applies).
• Medicare Advantage Plans (Part C): Combines Part A & B benefits with additional coverage like vision, hearing, and wellness programs. Premiums and cost-sharing vary.
• Part D: Covers prescription drugs (separate plan enrollment required). Check if your Medicare Advantage plan includes drug coverage.

3. Decide if You Need a Medigap Plan:

These private plans supplement Medicare by covering out-of-pocket expenses like deductibles and copayments. Consider Medigap if you want additional coverage or lack employer health insurance.

4. Calculate Your Costs:

• Part A: Most people don’t pay a premium.
• Part B: Premiums are income-based.
• Medicare Advantage Plans: Premiums and cost-sharing vary.
• Part D: Premiums vary depending on the chosen plan.

5. Compare Plans:

• Use the Medicare Plan Finder to compare benefits, costs, and network providers.
• Consider your medical needs and budget when choosing a plan.
• Check if your doctors accept the plan you’re considering.

6. Call Ashford Insurance for free assistance: 817-952-3153

Remember:

• Enroll in Medicare during the appropriate timeframe to avoid penalties.
• Understand the different parts of Medicare and their coverage.
• Consider if a Medigap plan is right for you.
• Compare plans carefully based on your needs and budget.
• Utilize available resources for assistance.

By following these steps and utilizing available resources, you can navigate the complexities of Medicare and choose the coverage that best meets your needs.