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Embracing *Medicare at 65:
What You Need to Know
Turning 65 is a significant milestone in many ways. It might be the age when you look forward to spending quality time with your grandchildren, consider retirement, or embark on a long-awaited journey. Additionally, for many, the age of 65 signifies the commencement of their *Medicare eligibility, adding another dimension to this pivotal year. If you’re 65 and eligible for Social Security benefits, you can access Medicare Part A at no additional cost.
*Medicare, a health insurance initiative by the federal government, provides hospital coverage (Part A) and medical insurance (Part B) to individuals aged 65 and above. Additionally, those under 65 with certain disabilities can also benefit from this program. Collectively, Medicare Parts A and B are referred to as Original Medicare.
When Should You Sign Up for *Medicare?
As the age of 65 nears, it’s time to think about *Medicare enrollment. The optimal period for this spans three months before your 65th birthday, includes the birthday month, and continues for three months after. It’s crucial not to miss this seven-month window, as delays might lead to extra costs.
Exploring Medicare Options Post-65
Once you’re 65 and have enrolled in Medicare, you might ponder over enhancing your coverage beyond the standard Medicare Part A and Part B. Here’s a glimpse of the available choices:
➔ Medicare Supplement (Medigap) Plans: These are designed to fill the gaps in Original *Medicare by addressing costs like deductibles and copayments. Upon joining Medicare Part B at 65, you have a six-month period to choose a Medigap plan without undergoing health evaluations.
➔ Medicare Part D: Tailored for prescription drug coverage, Part D is a go-to for many since Original Medicare doesn’t comprehensively cover medications taken at home. The sign-up period for Part D coincides with the seven-month window around your 65th birthday.
➔ Medicare Advantage Overview: Delivered by private insurance companies, Medicare Advantage is an alternate route to access the benefits of Part A and Part B. The sign-up timeline for Medicare Advantage aligns with that of Part D, covering seven months. It’s worth noting that while these plans cover most benefits of Parts A and B, hospice care remains exclusively under Part A. The enrollment phase begins three months before turning 65 and concludes three months after the birthday.
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It’s imperative for beneficiaries to thoroughly explore available options, ensuring alignment with their specific healthcare and financial needs. Always validate information with the most recent and localized data to ensure accurate and beneficial plan selection. Not all plans offer all of these benefits. Benefits may vary[The benefits mentioned are a part of special supplemental program for the chronically ill. Not all members qualify.]
[The benefits mentioned are Special Supplemental Benefits for the Chronically Ill (SSBCI). You may qualify for SSBCI if you have a high risk for hospitalization and require intensive care coordination to manage chronic conditions such as Chronic Kidney Diseases, Chronic Lung Disorders, Cardiovascular Disorders, Chronic Heart Failure, or Diabetes. For a full list of chronic conditions or to learn more about other eligibility requirements needed to qualify for SSBCI benefits, please refer to Chapter 4 in the plan’s Evidence of Coverage.]
[Part B Premium giveback is not available with all plans. Availability varies by carrier and location. Actual Part B premium reduction could be lower.
Enrollment in a plan may be limited to certain times of the year unless you qualify for a Special Enrollment Period or you are in your Medicare Initial Enrollment Period.] by carrier and location. Limitations and exclusions may apply.]
[[[Senior Healthcare Advisors, LLC, ], [in California – SCH Insurance Agency]] not connected/endorsed by a government entity. Choosing the best Medicare advantage plan can become a long and excruciating process without having the right team of experts to support you in your decision-making. Read More The first step in understanding Medicare health insurance and all the benefits you can get with Medicare is to ask the right questions. These are a few of the right questions to ask with the answers. Read More Over-the-counter items or OTC for short are medicines or products that are used to aid in the treatment or management of certain health conditions or for general health and wellness. Read More Cataracts enormously impact the quality of your life and your activities of daily living. Read More Gradually diminishing hearing or age-related hearing loss is a common problem for individuals over 65. It is a condition referred to as presbycusis, and one out of every three older adults experience some level of hearing loss. Read More Yes and no. The answer depends on the Medicare coverage you have currently. If you only have Medicare Part A, hospital, and Part B, medical, then no. If you have a Medicare Advantage plan or Medicare Part C, yes. Read more With Medicare Part B premiums rising in 2022, you may want to look for ways to save money and lower your premiums on your Medicare costs. New Medicare Advantage giveback plans do just that…give back! They give back a portion of your Part B premium. Read More“Receive Expert Assistance Enrolling in a Medicare Advantage Plan through a Licensed Sales Agent”
[We do not offer every plan available in you’re area. Currently we represent [x]organizations which offer [xxxx] products in your area. Please contact Medicare.gov, [1-800-MEDICARE], or your local State Health Insurance Program (SHIP) to get information on all of your options. [[Senior Healthcare Advisors, LLC,], [in California – SCH Insurance Agency]] represents Medicare Advantage [HMO, PPO and PFFS] organizations [and stand-alone PDP prescription drug plans] that have a Medicare contract.] [Members may receive a monthly or quarterly allowance in the form of a benefits prepaid card to pay for a wide range of approved [groceries] [and] [utilities]. Unused amounts will expire at the end of the month or quarter. Enrollment depends on the plan’s contract renewal.
You also agree to the Terms, Privacy Policy.]] [Part B Premium giveback is not available with all plans. Availability varies by carrier and location. Actual Part B premium reduction could be lower. Enrollment in a plan may be limited to certain times of the year unless you qualify for a Special Enrollment Period or you are in your Medicare Initial Enrollment Period.]
