What Are The Alternatives For Original Medicare When You Turn 65?

When you turn 65 and become eligible for Medicare, you might seek Medicare coverage beyond Original Medicare (Part A and Part B). This might comprise:

• Medicare Supplement Insurance (Medigap) plans: Plans for Medicare Supplement insurance assist in covering deductibles, copayments, and other out-of-pocket expenses. Once you turn 65 and sign up for Medicare Part B, you have a six-month open enrollment period for Medicare supplements.
• Medicare Part D: Medicare Prescription drug coverage is provided under Medicare Part D. Some Medicare beneficiaries choose Part D coverage since Original Medicare typically does not cover the majority of the prescription medications you take at home. You have a 7-month initial enrollment period for Part D that begins three months before your 65th birthday, includes your 65th birthday, and ends three months after.

A Medicare Advantage plan can also be something you want.

• A private insurance firm that offers Medicare Advantage is an alternative option to receive your Part A and Part B benefits. The Medicare Advantage Initial Enrollment Period is the same as the Medicare Part D Initial Enrollment Period, which is 7 months. Medicare Advantage plans must cover everything that Medicare Part A and Part B cover, with the exception of hospice care, which is still covered by Medicare Part A. It begins three months prior to turning 65, spans the month of your 65th birthday, and concludes three months following that milestone.