When you reach age 65, you may receive Medicare benefits. Even though it is possible to navigate the Medicare process alone, you can also use the services of a Medicare specialist. You can also use the tips here to make a smooth transition to this coverage.
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Sign Up for Medicare Three Months before Turning 65
Eligibility for Medicare begins at age 65. However, you can sign up earlier to ensure your coverage starts on time. This is called your IEP or Initial Enrollment Period. Each person’s IEP is unique to when their birthday is. It’s recommended that you begin the enrollment process as soon as your IEP begins to avoid delays.
Find Out if You Qualify for Automatic Medicare Enrollment
When seeking help with Medicare, it’s a good idea to find out if you will be enrolled automatically. For those who currently receive Railroad Retirement Board benefits or Social Security benefits, you will be enrolled automatically in Original Medicare. This includes Parts A and B. When the time arrives, Medicare will mail your card to you.
The coverage for automatic enrollment goes into effect the first day of your 65th birth month or on the month of your 25th disability check.
It’s important to note that you still have the IEP. At this time, you can make changes to other coverage you receive, including adding a Medicare Advantage plan or Part D prescription drug plan.
Consider Waiting for Medicare Part B Coverage
Sometimes it is possible to postpone Part B, which means paying the premium. This is possible if you have other creditable coverage.
One example of someone who can do this is an individual working past the age of 65 with employer-sponsored health insurance from an employer who has 20 or more employees. You may also have employer coverage from your partner’s employer that employs over 20 employees and allows covered dependents to delay their Medicare enrollment.
Make sure you check with the administrator of your plan benefits to ensure you can postpone Part B enrollment. If you do this without confirming it is possible, you may not be eligible for a Special Enrollment Period to get the coverage at another date.
Select a Plan with the Benefits You Need
After you sign up for Part A and B Medicare, you must consider if additional coverage is needed. Remember, Part A and B only cover hospital and medical-related costs. This means dental and drugs aren’t included.
Medicare Part D provides prescription drug coverage, while Medicare Advantage plans offer coverage for hearing, vision, dental, and prescription drugs. Figure out what you want and need to be covered before choosing a Medicare plan.
Add More Coverage to Original Medicare
If you select Original Medicare, it’s possible to add more coverage to the plan. This includes adding Medicare Part D to cover prescription drug costs. You must purchase this plan from a private insurance company.
Getting the Medicare Coverage You Need
It can feel like an overwhelming puzzle when you first start thinking about Medicare. However, when you know the basics and reach out to a professional, you can navigate this process and feel confident that you need the coverage.
