If you're reaching Medicare age soon, check it out!
There’s a lot to think about. You’ll want to know when to sign up, how to sign up, how much it’s going to cost, and what to know if you’re still working. So if you’re turning 65 in the next few years and you want a quick overview, stay right here.
Ready to dive in to the details? Check out our All About Medicare Page
OK, let’s talk about how you’ll get started with Medicare. The first step is enrolling in Original Medicare, Medicare Parts A and B. Here’s the when and how of it all.
Even if you're a year or more away from turning 65, you can begin preparing now. These helpful tips can get you started on the right path.
IMPORTANT: If you decide not to enroll in Medicare Part B when you're first eligible, you may have to pay late-enrollment fees should you decide to enroll at a later date. Plus, you may be responsible for the medical expenses Medicare Part B would have covered.
If you are enrolled in employer-sponsored health insurance and you plan to keep working, you need to know your options.
Here are some important things to know about how you might want to use Medicare.
How many people are in your company?
When you work for a larger employer, you have choices:
Your employer-sponsored health insurance will be the "primary payer" and Medicare will be the "secondary payer". In other words… When you file a claim, your employer-sponsored health insurance will pay first and Medicare will pay second.
As great as it is… Medicare alone can leave you responsible for thousands of dollars out of your pocket. If you cancel your employer-sponsored health insurance for Medicare, you will want to add a Medicare Supplement, like Plan 65. Plan 65 helps fill the gaps that Medicare leaves behind.
When you work for a smaller employer, you have choices:
Medicare will be the "primary payer" and your employer-sponsored health insurance will be the "secondary payer". In other words… When you file a claim, Medicare will pay first and your employer-sponsored health insurance will pay second.
While Medicare provides important coverage, only being covered by Medicare alone can leave you responsible for thousands of dollars out of your pocket. If you cancel your employer-sponsored health insurance for Medicare, you will want to add a Medicare Supplement, like Plan 65. Plan 65 helps fill the gaps that Medicare leaves behind.
If it wasn’t for Medicare, health care might become really expensive at 65 and beyond. Almost everyone gets Original Medicare since it covers the basics with A (for hospital stays) and B (for medical and doctor visits). You may have to pay a premium for Medicare Part A but most people don’t, and Medicare Part B premiums are very affordable. You can get additional benefits with private insurers like us to help you cover services and expenses Original Medicare doesn’t cover. There are also special programs available if you need more help affording the costs of Medicare.
It’s important to think about whether you have dependents on your current health insurance plan. If you’re the primary insurance holder on your plan, when you sign up for Medicare your dependents will no longer be covered under that plan or under your new Medicare plan. These family members can purchase a separate individual or family health plan from a private insurer, like us.