Let’s talk about Medicare
Medicare (Part A & Part B): Part A & Part B is also known as Original Medicare. Original Medicare serves as the foundation for private Medicare Advantage and Medicare Supplement plans.
With Original Medicare, you’ll still have to pay for prescription drugs, emergency care in foreign countries and your first three pints of medically necessary blood per year. You are also responsible for deductibles and co-payments of up 20 percent on Part B costs. That’s why supplementary plans are a very important and affordable way to cover these additional out of pocket costs.
You become eligible for Medicare when you turn 65 or on your 25th month of collecting Social Security Disability. If you are drawing some form of Social Security benefit (retirement of disability) and become eligible for Medicare, you will be automatically enrolled in Part A and B.
If you are not collecting any Social Security benefit when you become eligible for Medicare, you must enroll through Social Security by doing one of the following:
If you’re automatically enrolled in Medicare, then your official Medicare card will arrive in the mail 2 to 3 months before you’re eligible. Otherwise, your card will arrive about 3 weeks after you apply for Medicare coverage. The sooner you apply, the sooner your card will be ready. You can access benefits as soon as your coverage begins.
Original Medicare isn’t free, but it’s a more affordable option than anything else.
You don’t have to pay for Medicare Part A under most circumstances (the monthly premium for Part A is $0 for those who have worked long enough to quality for Social Security benefits). You’ll still need to pay a deductible for each hospital stay before Part A covers some of your hospital costs – but Medicare Supplement and most Medicare Advantage plans cover this.
The premium for Medicare Part B is generally $144.60 (for 2020) per month, although the exact cost will depend on your tax returns from two years ago. Additionally, you’ll need to pay 20 percent of your medical costs on Part B – but Medicare Supplement and most Medicare Advantage plans pay this for you too.
You must be a U.S. citizen or legal resident. Legal residents must live in the U.S. for at least 5 consecutive years, including the 5 years prior to applying for Medicare; AND, one of the following:
DISCLAIMER: We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.