Are you turning 65, or over 65 and recently retired?
How you enroll in Medicare will depend on your unique situation. You may still be working, which will affect how you use your benefits. Or you may need to find coverage for your dependents once you make the switch from your current health benefits. Whatever your needs, Toubin Insurance Agency can help you.
Medicare Supplement Plans
Medicare Supplements (Medigap)
Medicare Supplement Insurance policies (also known as Medigap) are offered through private carriers and work in conjunction to complement your original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other excess charges. There are many different types of Medicare Supplement policies available, yet they are regulated so the benefits for these various policies (known as Plan A through N), are all the same regardless of the carrier. However, premiums can vary greatly among carriers. Ultimately, the best supplement plan is one that is purchased from a quality carrier, has a low premium and leaves you with the least or no out of pocket expenses.
The Basics of Medicare
What is Medicare?
Medicare is the federal health insurance program for people who are 65 or older. The different parts of Medicare help cover specific services. Specifically, Part A covers hospital or nursing facility stays, as well as hospice and home health care. Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
Eligibility for Medicare
Most people will have an Initial Enrollment Period which is a 7 month period around the time they turn age 65. This period begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65. Once enrolled in Medicare, if you wish to change your plan, you must act during the annual open enrollment period.
Annual Open Enrollment – October 15th through December 7th.
