What’s the big deal about turning 65?
Throughout one’s life, there are certain “rights of passage” to turning a certain age. 16 means you can legally get your driver’s license, 18 means you can legally vote, and 21 means you can legally consume alcohol. But what about 65? Why isn’t that birthday just as celebrated? After all, that birthday means you are finally eligible for Medicare.
If you’re about to turn 65, you probably have a lot of questions about how to compare Medicare plans and what factors are most important for you to consider. Courtesy of our friends at MedicareInsurance.com, here are a few pointers.
Enrolling in Medicare
Medicare is a federally-regulated health insurance program that allows retirees, seniors, and those with certain disabilities to more easily afford their healthcare expenses. As stated, most people will become qualified for Original Medicare benefits beginning at 65 years old.
This is quite convenient, as most people tend to see at least some decrease in their overall health and wellness beginning around retirement age. With that, of course, comes an increase in healthcare needs and expenses.
But how does one enroll in Original Medicare? It all begins with your IEP or Initial Enrollment Period. The IEP begins three months before a person reaches the age of 65 for the majority of Americans, lasts the entire month of their 65th birthday, and lasts three months afterward, for a total of seven months.
You can start enrolling in Medicare at your IEP by completing these steps.
What if I fail to enroll during my IEP?
Though enrolling in Medicare is not technically a requirement, failing to do so during your IEP may result in late enrollment penalties should you decide to enroll later. Though it is possible to delay your initial Medicare enrollment, it’s usually a good idea to fully consider all your options before choosing to do so.
Can I get additional Medicare benefits beyond what Original Medicare can provide?
Parts A and B of Original Medicare, commonly known as “Traditional Medicare,”, are the base model for Medicare plans, but if you find that this level of coverage isn’t quite enough to meet all of your specific healthcare needs, you’ll likely be pleased to know that there are additional options.
Medicare Part C, also known as Medicare Advantage, is a type of Medicare coverage that can often offer more comprehensive healthcare benefits beyond what Original Medicare can provide. Though Medicare Advantage plans are legally required to offer the same level of coverage as Original Medicare plans at a minimum, they often include coverage for needs such as vision, dental, and hearing care.
It is important to remember that Medicare Advantage plans are provided by private insurance companies, and as such, pricing, availability, and exact benefits may vary from plan to plan. Still, did you know that it is possible to enroll in Medicare Advantage plans with premiums as low as $0? Contact the Medicare Advantage experts and licensed insurance agents at MedicareInsurance.com today to find out how!