Learning about Medicare doesn't have to be hard. We'll explain what you need to know to make good choices about your health care.
Medicare is a health insurance program from the government. It's mostly for people who are 65 or older. It also helps younger people with certain health problems and people with serious kidney disease.
| Medicare Part | What It Covers |
|---|---|
| Part A (Hospital Insurance) | Helps pay for inpatient care you get in hospitals, critical access hospitals, and skilled nursing facilities. It also helps cover hospice care and some home health care. |
| Part B (Medical Insurance) | Medicare Part B helps cover medical services like doctors' services, outpatient care, and other medical services that Part A doesn't cover. |
| Part C (Medicare Advantage) | Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage. These "bundled" plans include Part A, Part B, and usually Part D. |
| Part D (Drug Coverage) | Helps pay for medicine your doctor prescribes. Private insurance companies run these plans. |
| Medicare Supplement (Medigap) | Extra insurance you can buy from a private company that helps pay your share of costs in Original Medicare. Policies are standardized, and in most states named by letters, like Plan G or Plan N. |
Most people can get Medicare when they turn 65. You might get it earlier if you have certain health problems.
| When to Sign Up | What to Know |
|---|---|
| Initial Enrollment Period | You have 7 months to sign up: 3 months before your 65th birth month and 3 months after. |
| Open Enrollment Period | October 15 - December 7 each year. You can join, switch, or drop Medicare Advantage or drug plans. |
| Advantage Open Enrollment Period | January 1 - March 31 each year. If you have Medicare Advantage, you can switch or drop your plan. |
| Special Enrollment Periods | You can sign up at other times if your life changes, like moving or losing other health insurance. |
| Medicare Supplement Open Enrollment Period | Under federal law, you get a 6-month Medigap Open Enrollment Period that starts the first month you have Medicare Part B and you're 65 or older. |
Let's look at what each part of Medicare costs and covers to help you make an informed decision.
| Term | What It Means |
|---|---|
| Premium | The amount you pay each month for your insurance. |
| Deductible | The amount you pay before your insurance starts to help. For example, if your deductible is $1,000, you pay $1,000 before your insurance helps pay. |
| Co-insurance | The percent you pay after meeting your deductible. If your co-insurance is 20%, you pay $20 of a $100 bill, and your insurance pays $80. |
| Benefit Period | For Part A, this starts when you go to the hospital or skilled nursing facilities. It ends when you've been out for 60 days in a row. |
Picking the right Medicare plan depends on what health care you need, how much you can spend, which doctors you want to see, and other things that matter to you. It's important to look at all your choices before you decide.
Our Medicare helpers can help you understand your choices and find the coverage that's best for you. Contact us for help that fits your needs.
