As you approach age 65, it's important to start thinking about Medicare. Medicare is a federal health insurance program that covers people over the age of 65, as well as those with certain disabilities and illnesses. It is a complicated program and worse, it is always changing. It's important to have someone help you with your medicare enrollment in Utah. That way, you know that you are doing everything correctly and that you won't be subject to any penalties. Here's what you need to know:
Understanding the Parts of Medicare
First, it's important to understand the different parts of Medicare. There are four parts: Part A, Part B, Part C, and Part D.
Part A: This is hospital insurance. It covers inpatient hospital stays, skilled nursing care, hospice care, and some home health care. This covers you at 80% without any additional insurance.
Part B: This is medical insurance. It covers doctor visits, outpatient care, preventive services, and medical equipment. This covers you at 80% without any additional insurance.
Part C: This is also known as Medicare Advantage. It's an alternative to Parts A and B, and is offered by private insurance companies. Medicare Advantage plans must cover everything that Parts A and B cover, and often include additional benefits like vision, hearing, and dental. This supplements your coverage for Parts A and B.
Part D: This is prescription drug coverage. It helps cover the cost of prescription drugs.
Enrolling in Medicare
Most people are automatically enrolled in Medicare when they turn 65. If you're already receiving Social Security benefits, you'll be automatically enrolled in Parts A and B. If you're not receiving Social Security benefits yet, you'll need to sign up for Medicare during your initial enrollment period. This is a seven-month period that starts three months before your 65th birthday and ends three months after your 65th birthday.
Choosing the Right Plan
Choosing the right Medicare plan can be a little overwhelming. You'll need to consider things like your health needs, budget, and prescription drug needs. You have two options once you have your Medicare Parts A and B:
A Medicare Supplement plan (also known as Medigap) to help cover out-of-pocket costs. You'll also need to enroll in a Part D plan for prescription drug coverage. These plans have an additional premium above your Part B monthly premium.
A Medicare Advantage plan. You'll need to review the different plans available in your area and choose the one that best fits your needs. Part D is included in a medicare advantage plan so there is no need to purchase it separately. Most medicare advantages plan in Utah have no additional premium. They also have additional benefits like dental, vision, gym memberships, etc.
Getting Help
If you're feeling overwhelmed or confused about Medicare you are not alone; there is a reason why full-time agents are necessary. Getting help is the best thing you could do. Medicare is complicated and is always changing. It is hard to keep up! We are independently licensed insurance agents and can walk you through the entire process. We will educate you on all of your options and help you make the best decision for your situation. We will also be here throughout your entire medicare journey to answer your questions you have and help you stay up to date on all the changes.