Turning 65 years old for most people means they are finally eligible to enroll in Medicare. Original Medicare is a federal government program that provides health coverage for those 65 years of age and older or benefits to those who are disabled and meet the Social Security Administrative definition of disability.
There are certain requirements that must be met to qualify for Medicare. You must have 40 work credits or have a disability that is determined to be a covered disability under Social Security standards. Obtaining these work credits occurs when you work for a minimum of 10 years or 40 quarters. The credits are also determined by the amount of money you earn during your working years.
How to Automatically Enroll in Medicare
Most of the time, you will be automatically be enrolled in Medicare when you turn 65. If you are younger than 65, you can apply to enroll in Medicare at the same time you are applying for Social Security benefits.
What Are the Different Parts of Medicare?
Original Medicare is made up of Part A and B. Part A is the portion of the coverage that covers health services while you are in the hospital. Part B covers doctor visits and outpatient services. When you enroll in Medicare, you sign up for Part A and B, and you can elect to sign up for Part C. Part C is optional; however, this coverage can be very useful. Medicare Part C provides additional benefits that can include dental benefits, vision benefits, and prescription drug benefits.
This coverage is provided through a private health insurance company, and it will take up some of the price difference in your coverage. Original Medicare pays about 80@ of your healthcare bills, so the other 20% is up to you.
Medicare Advantage and Medigap Coverage
A good Medicare Advantage plan will cover the difference between what Original Medicare covers and the portion you are responsible for as a Medicare recipient.
Some Medicare recipients might elect to simply add a stand alone prescription drug plan to their Original Medicare. Medigap is another option that is available to those who enroll in Medicare. This gap coverage makes up the difference between what Original Medicare pays and the cost of your health services.
If you are new to Medicare, you probably have many questions about Medicare and the enrollment periods. There are a few different parts of Medicare. You have Original Medicare that consists of Medicare Part A and B. There is Part C, also known as Medicare Advantage. This coverage is provided by a private health coverage company.
The Different Enrollment Time Periods for Medicare
There is initial enrollment, this is when you first become eligible for Original Medicare. General Enrollment in Medicare starts January 1-March 31 each year. When you sign during this time period, your coverage becomes effective July 1 of that same year. It is important to enroll in Medicare during the general enrollment or open enrollment.
Special Enrollment period available for the working and covered by a healthcare plan or they may be covered by their spouse’s healthcare coverage. You will have a period of time when your current healthcare coverage ends or you stop working to enroll in SEP. And two full months to sign up after the coverage ends.
You can qualify for Medicare if you meet the SSA definition of a covered disability, have ALS, or ESRD. Once you start receiving Social Security benefits, you will be covered by Medicare. 24 months coverage after you start receiving your SSA Benefits.
You will have certain time periods during the year when you can make changes. The Annual Election Oct 15 through Dec 7.Once you make a change during this time, your coverage will begin Jan 1.
There are different things that can qualify you for the Special Enrollment Period.
You are eligible for a Medicaid Plan and you lose your eligibility.
When you move out of the Medicare service plan area. You lived in a nursing home or moved out of one. In instances of these special situations, you can enroll in Medicare.