Has Medicare started to cross your mind? As you think about it, do you find yourself questioning certain things based on all the information you are receiving? We want to make it easier. To help you, we’ve created this guide to help explain Medicare and when you need to enroll as well as provide information about supplemental health insurance and how it can help pay for expenses not covered by Medicare.
First of all, what is Medicare?
It’s the federal health insurance for people who are 65 and older as well as those under 65 with certain disabilities. Medicare has three different parts--Part A, Part B and Part D.
Medicare Part A This part of the health insurance plan pays for your hospital visits. When you turn 65 you should enroll in Medicare Part A.
Medicare Part B This pays for your doctor visits. To receive coverage through Medicare Part B, you need to enroll. Your initial enrollment starts three months before your 65th birthday, includes the month of your 65th birthday and ends three months after your 65th birthday. If you don’t enroll during this initial enrollment period, there is a general enrollment period each year from January 1 through March 31.
Medicare Part D This is the prescription drug plan that helps with prescription drug costs. This is an optional program that you need to apply for.
In addition to Medicare coverage, you can choose to purchase a Medicare supplement plan to fill in the gaps in Medicare Part A and Part B coverage. For example, Medicare Part A and Part B usually cover about 80% of your health care costs. Unity's Medicare Select plan pays the 20% of Medicare-approved charges that Medicare does not pay. The enrollment period for purchasing a Medicare supplement plan is a six month period when you turn 65 or six months from when your enrollment in Medicare Part B is effective.
Learn More about Medicare & Medicare Select
To learn about the Medicare program and the health insurance available to those on Medicare, please read: