Important Ideas You Need to Know About Medicare.

• Look at health coverage you may have now and compare. For example, you may have group coverage from your job if you’re still working, or retiree insurance from a former employer. You’ll want to see how it might fit with Medicare.
• There are two ways to get Medicare:

a. Original Medicare (usually referred to as Part A and Part B) or

b. Medicare Advantage (Part C)

• You will need to choose the method that best fits your needs and lifestyle. Once you’ve made that decision, some parts of Medicare give you several choices of plans and private companies that offer them. You’ll need to do some shopping to find the best choice for you.
• Where you currently reside can make a difference Medicare Part A and Part B are the same throughout the U.S., so it doesn’t matter where you live. The parts of Medicare (Parts C and D) that are offered by private companies, though, are often available only in a specific county, state, or region. You’ll need to find out what’s available in your area. If you move, you may need to change plans and if you travel to another state for any period of time you will need to check with your plan to see how you are or will be covered.
• If you choose Medicare Part A and Part B, you’ll find there are significant gaps in what the program covers. If you are seriously ill, you could pay big bills. To protect themselves from these gaps, many people who choose Medicare Part A and Part B also buy a Medicare supplemental insurance (Medigap) policy. Another alternative is to choose a Medicare Advantage plan, which may also help you avoid these gaps. Please note that Medicare supplement insurance are not Medicare Advantage plans!!!
• Medicare may not cover all of the care you might possibly need. Each part of Medicare has exclusions, or things it doesn’t cover. For example, Part A and Part B don’t cover long-term care.
• Medicare Part D, prescription drug coverage. This coverage is optional. You have two ways to get prescription drug coverage: as part of a Medicare Advantage plan, or as a stand-alone plan to go with your Original Medicare coverage. Make sure you ask the Medicare Advantage plan if drugs are covered and if yes how they are covered and what will you out of pocket cost be.
• Timing is important; don’t be late when you’re choosing Medicare coverage. Just before you turn 65, enrollment windows open. But these windows will close quickly. If you wait until later to join, you may find that you’ll pay more and have fewer choices.
• Always review your choices once a year Once you choose your Medicare coverage, you are not locked into that choice forever. You will have the opportunity to change your choices once a year. Plan to look carefully at what you want each year. Typically you will be able to make changes in October, November or December. Or if you move you may qualify for a mid year plan change. Always call and talk with your health plan or consult with you local Medicare office, depending on your coverage.
• Don’t be afraid to ask for help! Ask for help if you need it. Extra financial help with the costs of Medicare is available to people with little income and few assets. And advice is available to help you make smart choices about coverage, no matter what you income. This is extremely valuable information. Do not hesitate to ask!