Summary On Understanding Medicare
Who is eligible?
- Individuals 65 or older
- Individuals receiving social security disability benefits for 24 months
- Kidney failure
Four types of medical coverage:
- Part A – Hospital coverage (cost is free for eligible individuals)
- Part B – Supplemental medical (cost starts at $174.70 a month for 2024)
- Part D – Prescription drug (purchase through private insurance)
- Medicare Advantage Plans
Enrollment:
- Part A & B – automatically enrolled if already receiving social security or railroad retirement.
- If not receiving social security or railroad retirement yet, then you must apply 3 months prior to turning 65 years old.
- Call 1-800-772-1213 or ssa.gov
- Part D – Before signing up for a specific drug plan go to medicare.gov, and click on Health & Drug Plans menu, Find health & drug plans. Put in your medications to see which plan works best for you. You can change this every year.
Supplemental Coverage with Medicare:
- Private Medigap insurance – see different plans on medicare.gov, Health & Drug Plan menu item, click on Find a Medicare Supplement Insurance (Medigap) policy.
- Retirement plan insurance
- Medicare Advantage Care Plans
- TRICARE for Life – retired military and dependents
Important Resources:
- Medicare: 1-800-633-4227
- medicare.gov
- Senior Health Insurance Information Program (SHIP) – help with Medicare & Medigap: 866-552-4464
- Social Security Admin: 1-800-772-1213
- ssa.gov
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