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MEDICARE BASICS

(Frequently Asked Questions)

"Are there different parts to Medicare?"

Original Medicare consisted of two parts, A and B.  Today, there are four parts to Medicare that a person needs to be aware of:

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  • Part A - Hospital Coverage

    • ​This comes to you automatically when you turn 65 or have been on disability for over two years.  ​

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  • Part B -- Doctor Coverage

    • You are eligible to apply for this coverage within a seven month window of your 65th birthday unless you will continue working and have group health coverage.  Additionally, if you are on disability (as well as a couple other unique health issues) you will be able to acquire Part B coverage.​

    • ​​There are a lot of variables that can apply to each person's unique circumstance, so we recommend contacting us to make sure that you are in compliance.  ​

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  • Part C -- Medigap (Supplements)/Medicare Advantage Plans

    • Insurance companies offer Medicare-approved Medigap (Supplements) and Advantage Plans to assist in controlling the costs that Medicare beneficiaries have to cover.  Each plan has its own set of pros and cons so identifying which one best fits your needs is where we come along side to assist.

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  • Part D -- Drug Plan

    • As with Part C, Part D is sold by insurance companies either on their own (a stand-alone Prescription Drug Plan) or as a part of an Advantage Plan (MAPD).​

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Allow us the honor of helping you get the coverage that best fits your needs.  Click the button below to give us permission to contact you and begin the process at absolutely no cost to you.

"Am I automatically signed up for Medicare at age 65
or do I have to apply for it?"

The answer is: it depends.

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As stated above, your Part A coverage begins automatically at age 65. 

With regard to Part B there are a variety of scenarios:  

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  • If you began receiving your Social Security Benefits at age 62 you will automatically be mailed your Medicare Part A & B card prior to your 65th birthday.  If you want to go onto Medicare in conjunction with your turning 65, you do not need to do anything.  Your Medicare will begin on the 1st of your birth month and your Part B premium will be taken from your SS benefits.  

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  • If, however, you are receiving your Social Security benefits AND remaining on your employers health insurance past age 65 AND you do not want to begin your Part B (and incurring the monthly charge), you will need to follow the instructions on the card they send you to refuse your Part B and return the card.

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  • If you have NOT taken your Social Security benefits at age 62, you will need to apply for your Part B whenever you choose to go on Medicare (whether at age 65 or when you retire and no longer have employer's group coverage).

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There are some other less common situations.  We highly recommend that you do not risk incurring any Late Enrollment Penalties (LEP) explained below.  Click the button at the bottom to allow us to help you with this process.

"Are there penalties if I do not sign up at the appropriate time?"

Simply put - yes there is.  The federal government requires that Medicare eligible people enroll in Part B and also acquire Part D (a drug plan).  Failure to do so can cause a person to  acquire penalties that remain with you for life.  There are a few exceptions to this rule but we strongly encourage you to contact us and allow us to help you avoid any and all penalties.

"If I continue working after I turn 65, can I remain on my employer sponsored health insurance and not incur a penalty?"

You are allowed to remain on your employer's health insurance plan so long as you are employed.  When you decide to retire, you will then need to not only apply for your Part B coverage, but you will need to use a CMS (Center for Medicare and Medicaid Services) approved employer insurance verification form that we can give you.  This will void the potential of a late enrollment penalty (LEP).

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However, it is our experience that Medicare plans (either Advantage Plans or Medigap plans) are often significantly better than employer plans AND often cheaper.

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To determine your best option, click the button on the bottom of the page.  We will contact you and walk you through your options to determine which option is the best for your needs. 

Did we answer your questions?  Do you have more?  Click on the button below and fire away any questions that you have.  Or let us know that you want us to work with us (remember you pay us nothing) and we will contact you.

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