Are you about to reach that magical age of 65? Are you receiving material making you feel like some decisions need to be made? The information can be confusing, so here are a few things you should know.
Original Medicare is not free. Individuals who meet the work history requirements do not usually pay a monthly premium for Part A coverage. The standard monthly cost for Part B coverage in 2021 is $148.50. Some will pay an extra monthly cost based on their modified adjusted gross income.
Enrolling in Medicare is not automatic. Unless you are collecting Social Security or Railroad Retirement Board benefits or are disabled, you will need to sign up for Medicare. Applying for these benefits can be done online at www.ssa.gov or by calling Social Security at 800-772-1213.
Do I need additional coverage? In addition to Original Medicare, you may want to add a Part D prescription drug plan and supplemental coverage to help pay out-of-pocket costs. Others might prefer a Medicare Advantage Part C “all in one” alternative to Original Medicare. These plans usually include the Part D and use doctors who are in specific plan networks.
Should I enroll in Medicare if I am still working? If you are actively employed and have health coverage through your employer, contact your benefits administrator to ask how your coverage works with Medicare. You might be able to delay your enrollment until your active enrollment ends.
We are just a phone call away and available to assist you in navigating the various options and answer your unique questions.