Medicare planning
Medicare can be very complicated to fully understand and we can help sort through all of the confusion. We offer expert level consultation and will provide indepth assistance with the following common questions, and more.
- When Do I Need to Sign Up for Medicare?
- How Do I Sign up for Medicare?
- What is the Difference and Cost Between Medicare Parts A, B, C, D?
- How Do I Choose the Right Medicare Supplement (Medigap Plan)?
- What is the Best Medicare Rx Plan?
- What is the difference between Original Medicare and Medicare Advantage?
Frequently Asked Questions
Medicare is National Health Insurance for people ages 65 and over, people with disabilities, and people with certain illnesses.
The Initial Enrollment Period to sign up for Medicare begins 3 months before you turn 65 and ends 3 months after the month you turn 65 (3-1-3 Rule).
If you did not sign up when first eligible then you may enroll during the General Enrollment Period.
- January 1 – March 31 each year (10% per 12 month penalty applies.)
You can also enroll during Special Enrollment Period during certain life changes such as losing group coverage.
Note: If you are collecting Social Security at age 65, you will automatically be enrolled in Medicare.
If you are still working for a company with 20 or more employees, and have group insurance, you do not need to apply for Medicare.
As long as you do not contribute to an HSA, you can take Medicare Part A.
Online at www.SSA.Gov/medicare (Initial Open Enrollment)
Local Social Security Office or call Social Security at 1-800-772-1213
*For Special Enrollment Period, both employee and employer need to complete enrollment forms.
Part A: Hospital Insurance – Deductibles and copays apply
Part B: Medical Insurance –Pays 80% after $226 deductible
Part C: Medicare Advantage (Medicare benefits through private insurance company)
Part D: Rx Drug Coverage – Approximately 22 plans available in MD
(All pay differently based on prescriptions and pharmacy)
Medicare A: Premium Free for most people
Medicare B: Based on income
Medicare D Rx Plan: Based on plan and income
Use the Medicare calculator (www.medicare.gov). Plans are based on prescriptions and pharmacy. Results will show all plans to find the lowest overall cost (premiums, deductibles, copayments)
You can change Rx plan once a year during open enrollment October 15-December 7.
1% per month penalty applies if you do not sign up when first eligible.
- Long-term care
- Personal Care/Custodial Care
- Routine dental or eye care*
- Hearing aids & exams for fitting them
- Dentures
- Cosmetic surgery
- Routine foot care
Note: These questions only begin to scratch the surface and we encourage you to schedule an appointment for a more indepth overview.
