You have questions about Medicare? We have answers. These are five things you should know about Medicare.

1) You are eligible for Medicare if…

If you or your spouse has worked for ten years in Medicare eligible employment. You DO NOT need to be eligible for Social Security Benefits to reap the benefits of Medicare. You also don’t have to be 65, if you have a disability, had permanent kidney failure or a kidney transplant, Medicare has you covered. Part A is usually premium-free, but if you don’t qualify for that benefit it costs $426 per month. Medicare Part B’s premium is $104.90 a month (for most people).

2) You may be automatically signed up for Medicare

If you are currently receiving Social Security, Medicare will sign you up automatically. You will have to opt out of Medicare Part B (general medical) if you are not interested. If you keep your both Part A (hospital) and Part B, Part B will automatically be taken from your benefit amount.

3) Medicare Insurance may be beneficial

  • Part C is an affordable way to get the same benefits as Medicare Part A and B from a private company. Part C, however has a local HMO-type network, and may cost you more in deductibles and co-insurance.
  • Medigap has the same network as Original Medicare and will add extras like 365 additional hospital days, cover coinsurance and deductibles, and might even cover your foreign emergency care, but will generally cost you more per month than an MA plan.*

*We know picking a Medigap plan can feel like a big decision—and sometimes, you don’t know if it’s the right one until you’re already in it. The good news is, there are often ways to make a change. If you’re still within six months of your Part B effective date, switching is easy and guaranteed. After that, rules like the Birthday Rule in some states could open a door. Otherwise, approval may depend on a medical review. You can check your odds with our AI Medigap Underwriting Checker, or just call us—we’ll guide you at no cost.

4) Medigap doesn’t cover Rx

Original Medicare doesn’t cover Rx in most cases. If you want drug coverage you’ll want to sign up for Part D when you are first eligible to avoid a penalty. (Source)

5) The Donut-Hole is closing

Starting in 2025, there are 3 phases of Medicare Part D. While these phases are important to understand, we recommend not dwelling on them too much as the Annual Estimate Drug Cost will factor them into the total. Read all about them here.

Next Steps.
To learn more about Medicare Insurance or Rx plans call the number above or click here to get a Medigap instant quote.