• Persons turning age 65
• Persons with a qualifying Disability and who have been receiving Social Security for 24 months
• Persons with end stage renal disease
Because coverage through original Medicare is NOT all inclusive and includes many gaps in coverage for which you could be responsible, private insurance companies help to bridge those gaps and lower your out of pocket expenses when you need health coverage.
They do that through the following:
• Part C Medicare Advantage
• Part D Prescription Drug plans
• Medicare Supplement or "Medigap" policies
• Various other products like Dental and vision insurance
*Must meet certain conditions before Medicare will cover these items
• Doctors/Specialist office visits
• Ambulance rides
• Radiology and Labs
• E.R./Urgent care Visits
In 2023, you pay:
In 2023, you pay:
As a general rule of thumb you have a 7 month window to apply for Medicare beginning 3 months before your 65th birthday and ending 3 months after.
You may also delay your enrollment into Medicare if you have "creditable coverage" which is coverage that is at least as good as original Medicare. If you have done this, then you may apply anytime prior to retiring or ending your creditable coverage up until 8 months after that coverage ends.
There are several other "special enrollment" opportunities that apply in unique situations. Read here to learn more about those options as well as to see special forms that you may need to fill out or have filled out by your employer. As always please call us and we will guide you through this process and print any forms you may need.
There are many factors to consider when deciding when the best time to apply for Medicare will be.
What a lot of people don't know is that if you choose not to enroll in Medicare when you are first eligible, and you don't have "creditable coverage" or coverage that is at least as good as original Medicare then you will have to pay a late enrollment penalty when you do decide to sign up.
This penalty is different for Medicare Part B and Part D- for a detailed breakdown on Medicare.gov click here. We have also provided a chart to help you understand how the penalties work.
Another important thing to note is that if you do have a penalty there may be a way to get it to go away. Typically these penalties last for as long as you have Medicare, (so a lifetime). However, if your income falls below certain thresholds you may qualify to have the penalty removed. Come and see us and we can help you know if that could be an option for you. We will also help you apply for the subsidies you need.