According to a study, “California’s Medicare population grew 11.3% from 5.8 million in 2016 to 6.5 million beneficiaries in 2021.” Medicare is a well-known health insurance program for people aged 65 or older. People with particular criteria can also apply for Medicare even before reaching 65. Here, they must have disabilities or other chronic diseases, such as cancer, kidney failure, etc.
Remember, this program does not cover all the medical expenses or the cost of most long-term care. It depends on you how you get Medicare coverage. You can buy a Medicare Supplement Insurance (Medigap) policy from a private insurance company if you have Original Medicare (Part A and Part B) coverage.
This blog will help you know the several aspects of Medicare. So you do not feel new while applying for this coverage. As a trusted independent health insurance agency, we would love to guide you in every step. So, look no further and read this blog thoroughly. You may also visit our Facebook page to get further details on our services.
What Will You Have to Explore when You Apply for Medicare?
Here you go!
The Parts of Medicare
Before you apply for Medicare, you must know its parts to understand the process.
- Medicare Part A (hospital insurance): It is original Medicare and helps pay for inpatient care in a hospital or limited time at a skilled nursing facility (following a hospital stay). This part also pays for some home health care and hospice care.
- Medicare Part B (medical insurance) will pay for services, including doctors and other health care providers, home health care, outpatient care, and some preventive services.
Private insurance companies run the other parts, following the rules set by Medicare.
- Supplemental (Medigap) plans will help you pay Medicare out-of-pocket copayments, deductible expenses, and coinsurance.
- Part C or Medicare Advantage Plan includes all benefits and services covered under Part A and Part B.
- Medicare prescription drug coverage or Part D covers the cost of prescription drugs.
Is it Wise to Sign Up For Medical Insurance (Part B)?
You can sign up for Medicare Part A (hospital insurance) and Part B (medical insurance) through our online application. You can turn it down because you must pay a premium for Part B coverage. For more details, visit our Twitter page.
If you are eligible for Medicare at 65, your initial enrollment period begins three months before your 65th birthday. This period includes the month you turn 65 and ends three months after that birthday.
If you do not enroll in Medicare during this phase and then decide to do so later, you will have to pay a heavy premium. Your monthly premium will go up 10 percent every 12 months, delaying the time. However, you may also sign up during a “general enrollment period” from January 1 through March 31.
Special Enrollment Period (SEP)
You may not need to apply for Medicare Part B at age 65 when you have medical insurance coverage under a group health plan based on your or your spouse’s current employment. You may qualify for a “Special Enrollment Period” (SEP). It will let you sign up for Part B during:
- Any month when you remain covered under the group health insurance plan and you or your spouse’s employment continues.
- The 8 months starting with the next month of your group health plan coverage or the employment it gets based on ends, whichever comes first.
What Happens After You Apply?
You probably do not know that the Centers for Medicare & Medicaid Services (CMS) manages Medicare. After getting enrolled in Medicare, the Medicare professionals will send you a Welcome to Medicare packet in the mail with your Medicare card. You will also get a Medicare & You handbook, which comprises vital information about your Medicare coverage choices.
So, you are ready to apply for Medicare, and you can give us a call to get our guidance. We assure you that this process will get completed smoothly, and our professionals will help you comprehend the complicated part of this procedure. So, when you need a certified agent, contact us. You may also take a virtual tour of our Instagram page and collect more details.