Are you one of the 10,000 Baby Boomers turning 65 everyday? Have you started getting your Medicare in order or have you started to get letters in the mail talking about how so many people can "help" get you ready for Medicare? Some of the most popular questions in our office revolve around Medicare and what people need to have when they begin the talk of beginning Medicare.
Medicare is made up of four (4) main parts, parts A,B,C and D. Part A, is the portion of Medicare that helps pay for any hospital visits that may occur after you begin Medicare. If you have paid in 40 or more quarters of employment you have earned a Part A premium of $0. Part B, involves any Doctor or Clinic visits, unless you earn $170,000 or more as a couple your monthly premium will be $135.50 to obtain Part B coverage. Part C, covers Medicare Health Plans including HMO (Health Maintenance Organization), PPO (Preferred Provider Organization), PFFS (Private Fee For Service) and may include "D" coverage. Part D if your Prescription Drug coverage to help cover portions of the prescription drugs you may be taking or will prescribed in the future.
You can begin Medicare coverage on the first day of the month you turn 65 unless you have a birthday on the first day of the month then it gets pushed ahead to the month before you turn 65. So when should you start talking about Medicare? You can start the education process whenever you would like but we encourage you to start at least 60 day our or 90 if you want to be on the safe side.
About one year before you turn 65 your mailbox will swell with mail from people wanting you to sign up for Medicare with their help or using their service, leave those alone! Many of those are mass production insurance agents and lead generating services, Medicare will not contact you about getting onto Medicare. The only way Medicare will take care of itself is if you are currently on Social Security before you are eligible for Medicare. In this case, you will automatically be enrolled in Part A and B and will receive your card roughly 100 days prior to its effective date otherwise you need to enroll into Medicare through Social Security locally or online.
It's going to seem confusing, you're going to have lots of information thrown at you but that is what we do everyday so don't get flustered we will help you through it, answer questions, make phone calls, whatever we need to do to help your piece of mind.
For more information, feel free to call the office at 605-692-4722 or contact us through the website www.insurance4sd.com.