Medicare Enrollment Guide

TURNING 65 UNDERSTANDING MEDICARE There are 10,000 Baby Boomers aging into Medicare every day for the next ten years. That's a lot of people all of a sudden looking for information about Medicare. Here is a quick explanation of how it all works. You generally qualify for Medicare once you turn 65 and you have worked for 40 If you are already receiving Social Security, you will automatically be signed up for Medicare. Socidl Securnty Check quarters. If you are not receiving MEDICARE INSURANCE Social Security, you will need to sign up for Medicare online or through your local Social Security office. You have 7 months to enroll Look for your Medicare when you age-in: the 3 months before you turn 65, your birth month, and the 3 months after. Card in the mail 3 months before your 65th birthday. Two Ways to Get Your Medicare Original Medicare Original Medicare is one way for you to get Medicare is broken up into four parts and each plays a unique role in your healthcare. Original Medicare includes your Medicare. Parts A, B, and D, and usually a Medicare Supplement. PARTA PART B PART D Covers all things that happen in the hospital. You usually don't pay a premium for Part A. Covers all things that happen in the doctor's office. Helps offset the actual cost of your prescription drugs. Premium varies. The 2013 Part B premium for most people is $99.90. The 2012 national average premium for a Part D drug plan is $31.08 Source: Medicare.gov 10 Types of Supplements Parts A & B only cover about 80% of your medical expenses. You are responsible for the remaining 20%. The 10 Medicare Supplement plans to choose from (each with different coverage amounts) are listed below. Medicare Supplements Insurance (Medigap) Plans Benefits A B D K Cost will vary depending on the supplement you choose and what Medicare Part A 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% coisurance and hospital costs (up to an additional 365 days after Medicare benefits are used) company you buy from. However, the Medicare Part B 100% 100% 100% 100% 100% 100% 50% 75% 100% 100% coinsurance/copayment plans a company offers must meet the standards listed in the chart. Blood (first 3 pints) 100% 100% 100% 100% 100% 100% 50% 75% 100% 100% Part A hospice care coinsurance/copayment 100% 100% 100% 100% 100% 100% 50% 75% 100% 100% Skilled nursing facility 100% 100% 100% 100% 50% 75% 100% 100% care coinsurance Medicare Part A 100% 100% 100% 100% 100% 50% 75% 50% 100% deductible Medicare Part B 100% 100% deductible Medicare Part B excess 100% 100% charges Foreign travel amereer emergency (up to limits) 100% 100% 100% 100% 100% 100% Source: Medicare & You Handbook 2013 The Second Way to Get Your Medicare Part C of Medicare, also called Medicare Advantage, rolls everything into one, and is a second way to get your Medicare. PART C BENEFITS OF PART C You get the convenience of a single plan • Many plans include a prescription drug plan Extra Benefits • You have access to a network of doctors and hospitals Part D • Many plans offer additional benefits such as dental, vision, hearing, and preventative care Part A Part B Annual Review There is no one-size-fits-all when it comes to your Medicare options. For some people, a Medicare supplement is the best route. For others, there is a Medicare Advantage plan that is more appropriate. And since premiums and plan coverage changes year to year, it is important to review those changes with your insurance agent. Tired of reading? BlueGoose Watch our two-minute Medicare 101 video for more information. Visit www.BlueGooseMaine.com. Insurance. Personalized. We're available Our videos are pretty cool. You should check to answer questions: them out anyway! 855-353-7303 Follow Us: in -|