How to Apply for Medicare and Who Qualifies

 

Medicare is a federal health insurance program for people 65 and older, people with certain disabilities, and people with end-stage renal disease (ESRD). It is the single largest health insurance program in the United States, covering over 60 million people.

Who Qualifies for Medicare?

You may be eligible for Medicare if you are:

• Age 65 or older
• A person with a disability
• A person with ESRD

How to Apply for Medicare

You can apply for Medicare online, by phone, or by mail. To apply online, you will need to create an account at www.medicare.gov. To apply by phone, you can call 1-800-772-1213. To apply by mail, you can download an application form from the Medicare website or by calling 1-800-772-1213.

When to Apply for Medicare

You can apply for Medicare 3 months before you turn 65. This is called your Initial Enrollment Period (IEP). If you apply during your IEP, you will be covered on your 65th birthday.

If you do not apply for Medicare during your IEP, you can still apply later. However, you may have to pay a late enrollment penalty. The late enrollment penalty is 10% of the monthly premium for each 12-month period that you were eligible for Medicare but did not enroll.

What Are the Different Parts of Medicare?

Medicare has four parts:

• Part A (Hospital Insurance): This part covers inpatient hospital care, skilled nursing facility care, home health care, and hospice care.
• Part B (Medical Insurance): This part covers doctor visits, outpatient care, preventive services, and some prescription drugs.
• Part C (Medicare Advantage Plans): These plans are offered by private insurance companies. They typically combine Parts A and B, and may also include prescription drug coverage.
• Part D (Prescription Drug Coverage): This part covers prescription drugs.

How to Choose the Right Medicare Plan for You

There are many different Medicare plans to choose from, so it can be difficult to know which one is right for you. Here are a few things to consider when choosing a Medicare plan:

• Your budget: Medicare plans have different premiums, deductibles, and copays. It is important to choose a plan that fits your budget.
• Your health needs: If you have chronic health conditions, you may need a plan that offers more comprehensive coverage.
• Your location: Some Medicare plans only offer coverage in certain areas. It is important to choose a plan that is available in your area.

Talk to your doctor and a Medicare insurance agent to help you choose the right Medicare plan for you.