How does Medicare work when you turn 65

How does Medicare work when you turn 65.

Medicare is a government health insurance program that helps cover the cost of your medical care. It is available to people who are 65 years old or older, certain younger people with disabilities, and people with end-stage renal disease (ESRD).

Medicare has two main parts: Part A and Part B. Part A covers inpatient hospital care, skilled nursing facility care, home health care, and hospice care. Part B covers outpatient services, such as doctor visits, preventive care, and medical supplies.

You can sign up for Medicare during your Initial Enrollment Period (IEP). The IEP is a seven-month window around your 65th birthday. You can sign up for Medicare during the three months before your birthday, the month of your birthday, or the three months after your birthday.

If you sign up for Medicare during the IEP, your coverage will start the month you turn 65. If you sign up outside of the IEP, your coverage will start the month after you sign up.

There are a few different ways to sign up for Medicare. You can sign up online, by phone, or by mail. You can also sign up in person at your local Social Security Office.

When you sign up for Medicare, you will need to provide some basic information, such as your name, address, and Social Security number. You will also need to choose a Medicare plan. There are a variety of Medicare plans available, so it is important to compare plans and choose one that best meets your needs.

Once you have chosen a Medicare plan, you will need to pay a monthly premium. The amount of your premium will depend on the plan you choose. You may also have to pay a deductible and coinsurance.

Medicare is an important part of your health care coverage. It can help cover the cost of your medical care and give you peace of mind. If you are turning 65 soon, be sure to sign up for Medicare.

Here are some additional tips for applying for Medicare:

• Be prepared. Before you apply, gather all of the necessary documentation, such as your Social Security number, birth certificate, and proof of income.
• Apply early. The earlier you apply, the sooner your coverage will start but usually three months from your 65th birthday will work.
• Compare plans. There are many different Medicare plans available, so it is important to compare plans and choose one that best meets your needs. Your two options will be original Medicare, a supplement, and a drug plan. The other option would be Medicare Advantage.
• Be patient. It can take some time to process your application, so be patient and wait for a decision from Social Security

If you have any questions about Medicare, you can contact the Social Security Administration at 1-800-722-6030.

Here are some of the benefits of Medicare:

• Medicare covers a wide range of medical services. This includes inpatient hospital care, skilled nursing facility care, home health care, hospice care, doctor visits, preventive care, and medical supplies.
• Medicare is available to everyone who is 65 years old or older. You do not need to have a certain job or income to be eligible for Medicare.
• Medicare is a reliable source of health insurance. Medicare has been around for over 50 years, and it is a well-established program.
• Medicare can save you money on health care costs. Medicare can help you cover the cost of your medical care, which can save you money in the long run.

Here are some of the drawbacks of Medicare:

• Medicare does not cover everything. There are some medical services that are not covered by Medicare, such as dental care, vision care, hearing care, over the counter items, and long-term care.
• Medicare can be expensive. The monthly premium for Medicare Part B is $164.90 in 2023. You may also have to pay a deductible and coinsurance. In addition, for high income individuals, you may have to pay a Part B IRMAA
• Medicare can be confusing. There are many different Medicare plans available and it can be difficult to choose the right one for you.

Overall, Medicare is a valuable resource for people who are 65 years old or older. It can help cover the cost of your medical care and give you peace of mind. If you are turning 65 soon, be sure to sign up for Medicare.