Medicare 101
Additional Information
Initial Enrollment Period:
Upon turning age 65, Medicare Part A (Hospitalization) is typically provided at no cost as a result of an individual's
contribution over a period of 40 quarters (Maximum of 4 quarters per year). Also, you can sign up for Part B (Doctors and Outpatient Services) but you will have a monthly charge.
It is of Critical Importance to apply for Part B coverage within the Initial Enrollment Period (IEP) time frame. For eligible individuals, you have a total of 7 months: 3 months before, the month of, and 3 months after turning 65 without being subject to a penalty along with a period of no coverage.
One notable exception is those who are till employed and that continue to be covered by an employer sponsored health
plan, will likely not need to sign up for the Part B coverage.
Original Medicare
• Original Medicare includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).
• You can join a separate Medicare drug plan to get Medicare drug coverage (Part D).
• You can use any doctor or hospital that takes Medicare, anywhere in the U.S.
• To help pay your out-of-pocket
costs in Original Medicare (like your 20% coinsurance), you can also shop for and buy supplemental coverage.
Medicare Advantage
• Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage. These “bundled” plans include Part A, Part B, and usually Part D.
• In most cases, you can only use doctors who are in the plan’s network.
• In many cases, you may need to get approval from your plan before it covers certain drugs or services.
• Plans may have lower out-of-pocket costs than Original Medicare.
• Plans may offer some extra benefits that Original Medicare doesn’t cover—like vision, hearing, and dental services.
Note: In order to be eligible for either Medicare Supplement or Medicare Advantage Plan, you must be signed up for Part B.
For Part B sign up you can go online to SSA.GOV or call 800-772-1213
