Enroll In 2020 Medicare Here
Welcome to MedicareEnrollment.com, the leading source for information and vital healthcare updates on both Original Medicare (Part A and Part B) and Medicare Advantage.
Whether you’re reaching Medicare-age and simply need to get educated about what you should expect under the Medicare program and the approximate costs, or whether you are currently on Original Medicare and are thinking about switching over to Medicare Advantage during the next Annual Enrollment Period, it’s important to do your research. Your health is simply too important to be left with questions and MedicareEnrollment.com is here to provide you the answers that you need.
The Basics of Medicare
Medicare is a government-run health insurance program for those aged 65 and older and people under 65 with certain disabilities and End-Stage Renal Disease. Today, over 10,000 people turn 65 every day and are eligible for Medicare and Medicare is a way to help them pay for their medical expenses. There are 4 major parts to Medicare to choose from which provide you with a variety of coverage options for hospital visits, prescriptions and more. These include:
Parts A and B
These combined parts are known as Original Medicare. Part A (also known as hospital insurance) helps with paying hospital bills. Part B (medical insurance) helps pay for a variety of medical services, including doctor visits, preventative services , and durable medical equipment (DME), among others.
- Most people with Part B pay $109 a month, but new enrollees for 2019 will pay the standard premium amount of $135.50.
- The annual deductible for Part B is $185.
- The Part A inpatient deductible is $1,364 for every benefit period. You’re also responsible for co-insurance fees when you’re in the hospital depending on your length of stay.
- Medicare provides your coverage.
- You pick your doctors, hospitals and other medical providers if accepted by Medicare.
- You’re responsible for deductibles and other out-of-pocket costs, unless they’re covered by Medicare Supplemental Insurance.
Part C of Medicare is known as Medicare Advantage (or MA). These are plans that are approved by Medicare but offered by private insurance companies. Part C plans are another option if you don’t want the traditional Medicare plan. Part C plans cover hospital and doctor visits, but they can also cover prescription drugs, dental care, hearing care, and vision care, among others.
- Part C uses different plan types, such as health maintenance organizations (HMOs) and preferred provider organizations (PPOs).
- Private insurance companies that are approved by Medicare provide coverage.
- The plan specifies doctors, hospitals and providers.
- You may pay more or all of the costs if you pick your own doctors and medical providers.
- You pay a monthly premium.
- You might pay a copayment or coinsurance for covered services.
- Premiums and cost vary depending on the insurance company.
Part D of Medicare comprises private plans that help with the costs of prescription drugs for those who have traditional Medicare (Parts A and B).
- Monthly premiums vary based on the plan. Those with higher incomes may pay more.
- If you made $85,000 or less as an individual or $170,000 or less on a joint tax return, you only pay your plan premium.
Medicare Medical Savings Account (MSA): Medicare also partners with private insurance companies to provide other ways to get medical coverage. These companies may offer Medicare MSA plans, which are types of Medicare Advantage plans. These plans give you more flexibility to pick your providers, doctors and services.
- High-deductible savings plans can be included in Medicare Advantage plans. You must meet a high yearly deductible in order to cover your medical costs.
- The MSA is a special savings account in which Medicare deposits money into an account. You can choose to use money from this savings account to pay for medical care before you meet the deductible.
Use a Group Health Plan instead of Medicare: If you are 65 or older and covered by a group health plan through an employer, spouse, private plan or union, then you can elect to avoid Medicare. However, you may still want to take advantage of some services covered by Medicare, such as drug coverage.
Things to know about Medicare plans
The first thing to note is that Original Medicare (Part A and Part B) does not cover all medical costs. Dental and vision care is not covered by Original Medicare. You must seek alternative insurance to cover these types of medical services, or you may qualify for low-income assistance. But you still pay a premium, copay and deductible for these medical services.
You should enroll in Medicare when you first become eligible due to age unless you still have health insurance through your group plan because there may be consequences for waiting such as higher premiums or underwriting requirements.
How to Enroll in Medicare
If you are interested in learning about and enrolling in a Medicare Part C plan (also called Medicare Advantage), a Medicare Part D plan or a Medigap plan (also called a Medicare Supplement plan) then you may do so by shopping online on your own, which you may start to do here, or you may call (800) 485-6202 to speak to a licensed agent.
If you need to enroll in Original Medicare (Part A and Part B), you must do so through your Social Security Office and may visit Medicare.gov for more information.
There are other health plans, such as Medicare Medical Savings Account (MSA) Plans, Programs of All-Inclusive Care for the Elderly (PACE), Medication Therapy Management (MTM), Demonstrations and Pilot programs and Medicare Cost Plans, to consider that may have benefits that Original Medicare doesn’t offer.