Medicare 101: Part 1
john • December 16, 2022
In this article, which is Part 1 of 2, we will go over the basics of Medicare and what you need to know about Medicare.
You’ve probably heard of Medicare Part A, Part B, Part C, and Part D, but what do they mean? Don’t worry – we will go over it all!
One of the first things to know about is the “Medicare and You Handbook.” This is a free resource created by the government and is available to anyone, for free. It includes a summary of Medicare Benefits, your rights and protections, as well as available health and drug plans. Also, it has answers to frequently asked questions about Medicare. All in all, the “Medicare and You Handbook” is a great resource to have at hand as you approach Medicare and begin learning about it
There are a few ways to get your handbook:
One important thing to note, is that by being informed about your healthcare, you will be able to avoid any coverage gaps. A coverage gap is exactly what it sounds like – a period of time in which you don’t have any sort of insurance coverage. In the event of you needing to use medical services, or a hospital visit, you will be responsible for all costs.
For anyone that chooses to have KEYWAVE DIGITAL help them with their healthcare, we will always make sure you are aware well before any potential coverage gaps. We make sure you are covered at all times. No one likes surprises when it comes to their healthcare, and we take extra care to keep you informed and ready at all times.
Original Medicare is Medicare Part A and Part B. Part A is the hospital insurance part of Medicare. This covers the room and board in the hospital, as well as skilled nursing .
Part B of Original Medicare is the medical coverage of Medicare, and this pays up to 80% toward your bills of the Medicare approved amount.
One important thing to note is that Original Medicare Parts A and B do not cover the prescription drugs you might need. Medicare Part D Prescription Drug plans exist to cover the medications that you would get prescribed and purchase from a pharmacy.
A good option to Original Medicare Part A and B is a Medicare Advantage plan (Also known as Part C.) Part C, Medicare Advantage Plans are plans that include Part A and Part B, and many times Part D as well. In the case that your Medicare Advantage plan doesn’t include a Part D Prescription Drug Plan, you can always add one to it to get that coverage.
The most common answer to this question is that the best time to enroll is during the Initial Enrollment Period, which is based on when your 65th birthday is. The Initial Enrollment Period starts 3 months before your 65th birthday, includes your birth month, and extends to 3 months after your birthday.
If you choose not to enroll in a Medicare Advantage or Part D plan during the initial enrollment period, you can always change plans or get a new plan during the Annual Enrollment Period (AEP), which starts October 15th and lasts until December 7th each year.
During AEP, you can change or add a plan, but they won’t start coverage until January 1st. If you choose to disenroll from a Medicare Advantage plan and switch back to original Medicare, you can do so from January 1st to February 14th.
You may have heard of the Open Enrollment Period, which lasts six months. It begins on the first day of the month in which you turn 65, and enrolled in Part B. Some people choose to delay Part B enrollment, but you can always enroll later in it.
When your Part B coverage does start, you can apply for a Medicare Supplement plan from 3-6 months before you need the coverage to start. This will make sure you have the coverage you need, when you need it.
That is it for Part 1. In Part 2, we’ll go over what Medicare actually pays for, and what you will have to pay. In the meantime, we hope you enjoyed this article. And if you ever have any questions, please don’t hesitate to send them to us via email, phone call, or the contact us button above.
You’ve probably heard of Medicare Part A, Part B, Part C, and Part D, but what do they mean? Don’t worry – we will go over it all!
One of the first things to know about is the “Medicare and You Handbook.” This is a free resource created by the government and is available to anyone, for free. It includes a summary of Medicare Benefits, your rights and protections, as well as available health and drug plans. Also, it has answers to frequently asked questions about Medicare. All in all, the “Medicare and You Handbook” is a great resource to have at hand as you approach Medicare and begin learning about it
There are a few ways to get your handbook:
- It is sent to all Medicare households each fall (usually late September)
- Log-on to mymedicare.gov and receive it via email.
- Call Medicare at 1-800-MEDICARE and have them send it to your home address
- Go to your local Social Security office and get one
One important thing to note, is that by being informed about your healthcare, you will be able to avoid any coverage gaps. A coverage gap is exactly what it sounds like – a period of time in which you don’t have any sort of insurance coverage. In the event of you needing to use medical services, or a hospital visit, you will be responsible for all costs.
For anyone that chooses to have KEYWAVE DIGITAL help them with their healthcare, we will always make sure you are aware well before any potential coverage gaps. We make sure you are covered at all times. No one likes surprises when it comes to their healthcare, and we take extra care to keep you informed and ready at all times.
You may have heard of Original Medicare before. Original Medicare? What is that?
Original Medicare is Medicare Part A and Part B. Part A is the hospital insurance part of Medicare. This covers the room and board in the hospital, as well as skilled nursing .
Part B of Original Medicare is the medical coverage of Medicare, and this pays up to 80% toward your bills of the Medicare approved amount.
One important thing to note is that Original Medicare Parts A and B do not cover the prescription drugs you might need. Medicare Part D Prescription Drug plans exist to cover the medications that you would get prescribed and purchase from a pharmacy.
A good option to Original Medicare Part A and B is a Medicare Advantage plan (Also known as Part C.) Part C, Medicare Advantage Plans are plans that include Part A and Part B, and many times Part D as well. In the case that your Medicare Advantage plan doesn’t include a Part D Prescription Drug Plan, you can always add one to it to get that coverage.
When should I enroll in these plans?
It depends – there are a few Enrollment Periods you should know about. If you aren’t sure about what is included in Medicare Advantage or Supplements, you can reach about them here. Medicare Advantage and Medicare Supplements .The most common answer to this question is that the best time to enroll is during the Initial Enrollment Period, which is based on when your 65th birthday is. The Initial Enrollment Period starts 3 months before your 65th birthday, includes your birth month, and extends to 3 months after your birthday.
If you choose not to enroll in a Medicare Advantage or Part D plan during the initial enrollment period, you can always change plans or get a new plan during the Annual Enrollment Period (AEP), which starts October 15th and lasts until December 7th each year.
During AEP, you can change or add a plan, but they won’t start coverage until January 1st. If you choose to disenroll from a Medicare Advantage plan and switch back to original Medicare, you can do so from January 1st to February 14th.
You may have heard of the Open Enrollment Period, which lasts six months. It begins on the first day of the month in which you turn 65, and enrolled in Part B. Some people choose to delay Part B enrollment, but you can always enroll later in it.
When your Part B coverage does start, you can apply for a Medicare Supplement plan from 3-6 months before you need the coverage to start. This will make sure you have the coverage you need, when you need it.
That is it for Part 1. In Part 2, we’ll go over what Medicare actually pays for, and what you will have to pay. In the meantime, we hope you enjoyed this article. And if you ever have any questions, please don’t hesitate to send them to us via email, phone call, or the contact us button above.
Are you curious about how your current Medicare plan may change next year? This blog post will provide you with important information about potential changes and how to prepare for them. Learn about the different factors that can affect your plan, as well as tips on how to make sure you are covered in the event of any changes. Keep up to date with the latest developments in Medicare and make sure you are prepared for any changes that may come.
Confused about how to compare Medicare Advantage plans? This blog post will guide you through the process of researching and comparing plan options. Learn about the different types of Advantage plans available, as well as some key criteria to consider when making your decision. Find out how to compare plan costs, coverage, and other important factors to make sure you choose the right plan for you.
Original Medicare provides important coverage for medical services and supplies, but it does come with some gaps in coverage. This blog post will provide an overview of the gaps in coverage and how to bridge them. Learn about the various cost-sharing requirements and supplemental insurance plans that can help to fill any coverage gaps. Find out how to make sure you have the coverage you need and make informed decisions about Original Medicare.
Medicare is an important source of health insurance coverage for many people in the United States, but it can be confusing to understand the various costs associated with it. This blog post provides an overview of the costs and fees associated with Medicare, Part 1. Learn about the premiums and deductibles you'll need to pay, as well as the types of cost-sharing you may be responsible for with Original Medicare. Discover how to save money by supplementing your Medicare coverage with a Medicare Advantage plan.
In part two of this blog series, we'll provide an in-depth look at the costs associated with Medicare. Learn about the different types of out-of-pocket expenses, such as copayments, coinsurance, and deductible amounts that you may be responsible for when using Original Medicare. Discover how to supplement your coverage with a Medicare Advantage plan and how to find cost-saving strategies. Find a comprehensive overview of the various costs associated with Medicare and how to make informed decisions about your coverage.
Joining Medicare when you reach the age of 65 is a big decision. There are many factors to consider, such as when you should sign up for Parts A and B, how to supplement your coverage with a Medicare Advantage plan, and how to save money on costs. This blog post provides an overview of when you should join Medicare and how to make an educated decision about your coverage. Learn about the different parts of Medicare, the enrollment process, and the costs associated with the program.
Discover how to get help with Medicare costs. This blog post provides information on insurance programs such as Medicaid and Medicare Savings Programs that may be able to provide financial assistance. We will also cover tips on how to save money on prescription drugs and other costs associated with Medicare. Get a comprehensive overview on the various options available to help reduce your out-of-pocket costs for Medicare.
Learn how to get the most out of your Medicare drug plan with our comprehensive guide on using it for the first time. Maximize your benefits and reduce costs today.
Discover everything you need to know about the Medicare Annual Election Period (AEP) and how it affects your Medicare coverage options. Learn how to make informed decisions during AEP.
Explore the world of Medicare Supplements and understand what they can offer you. Find out what you need to know to make an informed decision on your Medicare coverage.