Frequently Asked Questions:
We want to take the time to answer some questions we are frequently asked from people new to Medicare, just like you.
Does Medicare cover all my healthcare expenses?
Medicare insurance on average pays approximately 80% of the bills and whatever is left over is your responsibility to pay. This is commonly known as the ‘gaps’ in Medicare. We will show you how to cover these gaps with Medigap Insurance.
Do I really need Medicare?
Maybe not. Many folks these days continue to work past the normal retirement age of 66. If your employer or union offers healthcare coverage you may want to delay your Medicare benefits. When you do finally decide to retire you have an eight month window to sign up for Medicare. Check with your employer to see if can remain on the group health plan.
How much will Medicare Cost?
The good news is that if you have worked 10 years and paid taxes through payroll your Medicare Part A is premium free. The Medicare Part B premium is a little more complicated as it is based on your income. For now, let’s just say that for most people the Part B premium in 2018 is $134 per month.
Am I eligible for Medicare?
If you received a Medicare card in the mail then you are eligible for full or partial Medicare benefits. This depends on whether you are drawing social security benefits or not. If you are still working and approaching age 65 chances are you only have Medicare Part A benefits.
If you are under age 65 and are receiving Social Security Disability Income for the last 24 months, then you also become eligible for full Medicare benefits.
When do I sign up for Medicare?
If you are receiving Social Security retirement benefits, then you will be automatically enrolled in Part A and Part B of Medicare. The effective date will be the first day of the month you turn 65. If not, you must contact Social Security to sign up for Part B. If you are continuing to receive health care insurance through your employer or union in addition to drawing Social Security retirement benefits, then you must inform Medicare to delay your enrollment in Part B.