What Happens at 65 with Medicare

Understanding Medicare Parts

When you turn 65, you become eligible for Medicare, a crucial part of planning for your future health care needs. Medicare is divided into different parts:

• Part A covers hospital stays and inpatient care.
• Part B covers outpatient care, including doctor visits and preventive services.
• Part C (Medicare Advantage) offers an alternative way to receive your Medicare benefits through private insurance companies.
• Part D provides coverage for prescription drugs.

The Importance of Turning 65

The month you turn 65 marks an important milestone. It’s the time to evaluate your health insurance needs and make critical decisions regarding your Medicare Plan. Your eligibility for Medicare begins at this age, and it’s essential to understand the options available to you.

Signing Up for Medicare

When you are first eligible for Medicare, it’s crucial to sign up for Medicare during your initial enrollment period. This period starts three months before the month you turn 65 and ends three months after. During this time, you can enroll in Original Medicare (Parts A and B) without facing any penalty.

Medicare Part B Enrollment

Medicare Part B is essential for outpatient care. If you do not have other health coverage, it’s important to enroll in Part B during your initial enrollment period to avoid late enrollment penalties.

Medicare Advantage Plans

Instead of Original Medicare, you might consider a Medicare Advantage Plan (Part C). These plans are offered by private insurers and often include additional benefits like vision, hearing, and dental coverage.

Still Working at 65

If you are still working at 65 and have a group health plan through your employer, you might have different options. You may not need to sign up for Medicare immediately if your employer’s plan is credible.

Eligibility and Enrollment

To be eligible for Medicare, you must be a U.S. citizen or a permanent resident who has lived in the U.S. for at least five years. You may also qualify if you receive social security benefits or railroad retirement board benefits.

Enrolling in Medicare

To enroll in Medicare, you can apply online, visit your local Social Security office, or call Social Security. If you receive social security or railroad retirement benefits, you may be automatically enrolled in Medicare Parts A and B.

Medicare Coverage and Benefits

The medicare benefits you receive depend on the parts you enroll in. Part A coverage usually comes with no premium if you have worked and paid taxes long enough. Part B requires a monthly premium, which can vary based on your income.

We’re Here to Help

Understanding your Medicare coverage options when you turn 65 can be overwhelming. At Green Insurance Agency, we’re here to help you make the best decisions for your health care needs. Call us today at 904-717-1176 to speak with one of our friendly agents. We are located in Orange Park, Florida, and look forward to assisting you with your Medicare journey.