If you are 65 and receiving Social Security retirement benefits or Railroad Retirement benefits, you will be automatically enrolled in both Medicare Part A and Part B.
You do not need to contact anyone. You will receive a package in the mail three months before your 65th birthday with your new Medicare card and a letter explaining how Medicare works and that you have been automatically signed up for both Medicare Part A and Part B.
The letter will also explain that your monthly Part B premium will be automatically deducted from your Social Security check or railroad retirement check beginning the month your coverage begins. You will be given the option to turn down Part B.
Once you receive your Introduction to Medicare package, you have some decisions to make. That’s when we come in!
While Medicare covers most healthcare expenses, it doesn’t cover everything. Medicare beneficiaries are responsible for a number of copayments and deductibles, which can easily add up to thousands of dollars. If all you have is Original Medicare, you’ll need to pay these costs out-of-pocket.
As of 2015, there are 10 Medicare Supplement plans that are labeled by a letter, like Plan A or C. These plans are standardized across all insurance companies. This mean you’ll get the exact same benefits buying a Plan A from any company. However, the amount you’ll pay per month in premiums and customer service will be different depending on which company you choose.
These plans only cover the copayments and deductibles from Medicare. If you don’t already have creditable prescription drug coverage, you’ll need to buy a separate stand-alone Medicare Part D Prescription Drug Plan to cover the costs of your medications. Also, Medicare Supplement plans don’t offer extra benefits like dental, vision, or hearing coverage beyond the basics already provided by Medicare.
For more information on Medicare Supplements, please contact us today!
Spartan Insurance Group 