What is Medicare?
Medicare is many things — quality, reliable, affordable. When you enroll, you’re plugged into something great. But what exactly is it? Let’s dive in. Medicare is, in short, health insurance for eligible individuals. It is affordable, with plenty of coverage to keep you happy and secure whether you’re retired, disabled, or have End-Stage Renal Disease (ESRD).
Health Insurance for Retirees and the Disabled
Medicare is a federal health insurance program to help cover those who cannot receive coverage through an employer. This limits eligibility to select groups.
You can enroll if you have End-Stage Renal Disease (ESRD). With Medicare, ESRD patients will receive specific coverage beneficial to their condition that they would not be able to find otherwise.
You can also enroll if you’ve received 24 months of Social Security disability payments. If you’re out of work due to a disability, you may be living without any substantial health insurance, which could spell financial hardship. Instead, you’ll receive low-cost, necessary coverage.
Finally, Medicare is insurance for seniors. When you turn 65, you can enroll in any Medicare plan of your choice. This includes Original Medicare (Parts A and B), Medicare Advantage (Part C), Part D, or a Medicare Supplement.
Low-Cost, High-Coverage
What are these Medicare plans, and how much do they cost? Part A covers short-term emergency hospital and nursing home care. You will likely only pay the deductible, which is currently $1,632 per benefit period.
Part B covers general medical needs approved by a Medicare licensed healthcare provider. It has a current $174.70 premium and a $240 deductible.
Part C, or Medicare Advantage, provides all of the coverage included in Original Medicare while coordinating your care to recurve lower-cost care.
Part D covers prescription drugs. It may even be included in Medicare Advantage.
Supplements cover many of the costs of Original Medicare and then some, including deductibles.
Ready to Enroll?
When you’re three months from turning 65, you’ll start your Initial Enrollment Period (IEP). This lasts 7 months and is your best opportunity to enroll in any of the coverage you want. You don’t have to enroll right away if you’re still covered by your employer, but it’s highly recommended.
If you miss the IEP, you can enroll during the General Enrollment Period (GEP) from January 1 through March 31. You may, however, face some late fees and difficulty enrolling.
Once you’ve enrolled in Medicare, you can make changes to your coverage during the Annual Enrollment Period (AEP) from October 15 through December.
Have Medicare Questions?
We’re Here to Help!
If you’re interested in learning more about Medicare, we can provide you with the answers you’re looking for. To learn more about how we can help you, call Shepherd Health and Wellness Benefits today.
The purpose of this website is to provide general information on Medicare, Medicare Advantage, Medicare Supplement, Medicare Part D, and other health insurance related information. At Shepherd Health and Wellness Benefits, we believe that everyone should have access to the information needed to make an informed, confident decision about their healthcare. Calling the number on this site will connect you to a licensed insurance agent.
Shepherd Health and Wellness Benefits has researched government websites and publications in an effort to provide you with information. We believe the sources we use to provide information to be reliable. However, we do not guarantee or warrant the accuracy of this information. All materials on this site are for informational purposes only. The contents of this website are subject to change without notice. If you would like to find more information about the Government Medicare program, please visit the Official U.S. Government website for Medicare, located at medicare.gov.
Shepherd Health and Wellness Benefits is not connected with, affiliated with, or endorsed by the United States government, the Federal Medicare program, or a state agency. Medicare has not reviewed nor endorsed this information. Products sold by our team are backed by the insurance company’s guaranteed association and underwriting powers.
We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.