Medicare

How to Sign Up for Original Medicare

Original Medicare is a federal health insurance program for people 65 and older, people with certain disabilities, and people with end-stage renal disease (ESRD). It has two parts:

  • Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
  • Part B covers doctor visits, outpatient care, medical supplies, and preventive services.

To sign up for Original Medicare, you can:

  • Apply online at the Social Security website.
  • Call the Social Security Administration at 1-800-772-1213.
  • Visit your local Social Security office.

If you are already receiving Social Security benefits, you will automatically be enrolled in Part A. You will need to sign up for Part B separately.

When to sign up for Original Medicare

You can sign up for Original Medicare during the following times:

  • Initial Enrollment Period (IEP): This is a seven-month period that starts three months before your 65th birthday, includes the month of your birthday, and ends three months after your birthday.
  • General Enrollment Period (GEP): This is a four-month period that runs from January 15 to March 31 each year.
  • Special Enrollment Period (SEP): If you have a qualifying event, such as a change in income, a move, or a loss of other health insurance, you may be able to sign up for Medicare during a Special Enrollment Period.

Cost of Original Medicare

Part A is premium-free if you or your spouse has worked and paid Medicare taxes for at least 40 quarters (10 years). If you don’t have enough work credits, you will have to pay a monthly premium.

Part B has a monthly premium of $174.20 in 2023. You may also have to pay a yearly deductible of $235.

Medicare Supplement Insurance

Medicare Supplement Insurance, also known as Medigap, can help you pay for some of the costs that Original Medicare doesn’t cover, such as copays, deductibles, and coinsurance. There are 10 different Medigap plans available, each with its own set of benefits.

Medicare Advantage Plans

Medicare Advantage Plans are private health insurance plans that offer all of the benefits of Original Medicare, plus additional benefits, such as prescription drug coverage. There are many different Medicare Advantage Plans available, so you can choose one that fits your needs and budget.

Choosing the Right Medicare Plan

There are many factors to consider when choosing a Medicare plan. You will need to think about your health needs, your budget, and your lifestyle. You may also want to talk to a Medicare specialist to get help choosing the right plan for you.

More information

For more information about Original Medicare, please visit the Social Security website or call the Social Security Administration at 1-800-772-1213.

What is Medicare Part D?

Medicare Part D is a prescription drug plan offered by private companies that contract with Medicare. Medicare Part D is optional, but it is a good idea to consider enrolling if you take prescription drugs.

Medicare Part D plans have monthly premiums, which vary by plan. You may also have to pay copayments or coinsurance for covered drugs.

Medicare Part D plans have coverage gaps, called “donut holes.” The donut hole is a period of time when you have to pay more for your prescription drugs. The donut hole starts after you and your plan have spent a certain amount of money on covered drugs. In 2023, the donut hole starts after you and your plan have spent $4,435 on covered drugs.

Once you reach the donut hole, you will pay 25% of the cost of covered drugs until you reach the catastrophic coverage phase. In 2023, the catastrophic coverage phase starts after you and your plan have spent $7,050 on covered drugs. In the catastrophic coverage phase, you will pay only 5% of the cost of covered drugs.

If you have a low income, you may qualify for Extra Help, which can help you pay for your Medicare Part D costs. To qualify for Extra Help, you must have an income below certain limits and have limited assets.

You can enroll in a Medicare Part D plan during your Initial Enrollment Period, which is the 7-month period that starts 3 months before you turn 65 and ends 3 months after you turn 65. If you miss your Initial Enrollment Period, you may be able to enroll during a Special Enrollment Period if you have certain life events, such as moving to a new area, losing your job, or getting married.

It is important to compare Medicare Part D plans carefully before you enroll. You can compare plans on the Medicare website or by talking to a Medicare counselor.

Here are some things to consider when comparing Medicare Part D plans:

  • Cost: Medicare Part D plans have monthly premiums, which vary by plan. You may also have to pay copayments or coinsurance for covered drugs.
  • Coverage: Medicare Part D plans have different coverage levels. Some plans have broader coverage than others.
  • Formulary: Medicare Part D plans have different formularies, which are lists of covered drugs. Some plans have more drugs on their formulary than others.
  • Prescription drug costs: Medicare Part D plans have different prescription drug costs. Some plans have lower costs than others.
  • Extra Help: If you have a low income, you may qualify for Extra Help, which can help you pay for your Medicare Part D costs.

Once you have compared plans and chosen a plan, you will need to enroll in the plan. You can enroll in a Medicare Part D plan online, by phone, or by mail.

If you’re not sure which Medicare Part D plan is right for you, you can talk to a Medicare counselor. Medicare counselors can help you compare plans and choose a plan that meets your needs.

Medicare Part D is a good option for many people with Medicare. Medicare Part D plans offer prescription drug coverage, and they can often be less expensive than paying for prescription drugs out of pocket. If you take prescription drugs, be sure to compare Medicare Part D plans carefully and choose a plan that meets your needs.