Medicare 101

What Is Medicare? Medicare is a federal health insurance program for: People age 65 and older People under 65 with certain disabilities People with End-Stage Renal Disease (ESRD) or ALS

The Four Parts of Medicare

Part A – Hospital Insurance Covers inpatient hospital stays, skilled nursing facilities, hospice care, and some home health care. Most people don’t pay a premium for Part A if they paid Medicare taxes while working.

Part B – Medical Insurance

Covers doctor visits, outpatient care, preventive services, and some home health care. There is a monthly premium for Part B, based on income.

Part C – Medicare Advantage

An alternative to Original Medicare, offered by private insurance companies. Combines Part A and B, often includes Part D and extra benefits like dental, vision, hearing, and wellness perks. You still must be enrolled in Part A and B to join.

Part D – Prescription Drug Coverage

Helps cover the cost of prescription drugs. Offered through private insurers as stand-alone plans or included in Medicare Advantage plans.

When to Enroll?

Initial Enrolment Period (IEP): Begins 3 months before your 65th birthday, includes your birth month, and lasts 3 months after. Missing your enrolment window may lead to late penalties.

What About Medicare Supplement (Medigap)?

Medigap plans help cover the out-of-pocket costs that Original Medicare doesn’t, like deductibles, co-payments, and coinsurance. You must have Original Medicare (Part A and B) to enrol in a Medigap plan. Cannot be combined with Medicare Advantage.

How to Decide What’s Best for You?

Choosing the right Medicare path depends on:

Your health needs Budget Doctors and hospitals you want access to Whether you need extra benefits (like dental, vision, etc.)

We’re Here to Help

Medicare can be confusing, but it doesn’t have to be. Our job is to simplify it for you, walk you through your options, and help you choose the plan that fits your life best — not just now, but in the years to come. Ready to learn more or review your current plan? Book a free Medicare consultation with us today.

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