What is Medicare

Medicare is is health insurance for :

  • People 65 years and older
  • People under 65 with certain disabilities
  • People of any age with End-Stage Renal Disease(ESRD) requiring dialysis or kidney transplant

What does Medicare cover?

Medicare Part A(hospital insurance) covers:

  • Inpatient hospital care
  • Skilled nursing facility care
  • Hospice care
  • Home health care

Medicare Part B(medical insurance) covers:

  • Doctor visits and services from other providers
  • Outpatient hospital services
  • Many preventative services
  • Durable medical equipment

Medicare Part D (prescription drug coverage):

Helps cover the cost of prescription drugs. It is important to note that you do not obtain your Part D coverage through Medicare. The plans are offered by Medicare approved private insurance companies that in most cases charge a premium, deductible and co-pays. It is important to join a Medicare Part D plan when you become eligible to avoid paying a late enrollment penalty. You may be able to delay enrolling Part D coverage without a penalty if you have creditable coverage, like coverage through your job or your spouse's job.

What does Medicare NOT cover?

  • Dental
  • Vision
  • Hearing
  • Long term care

Many people opt for a "stand alone" plan to help cover the cost of dental, vision and hearing expenses. These plans are usually quite affordable and cover such things as routine and major dental care and dentures, vision exams and eye wear and hearing exams and hearing aids. Contact us to find out what options we offer to help cover these services.Long term care is not covered by Medicare or Medicare supplement insurance plans. Long term care insurance may be purchased through private insurers. Individuals also may be eligible for long term care through Medicaid.

Am I eligible for Medicare?

Anyone who has contributed to the Medicare system through their payroll taxes for at least 10 years, or 40 quarters, is able to receive Medicare benefits. In most cases, a non-working spouse will most likely qualify under the working spouses benefit when they turn 65. Also people under the age of 65 who qualify for social security disability are eligible. However, these individuals will need to be on disability for 24 months before receiving Medicare benefits

When can I enroll?

Some people get Part A and Part B automatically. If you are already receiving your Social Security benefits or Railroad Retirement Benefits, you will automatically be enrolled in Part A and Part B. Your benefits will begin the 1st of the month you turn 65 unless your birthday is on the 1st of the month. In that case, your benefit will begin the 1st of the prior month. You will need to sign up for Part B if you opted to wait and receive your Social Security benefits. If you decide to continue working and have insurance through your employer then you may opt out of Medicare Part B until you decide to retire. You will have a "special enrollment period" at that time and should be able to enroll without a penalty.

When can I enroll in a Medicare Supplement Plan?

You can enroll in a Medicare supplement plan during your "Open Enrollment Period" This occurs on the first day you are 65 and enrolled in Medicare Part B. During this time, insurance companies cannot refuse to sell you any plan they offer, cannot subject you to underwriting and cannot make you wait for your coverage start due to pre-existing conditions as long as you have had "creditable coverage". In most states, YOU MAY BUY A MEDICARE SUPPLEMENT PLAN UP TO 6 MONTHS PRIOR TO YOUR 65TH BIRTHDAY!! Why is this important? Because it allows you to lock in your rate for up to 18 months without any risk of a rate increase. This will also undoubtedly give you peace of mind that your Medicare supplement plan is in place, you have your policy and cards in hand and you are ready to embark on this chapter of your life.

Liberty Medicare Advisors

Serving Consumers Nationally


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