Turning 65 – What you need to know about enrolling in Medicare

May 8, 2018 gtutt44 242 comments

Hi, I am Gary and I work with United American. If you need help with deciding on which Medicare Supp. is right for you call me at 1-909-656-4885. are you turning 65 then you probably have some questions about Medicare it’s simple and easy when you know the right steps I’m going to show you the right steps coming up hi I’m Jared with Medicare ENCOM where we teach you simple strategies to save money and maximize your Medicare benefits you know one of the most important decisions you’ll make when turning 65 is choosing the right medicare plan in this video I’m going to cover the five steps to successfully enrolling in Medicare for the first time step number one is understanding how Medicare works now there’s four parts to Medicare there’s part a B C and D the easiest way to remember how each part works is to think of it this way if you have an emergency and ambulance they’ll come and pick you up and they’ll take you to a the hospital when you’re released from the hospital they’ll tell you to follow up with your B primary care physician Part C is known as Medicare Advantage when we’ll look at that in just a moment and Part D covers your prescription medications or D for drugs so now that you know the basics about how Medicare works let’s take a look at step number two knowing how to enroll in Medicare enrolling in Medicare is simple just call your local Social Security office they’ll determine your eligibility they’ll even walk you through the whole process now once you’re enrolled you’ll receive your red white and blue Medicare card in the mail within about 30 days your coverage will begin on the first day of the month that you turn 65 step number three when to enroll in Medicare you have a 7 month window to enroll in Medicare for the very first time now this enrollment window begins three months before your 65th birthday and lasts for seven months so what exactly does that mean well it means you can enroll in Medicare when you’re 64 and nine months old so let’s say you’re turning 65 in July you can sign up as early is April first but no later than October 31st this 7 month window is only offered to you once so if you don’t enroll during this period you may end up paying a late penalty and here’s a tip don’t delay have your coverage working for you the very first day of your birth month take advantage of the time given to you and enroll before you turn 65 step number 4 prescription drug coverage or Part D many people are unaware they must enroll in a Part D prescription drug plan once they become eligible for Medicare even if they currently do not take medication or need prescriptions if you delay enrollment in a Medicare prescription drug plan when you’re first eligible you may have to pay a late enrollment penalty now keep in mind this is not a one-time penalty this penalty is annual and it can increase each year but the good news is Medicare has a variety of prescription drug plans available to find the right plan just simply go to wwm oetiker gov click on find drug plans and within a few minutes you’ll be able to shop around for the right plan to fit your needs as well as your budget and finally step number five the coverage gap it’s important to know that Medicare a and B only covers about 80% of your Medicare bills this is known as the coverage gap the good news is you have two options to cover this 20% gap so let’s take a look at those two options option number one Medicare Advantage or Part C Medicare Advantage is limited to a network of specialists doctors and hospitals and most of these plans have co-payments coinsurance and other out-of-pocket costs that can total up to sixty seven hundred dollars annually option number two medicare supplement or Medigap Medigap plans have low monthly premiums and no network which allows you to choose any specialist doctor or hospital that accepts your red white and blue Medicare card typically there’s no co-pays no coinsurance and no deductibles when comparing the two Medigap plans offer the most protection and remain the most popular choice of coverage for people throughout the u.s. we’ve created a video to help you choose which plan is right for you so click here to check it out plus a lot more videos coming up so watch and subscribe to this channel thank you so much for watching and if you have any questions about the content of this video or about maximizing your Medicare benefits then download our free ebook the Medicare strategy guide in this guide we cover the step-by-step process that we use to help people with their Medicare enrollment and you can get that by clicking in the description box below subscribe to our channel if you want to see more videos like this and thanks for watching we’ll see you next time Call Gary at 1909-656-4885 or visit AllInOneStore.info Ins.Page for more info on Medicate Supps and United American.

Leave a Reply

Your email address will not be published. Required fields are marked *