Answers provided by Breitenfeldt Group
What is Medicare?
Medicare is the federal health insurance program for people who are 65 and older, or younger individuals who may qualify because of a disability, End-Stage Renal Disease, ALS, or other special circumstances.
What are the Parts of Medicare?
Part A and B are considered Original Medicare – this is the Federal health insurance program. Part A is hospital insurance for inpatient care, skilled nursing facility care, home healthcare, and hospice. Part B is medical insurance for doctor services, outpatient care, durable medical equipment, and preventative care.
Part C (Medicare Advantage), Medigap (Supplement), and Part D (drug coverage) are some of the plan options offered through private insurance companies, in addition to Part A & B. These plans are designed to help pay out-of-pocket costs, offer coverage for prescription drugs, and supply additional benefits not covered by original Medicare.
How does Medicare affect my HSA (Health Savings Account)?
Once you are enrolled into Medicare Part A, you are no longer eligible to make contributions to an HSA. It is important to create a strategy for your contributions at least six months in advance of when you would like Medicare to begin.
When should I enroll into Medicare?
You can begin the enrollment process into Medicare three months prior to the month you turn 65. However, if you or your spouse are still working and covered by an employer’s group health plan, you may not need to enroll into Medicare at age 65. Every situation is unique, and a variety of factors should be taken into consideration to determine when to enroll.
How do I enroll into Medicare Part A & B?
Enrollment in Medicare Part A & B is done through the Social Security office. If you are collecting Social Security benefits prior to age 65, you will automatically be enrolled into Medicare Part A & B to be effective the first day of the month you turn 65. If you are not collecting Social Security, you will need to take action to complete your enrollment. This can be done online at www.ssa.gov or by calling your local office to schedule an appointment.
How do I enroll into a Medicare supplemental plan?
Enrollment into Part C, Part D, and Medigap policies are done through a private insurance company. We recommend using an independent broker to assist with selecting the most suitable plan for your needs. A reputable broker can give you a full picture of all the plans available in your area and provide insight into claims and customer service associated with those plans at no extra cost.
Find out more
If you have more questions about Medicare, Breitenfeldt Group is here to answer them. We are an independent health insurance brokerage who has been serving the area for almost 30 years. There are never fees for our services and we offer year-round support with your health insurance. Simply give us a call at 877-732-9800 or email us at info@bghealthplans.com to connect with one of our licensed agents.
Not connected with or endorsed by the U.S. government or the federal Medicare program.
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