24
MARCH/APRIL 2015
Medicare Tip 2: Know the
different parts of Medicare.
Is Medicare in Your
Future?
by StableView Health
Too often consumers become
confused and frustrated in their
search for answers to some of the
basic questions regarding Medicare. StableView Health (HMO)
is your local Medicare Advantage
plan and is here to answer all of
your Medicare questions. Below
are some tips to make the transition to Medicare easier.
Medicare Tip 1: Know your
Medicare Open Enrollment
Period.
Be aware: Medicare has specific
enrollment periods, so don’t wait.
In order to avoid any extra costs
or fees, make sure you know when
you can first enroll in Medicare.
You become eligible for Medicare benefits when you turn 65,
and you can choose and enroll
in your plan during the month of
your 65th birthday and the three
months before and after. So if you
turn 65 in June, 2015, you will
able to enroll from March through
September, 2015. If you miss
this window you’ll have to wait
until the next General Enrollment
Period (between January 1 and
March 31 each year) to enroll and
until July 1 for coverage to begin.
Some folks wait until they retire
to begin Medicare – often when
they are 67 or older. Be sure to
talk to your benefits advisor if you
plan to work past age 65. You may
need to enroll in Medicare Part B,
even if you are getting your health
insurance through your employer.
Your prescription drug coverage
through your employer must also
be “creditable”, which means it
is at least as good as Medicare’s.
If it’s not, you may be subject to
late enrollment penalties when
you leave your employer’s group
coverage and begin Medicare. If
you are still working and receive
health care benefits from an
eligible employer, you will have an
eight-month Special Enrollment
Period to enroll (without penalty)
once you quite working or your
group health plan ends, whichever
comes first.
Medicare is often referred to
as different “parts”. First there is
Original Medicare, which consists
of Part A – Hospital, and Part B
– Medical. People often purchase
supplemental insurance to help
close the gap in their coverage.
The “other” Medicare insurance
is called Medicare Advantage, or
Part C. It combines Parts A and
Part B into one plan and will often
include Part D, prescription drug
coverage.
Medicare Tip 3: Know your
health care needs.
There are a lot of different options for Medicare coverage, and
it can be very confusing picking
which parts are