Turning 65? Here’s What You Need to Know About Medicare Enrollment

If you’re turning 65, you may be thinking about Medicare enrollment and what it means for your healthcare coverage. Medicare can seem overwhelming at first, but understanding key enrollment periods and coverage options can help you make an informed decision.

At Kingdom First Insurance, we are here to provide educational guidance so you can explore your senior health insurance options with confidence.

 

When Can You Enroll in Medicare?

 

Most people enroll in Medicare when they turn 65. Your Initial Enrollment Period (IEP) lasts for seven months:

• Three months before your 65th birthday
• The month of your 65th birthday
• Three months after your birthday

If you do not enroll in Medicare during this window and do not have other creditable coverage(such as employer-sponsored insurance), you may have to pay late enrollment penalties for Medicare Part B and Medicare Part D (prescription drug coverage).

Special Enrollment Periods (SEPs)

 

If you are still working when you turn 65 and have employer-sponsored health insurance, you may qualify for a Special Enrollment Period (SEP). This allows you to sign up for Medicare without penalties once your employer coverage ends.

To learn more about SEPs and eligibility, visit Medicare .gov .

 

Medicare Coverage Options Explained

 

When enrolling in Medicare, you have several options:

 

1. Original Medicare (Part A & Part B)

• Medicare Part A: Covers hospital stays, skilled nursing facility care, hospice care, and some home health services.
• Medicare Part B: Covers doctor visits, outpatient care, preventive services, and medical equipment.

Original Medicare does not cover prescription drugs, dental, vision, or hearing services.

 

2. Medicare Advantage (Part C)

• Offered by private insurance companies approved by Medicare.
• Includes Part A and Part B coverage and may offer additional benefits like vision, dental, hearing, and prescription drug coverage.
• Plan availability varies by location, so it is important to compare options based on your ZIP code.

3. Medicare Part D (Prescription Drug Coverage)

• Helps cover the cost of prescription medications.
• Plans are offered by private insurers and vary in terms of covered medications and costs.

4. Medicare Supplement Insurance (Medigap)

• Sold by private companies to help cover out-of-pocket costs associated with Original Medicare, such as deductibles, copays, and coinsurance.
• Medigap plans do not include prescription drug coverage, so you may also need a Part D plan.

To compare Medicare Advantage and Medigap plans, visit Medicare .gov .

 

Common Medicare Enrollment Mistakes to Avoid

 

Choosing a senior health insurance plan requires careful consideration. Here are some common mistakes to watch out for:

• Missing Your Enrollment Period: If you do not sign up for Medicare during your Initial Enrollment Period and do not qualify for an SEP, you may face late enrollment penalties.
• Assuming Medicare Covers Everything: Original Medicare does not cover certain services, including routine dental, vision, and hearing care, unless you enroll in a Medicare Advantage plan that includes these benefits.
• Not Reviewing Plan Options Annually: Medicare plans can change every year, including coverage, premiums, and provider networks. You can review and make changes during Medicare’s Annual Enrollment Period (AEP), which runs from October 15 to December 7 each year.

Need Help Understanding Your Medicare Options?

 

Medicare is not one-size-fits-all, and choosing the right coverage depends on your individual needs.

 

Learn more about your Medicare options—contact a licensed agent today.

 

For official Medicare resources and plan comparisons, visit Medicare .gov .

Compliance Disclaimer

 

This article is for informational purposes only and is not intended to offer specific insurance advice. Medicare Advantage and Medicare Part D plans are offered by private insurers and vary by location. For official Medicare information, visit Medicare .gov or call 1-800-MEDICARE (1-800-633-4227).