Medicare Part A & B
Medicare is our nation’s health insurance program for individuals who are 65 years and older and for some under 65 with a disability. There are 4 parts to Medicare, each providing different types of health care services and coverage.
DO NOT WAIT Till your 65th Birthday to get Medicare Part A & B! Start 3 FULL months prior to avoid delays and penalties! DO NOT WAIT! Call TexasHealthNOW so I can help you with every step of the process!
You can find out everything you need to know about Medicare NOW, before you turn 65 so you can make an informed decision and be set up for full coverage starting on the first day of your birthday month you turn 65! Your cost will not be higher if you choose to work with me. On the contrary, since I am contracted with top carriers, I will be able to provide you an objective list of options from which you can choose.
Agents are paid a commission directly from the insurance companies so there is no added costs for the client who works with an agent….but there is added knowledge. It would be my pleasure to serve the people in my community by providing you with quality honest information about the best plans in your area that meet your individual needs so YOU can personally decide on the best plan for you!
What does it cover?
Medicare Part A is hospital or in-patient insurance.
It has co-pays and co-insurance and helps pay for 80% of the cost for in-patient hospital stays, skilled nursing facility care and hospice care. Most people approaching their 65th Birthday will be enrolled automatically in Medicare Part A (if drawing social security benefits). Most people will not have to pay for Part A if they (or their spouse) worked in the U.S. for 10 or more years and paid payroll taxes. If you are a U.S. citizen or permanent resident and lived in the U.S. for 5 consecutive years but did not work in the U.S. you may still be eligible for Part A but may need to pay the monthly premium.
Medicare Part B is your medical or out-patient insurance.
It pays 80% of medical out-patient medical services and supplies like doctor’s visits, lab work and durable medical equipment.
Medicare Part B has a monthly standard premium of $170.10 in 2022 and an annual deductible of $233. This Part B premium (and Part D premiums) may be more for those who are in a higher income bracket 2 years back. The Part B premium and deductible will slightly increase each year, as it did from 2021. If you are drawing social security monthly benefits, your Medicare Part B premium will be deducted from your check. If you are not yet drawing social security benefits, you will be billed quarterly for Medicare Part B. You must be timely in making this quarterly payment, because if not paid, you may lose the added coverage in which you enrolled to supplement Part A and B gaps in coverage.
When do I apply?
Your very own Medicare Individual Enrollment Period (IEP) begins 3 full months before your birthday month before your 65 Birthday. For example if your 65 Birthday is May 10, then your Individual Enrollment Period begins February 1 (3 full months before May).
If you are already collecting Social Security monthly benefits, it is more than likely you will be automatically enrolled in Medicare Part A and B and you will receive your Medicare red, white and blue card in the mail a few months before your 65th birthday. This is a paper card, so do not mistaken it for yet another piece of advertising and throw it away. Once you receive your Medicare card, please contact me so I can help you enroll in the remaining Parts of Medicare: Medicare Supplement or Medicare Part C and Medicare Part D. Medicare Parts A & B also knows as original Medicare is not enough. You need the other parts of Medicare to complete your health insurance coverage.
If you are NOT collecting Social Security monthly benefits 3 months prior to your 65th birthday, you will need to apply for Medicare Part A & B yourself during the 3 full months prior to your 65th birthday. The only reason to wait to enroll in Medicare Part A & B is if you have coverage through a large employer. In most cases, Medicare is often better coverage than large group employer coverage due to low maximum out of pocket rates and deductibles. However, if you need to keep your group employer coverage beyond age 65, you can enroll in Medicare Part A and delay your enrollment in Part B until 2-3 months before you retire. You must make sure your employer group coverage has more than 20 employees and the group health insurance is considered creditable coverage as compared to Medicare. You can ask your benefits department for a letter each year past the age of 65 stating that the group insurance is creditable.
Best scenario is to go ahead and apply for Medicare Part A & B during your Individual Enrollment Period 3 full months prior to your birthday month, even if still working. Some people cannot do so, however, if they have their spouse and children on their group plan. In this case, you can get Medicare Part A and delay Part B as mentioned above.
How Do I Apply for Medicare Part A & B?
You can apply 3 different ways 3 Full months prior to turning 65! You do not need to apply if you have started drawing social security benefits before your 65th birthday. You will receive your Medicare Card in the mail 2-3 months prior to your birthday. If not drawing social security benefits, do one of the following to apply:
- Call Social Security at 1 800 772-1213
- Apply online by visiting www.ssa.gov/benefits/medicare. Scroll down the page until you find the bright blue button “Apply For Medicare ONLY”. You will be prompted to create a “My Social Security” Account. If you created an account in years past and forgot your email or password, you may encounter a few technical issues. In that case, you can call Social Security or try to create an account through the ID.me option. This option will require you uploading a picture of yourself and answering questions to verify your identity.
- Visiting your local social Security Office. Take proof of identity with you (Driver’s license, social security card, passport, marriage certificate or divorce decree if applicable, spouse or ex-spouse social security number)