MedicareMedicare is federally funded health insurance that many people in the United States rely on once they turn 65. 

To minimize the stress and maximize your coverage, it’s important to know the ins and outs of Medicare before you apply for coverage. Here’s some facts everyone should know before they start the application process: 

Start early
The enrollment process can start as early as three months before you turn 65, but experts suggest starting your research shortly after turning 64. This will ensure you understand the process and know what to sign-up for. 

There are late penalties
Depending on which part of Medicare you sign up for, you may pay a 10 percent penalty for every 12 months you’re late, or 1 percent for each month you’re late. The enrollment period for Medicare starts three months before your 65th birthday and ends four months after. If you miss this period, you must sign up during the general enrollment period, which runs from January 1 – March 31. 

There are four parts of Medicare you can enroll in
Medicare is divided into four parts: 

  • Part A
  • Part B
  • Part C
  • Part D

Each part offers different services, so be sure to research each part of Medicare and understand what each one covers before choosing a plan.   

There isn’t a family plan
Medicare is for individuals only and each family member over 65 must enroll separately to receive benefits. 

If you receive social security, you may already be enrolled
If you applied for social security before turning 65, you should automatically be enrolled in Medicare Part A and/or Part B automatically. Retired railroad workers who receive Railroad Retirement Benefits (RRB) are also automatically enrolled. 

Keep in mind it’s always a great idea to double-check to make sure you’re enrolled. 

If you have Medicare and want to know what your plan covers at Embassy Healthcare, give us a call at 888-975-1379 today.