Questions to ask when new to Medicare
If you are new to Medicare, there are several questions you should consider while approaching or within your Initial Enrollment Period (IEP) or a Special Enrollment Period (SEP). Use this guide to consider your options when preparing to enroll in Medicare or after you have already enrolled.
Medicare Parts
Medicare is a complex program and can sometimes be
confusing.
The best place to start when you are new to Medicare is by
familiarizing yourself with the differences between it and
the health insurance you have now. Learn what makes a
person Medicare-eligible, the different parts of Medicare
insurance and what those parts cover, times to enroll in
Medicare, and how putting off enrollment can result in
penalties. These initial steps will help smooth the
transition from your current insurance to Medicare once
you are eligible.
Everyone has different health care needs,
meaning the coverage that is right for your friends or
family may not be right for you. Will you enroll
in Original Medicare or would you prefer a Medicare
Advantage Plan that may limit your provider networks or
have different costs but that offers additional coverage?
If you have current employer insurance, you may decide not
to enroll in Medicare until you have retired. If you are
already retired, you might find that Original
Medicare plus retiree insurance works better for you than
Original Medicare plus a Medigap (or vice versa). Find out
the full range of your coverage options.
While you should make sure you enroll in Part D prescription drug coverage when you become
Medicare-eligible (assuming you do not have other
creditable drug coverage), there are many Part D options
for you to explore. Keep in mind, too, that sometimes
retiree insurance offers prescription drug coverage that
is as good as or better than Medicare Part D. If that is
the case, you might decide not to take Part D because you
are already covered. Finally, if you have difficulty
affording your drug costs, you may want to consider
applying for programs that can help pay these costs.
There are several programs for people with low incomes that help pay for Medicare-related costs, such as
premiums and copays. Some of these programs are federal
while others are state-specific. Find out whether you meet
the eligibility requirements and take full advantage.