Medicare

I’m turning 65. What do I need to know?

Generally, any US citizen who has worked for more than ten years and paid social security tax is eligible for Medicare and Medicare Supplement coverage. Medicare Part A covers hospitalization and limited long term care, while Part B pays for physician and other outpatient services. Part B covers 80% of covered services and the individual is responsible for the remaining 20%.

Medicare Supplements, also known as Medigap insurance is designed to deal with this and other “gaps” in Parts A and B. As someone turning 65, you have the ability to purchase a policy on a guaranteed issue basis, without regard to prior health history. This guarantee period lasts for six months from your 65th birthday.

Unlike most insurance plans, all Medicare Supplements offer the same benefits regardless of carrier. The only difference is premium cost. We will be happy to explain the different plans to you and we will provide you a comprehensive list of carriers and premiums for your state.