FAQ

Medicare is divided into four parts and this can be a little confusing if you're new to Medicare.

• Medicare Part A (Hospital Insurance) - Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
• Medicare Part B (Medical Insurance) - Part B covers certain doctors' services, outpatient care, medical supplies and preventive services.
• Medicare Part D (Prescription Drug Coverage) - Part D helps cover the cost of prescription drugs, as well as many recommended shots or vaccines.
• Medicare Part C (Medicare Advantage) - Part C Medicare Advantage plans are private health plans that you can choose instead of Original Medicare (Parts A & B). You would get your Part A and Part B coverage from a private insurance carrier, with many of the plans including Part D prescription drug coverage, as well. Advantage plans have provider networks (i.e. doctors, hospitals, clinics, etc.) from whom you would receive your care.

Original Medicare, Parts A & B, are regulated, managed and administered by the Federal Government, whereas, Part C Medicare Advantage and Part D Prescription Drug Plans are regulated by the government, but run by private insurance companies.

There are premiums associated with Medicare. If you or your spouse have worked at least 40 quarters (10 years) and paid Medicare taxes, you will pay $0 for your Part A premium. If you or your spouse have worked between 30 and 39 quarters (between 7.5 and 10 years) and paid Medicare taxes, you will pay a reduced Part A premium of $278 in 2023. Anyone who has worked less than 30 quarters would have to pay the full Part A premium of $506 in 2023.

Part A hospital inpatient deductible and coinsurance for 2023: * $1,600 deductible for each benefit period * Days 1-60: $0 coinsurance for each benefit period * Days 61-90: $400 coinsurance per day of each benefit period * Days 91 through 150: $800 copayment, * After day 150: You pay all costs.

The standard Part B premium amount in 2023 is $164.90 (or higher if your income from two years prior (2021) was above $97,000/single or $194,000/joint). Part B deductible is $226 in 2023. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment (dme).

Medicare Advantage Plan (Part C) premiums and other costs (like deductible, copayments and coinsurance) vary by plan and the amounts can change each year. You must have Part B and keep paying your Part B premium to stay in your Advantage Plan.

Medicare stand-alone Prescription Drug Plans (Part D) premiums and other costs (like deductible, copayments and coinsurance) vary by plan and the amounts can change each year. You may also have to pay an extra amount each month based on your income.

The Department of Health and Human Services generally advises filing for Medicare benefits 3 months before age 65 in order for coverage to start on the first day of your birth month. If you are already receiving Social Security, you should already be automatically enrolled in Medicare Parts A and B without an additional application. If for any reason you believe you may not already be enrolled in Medicare when first eligible to do so, i.e., you have not received your Part A & B Medicare card from Medicare, you should contact Social Security immediately. Because you must pay a premium for Part B coverage, you'll have the option of turning it down. However, late penalties will most likely incur if and when you do sign up if outside of the initial enrollment period (IEP), which is three months before your birthday month, your birthday month and three months after your birthday month. note: If your birthday falls on the first of any month, your IEP begins a month earlier.

Delaying Medicare should always be approached with forethought and caution to avoid possible permanent penalties and delays in coverage. Some people who are still working when they turn 65 and have employer-sponsored health insurance may consider delaying Medicare or just Part B of Medicare. The following fact sheet from CMS may help you to decide, but it's always best to get help from your employer's HR department and Social Security when making this important decision. Download: Deciding Whether to Enroll in Medicare Part A and Part B When You Turn 65

There are several ways to sign up for Medicare:

1. Visit the Social Security application page
2. Contact your local Social Security office
3. Call Social Security Toll-free at: 1-800-772-1213 (TTY 1-800-325-0778)

There are four ways you can pay your Medicare premiums:

1. Pay online through your secure Medicare account
2. Pay directly from your savings or checking account through your bank's online bill payment service
3. Sign up for Medicare Easy Pay, a free service that automatically deducts your premium payments from your savings or checking account each month
4. Mail your payment to Medicare

Medicare Supplement Insurance, or Medigap, helps fill the gaps in Original Medicare and is sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like:
* Copayments
* Coinsurance
* Deductibles
Learn more about Medicare Supplement Insurance here: Medigap

Medicare Supplement Insurance (Medigap) is managed and sold by private insurance companies. You can get Medigap from a number of companies, and although the coverage is standardized by the government, the cost of the plans may, and usually does, vary from company to company.
An independent agent or agency can shop for plans from several companies, which usually gives the consumer more choices relating to company strength and plan cost.
If you would like to hear about Medigap Plans that fit your specific needs, please call the number at the top of the page to speak with a licensed agent.