MEDICARE FAQs ~Lou Saledas

How much does Medicare cost?

A common misconception about Medicare is that it’s a free government safety net that awaits beneficiaries when they reach retirement. The fact is, each type of Medicare coverage does have its own costs, similar to other health insurance you’ve purchased over the years.  So expect premiums, copays, and coinsurance. Also, expect those costs to change each year. Please reach out to Lou for additional information.

Can I get supplemental coverage?

When initially enrolling in Medicare Part B, the government provides six months to purchase supplemental, or Medigap, plans with no medical questions asked.

Someone who switches to Medicare Advantage has a 12-month period in which they can switch back to original Medicare and resume their supplemental policy without any medical underwriting.

However, that option disappears after 12 months on Medicare Advantage. Please consult with your Medicare Broker If you are thinking about leaving Medicare Advantage and want a supplemental plan. Please reach out to Lou for additional information.

Is dental or vision covered by Original Medicare?

Original Medicare doesn’t cover all of the services older people need. Original Medicare doesn’t cover dental, vision, hearing aids, and fitness programs. However, Medicare Advantage plans sometimes include these benefits. Please reach out to Lou for additional information.

Do I need a separate prescription drug plan?

If you only have Original Medicare you will need to purchase a separate prescription drug policy, a Part D plan. Medicare Advantage plans sometimes include prescription drug coverage, which may or may not cover the medications you need. Please reach out to Lou for additional information.

What is the Medicare phone number?

Medicare provides beneficiaries with an easy-to-remember 800 number: 1-800-MEDICARE. (That’s 1-800-633-4227.)

What is Medicare open enrollment?

Medicare open enrollment – also known as the annual election period (AEP) or annual coordinated election period – refers to the annual period (October 15 through December 7) during which Medicare plan enrollees can reevaluate their coverage — whether it’s Original Medicare with supplemental drug coverage, or Medicare Advantage — and make changes if they want to do so. Please reach out to Lou for additional information.

Can I change my Medicare Advantage coverage after the annual enrollment period?

Between January 1 and March 31 each year, if you are enrolled in a Medicare Advantage plan, you can leave your plan and return to Original Medicare, and buy a Part D prescription drug plan to supplement your Original Medicare. You also have the option to switch to a different Medicare Advantage plan during this time. Please reach out to Lou for additional information.

Do I need to sign up for Medicare at 65 if I’m still working?

Medicare eligibility begins at age 65, and signing up on time can help you avoid premium surcharges. But if you’re working at 65, you get a bit more flexibility.

But if you’re still working at 65, and you have coverage under a group health plan through an employer with 20 employees or more, then you don’t have to enroll in Medicare right now. But if your employer has less than 20 employees, you need to take Medicare Parts A and B, because that will be your primary insurance. If you don’t enroll, your employer plan may pay less – or nothing at all – for your care when it finds out. Please reach out to Lou for additional information.

Do I need to be on Social Security to get Medicare coverage?

Seniors rely on Medicare for health benefits in retirement, and depend on Social Security as a key income source. But while the two programs are interrelated, participation in one doesn’t necessarily hinge on being signed up for the other. Please reach out to Lou for additional information.