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1. What is Medicare?
Medicare is a health insurance program for people age 65 or older, some disabled people under age 65, and people of all ages with End-Stage Renal Disease (permanent kidney failure treated with dialysis or a transplant).
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2. What are the Different Parts of Medicare?
The different parts of Medicare help cover specific services if you meet certain conditions. Medicare has the following parts:
Medicare Part A (Hospital Insurance) (FREE – No Premium).
• Helps cover inpatient care in hospitals.
• Helps cover skilled nursing facility, hospice, and home health care.
Medicare Part B (Medical Insurance) (Individuals pay a premium on a monthly basis).
• Helps cover doctors’ services and outpatient care.
• Helps cover some preventive services to help maintain your health and to keep certain illnesses from getting worse.
Medicare Part C (Medicare Advantage Plans) (like an HMO or PPO).
• A health coverage choice run by private companies approved by Medicare.
• Includes Part A, Part B, and usually other coverage including prescription drugs.
Medicare Part D (Prescription Drug Coverage).
• Helps cover the cost of prescription drugs.
• May help lower your prescription drug costs and help protect against higher costs in the future.
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3. I am turning 65 and I am still actively employed. Do I need to sign up for Medicare? What about my spouse?
Medicare A (hospital coverage) is automatic and (generally) does not have a cost associated with it. You should NOT enroll for Medicare B (Doctor) or Medicare D (prescription) while you are still actively employed and eligible for benefits. As long as your spouse is covered as a dependent on your employee medical coverage, he/she does not need to enroll in Medicare.
At the point in time that you resign or retire you (and your spouse, if applicable) must enroll in Medicare B. You may also want to enroll in Medicare D. If you do not sign up for Parts B and D when you are first eligible you will be charged a penalty.
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4. Where can I learn more about Medicare?
You can learn more about Medicare by contacting the Social Security Administration www.ssa.gov.
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