Medicare 101 - Medicare Headquarters Ft. Lauderdale, FL

Overview of Medicare services for Ft. Lauderdale, FL seniors.

What is Medicare?

Medicare is a federal health insurance program designed to assist:

1. Individuals aged 65 and older

2. People under 65 with qualifying disabilities

3. Anyone diagnosed with end-stage renal disease (ESRD) or kidney failure

Original Medicare, consisting of Parts A & B, offers a variety of healthcare benefits. However, it’s not a comprehensive plan. While deductibles, coinsurance, and copays are generally competitive, there is no cap on out-of-pocket expenses, which could result in substantial costs for beneficiaries.

To bridge these coverage gaps, options like employer-sponsored insurance, Medicare Advantage (Part C), or a combination of a Medicare Supplement (Medigap) plan and a Medicare Prescription Drug plan (Part D) can provide additional financial protection.

The Big Question

You might be asking yourself, "Do I need to enroll in Medicare?" For most people approaching their 65th birthday, the answer is yes.

However, your specific circumstances play a crucial role. Before diving into the details of Medicare, it’s essential to determine the right time for you to take action.

Click the button below to access Medicare's eligibility tool, where you can quickly answer a few questions and get an estimate of your enrollment deadline. This will help you avoid any future penalties.

After you’ve completed the tool, make a note of your Initial Enrollment Period deadlines. Then, return to this page to continue your introduction to Medicare.

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Feel free to reach out to us for assistance with checking your Medicare eligibility.

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Medicare Part A

Covers costs related to inpatient hospital stays, skilled nursing care, hospice services, and blood transfusions.

"You Pay" Diagram

Please note, there is no annual cap on out-of-pocket expenses.

For most individuals, Part A comes with a $0 monthly premium.

Medicare Part B

Covers expenses for physician services, outpatient care, blood work, tests, and medical supplies.

"You Pay" Diagram

Keep in mind, Part B also has no annual cap on out-of-pocket costs.

For most individuals, Part B premiums start at $174.70 per month.

Covering the Gaps of Original Medicare

Beyond certain group health plans, there are two primary ways to fill the gaps in Original Medicare coverage. Each option offers unique benefits, depending on what matters most to you. Fortunately, they’re straightforward to grasp, so take a deep breath—this process is simpler than you might think.

Comparison chart of Medicare Supplement and Medicare Advantage plans in Ft. Lauderdale, FL.

Hold on a moment—let’s not get ahead of ourselves!

Medigap plans typically come with higher monthly premiums compared to Medicare Advantage, so it's crucial to weigh both options carefully and choose a plan that fits comfortably within your budget.

Keep in mind that Medicare Supplement (Medigap) and Medicare Advantage plans can differ significantly between insurance companies. Premiums, deductibles, and out-of-pocket costs can vary by plan, and in some cases, you may need to purchase prescription drug coverage separately, as mentioned earlier.

Understanding the differences between these options and any potential future restrictions is vital. If you make a choice now and decide to change plans later, you could be subject to health underwriting, which means not everyone may be accepted.

Making the right decision today is key to avoiding potential risks down the road.

Medicare Part D

Provides prescription drug coverage.

Medicare drug coverage helps reduce your out-of-pocket costs for prescription medications. Even if you’re not currently taking any prescription drugs, it’s wise to consider enrolling in a standalone Part D plan or a Medicare Advantage plan that includes drug coverage.

If you choose not to enroll in Part D when you’re first eligible and don’t have other creditable prescription drug coverage (such as through an employer or union) or qualify for Extra Help, you’ll likely face a late enrollment penalty when you eventually join a plan.

Typically, this penalty will continue for as long as you have Medicare drug coverage.

Medicare Part D prescription drug coverage information in Ft. Lauderdale, FL.

Avoid Late Enrollment Penalties

If you don’t enroll in Original Medicare when first eligible, you could incur recurring penalties that, in some cases, must be paid for the rest of your life.

A

Part A Penalty

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B

Part B Penalty

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D

Part D Penalty

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Frequently Asked Questions

Answers to Common questions about Medicare for seniors.

1When should I enroll in Medicare?

Most people should enroll in Medicare during their Initial Enrollment Period, which starts three months before the month you turn 65 and ends three months after the month you turn 65. If you’re still working and have employer coverage, you may be able to delay enrolling without a penalty.

2What happens if I don’t enroll in Medicare on time?

If you don’t enroll in Medicare when first eligible and don’t have other creditable coverage, you may face late enrollment penalties, which can increase your premiums and be applied for as long as you have Medicare coverage.

3Can I keep my doctor under Medicare?

Under Original Medicare, you can see any doctor or specialist who accepts Medicare. With Medicare Advantage, you may have to choose doctors within a plan’s network.

4What if I’m still working and have insurance through my employer?

If you have employer-based insurance, you may be able to delay enrolling in Medicare Part B without a penalty. However, it’s essential to coordinate your benefits carefully to avoid gaps in coverage.

5What should I consider when choosing a Medicare plan?

Consider your healthcare needs, the costs of premiums and out-of-pocket expenses, the plan’s network of doctors and hospitals, and whether the plan includes prescription drug coverage.

Contact Medicare Headquarters - Ft. Lauderdale, FL

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