If you have approached retirement age, you may be concerned about your future health care costs. Medicare is a government program designed to provide individuals age 65 and older with affordable health care coverage. If you are interested in applying for Medicare benefits, here is what you need to know about applying for Medicare.
Applying For Original Medicare
The standard Medicare offering is Original Medicare, which consists of Part A hospital insurance and Part B medical insurance. To apply for Original Medicare, you must meet certain criteria. One requirement states that the applicant must be age 65 or older. If the applicant is under the age of 65, they must be diagnosed with one of several qualifying disabilities. The list of qualifying disabilities include diseases like end-stage renal disease and amyotrophic lateral sclerosis.
Once you have determined that you meet the application criteria, consider the Medicare benefits you are interested in enrolling in. If you want both Part A and Part B, you will need to apply for both policies. The best time to enroll is during the initial enrollment period, which begins three months before your 65th birthday, includes the month you turn 65, and ends three months after that birthday passes. If you don’t choose to enroll during this period, you can still enroll during other enrollment periods but may risk incurring a late enrollment penalty.
To apply for Original Medicare, you will need to submit an application on the Medicare website. This application will ask for some basic identifying information and require you to answer some related questions. After you submit your application, you can expect a response within 3-4 weeks. Once you have been approved, you will begin to receive benefits on the month of your 65th birthday.
Applying For Medicare Part D
If you need prescription drug coverage to supplement your hospital and medical coverage, you will need to apply for Part D of Medicare. The Part D packages offer a range of prescription drugs at affordable costs, allowing Medicare recipients to access the medicine they need to support medical conditions. In order to enroll in Part D, you must have either Part A or Part B benefits.
The open enrollment period that allows you to join or switch Part D plans occurs between October 15 and December 7. You will need to find a plan in your area that offers the drugs you need and go through their application process. A Medicare professional can help guide you through the Part D policy selection process.
Get Help Applying For Medicare
Are you approaching the qualifying age for Medicare benefits? Get help enrolling in Medicare now. Contact The Fussell Group Insuance Advisors to schedule a free consultation.