Medicare 101: When to Sign Up

Did you recently receive “Medicare & You 2025” in the mail? The 132-page “official U.S. government Medicare handbook” is chock full of information, but it is a lot to wade through. Don’t worry though – we have your back. Our Medicare series will cover the most important things you need to know about Medicare, along with some of our insight.

What are the various Medicare Parts and what do they generally cover?

There are four Medicare Parts:
Part A: Hospital Insurance covers inpatient hospital care, skilled nursing facility care, hospice care and home health care.

Part B: Medical Insurance covers doctor (and other healthcare provider) visits, outpatient care, home health care, preventive services, and durable medical equipment.

Part C: More commonly known as Medicare Advantage, Part C is an alternative option to traditional Medicare, and it incorporates Parts A and B, and usually Part D. (We will discuss the advantages – and more importantly, the DISADVANTAGES of Medicare Advantage in an upcoming post.)

Part D: D is for Drug Coverage, and it helps cover the cost of prescription medications, as well as many recommended shots and vaccines.

At what age do I qualify for Medicare?

Unlike Social Security which can be taken starting at age 62, you cannot qualify for Medicare until you are 65 years old. It is important to sign up when you are first eligible or there could be late enrollment penalties.

When to Enroll?

Turning 65? You have a 7-month enrollment period which begins three months before your 65th birthday and ends 3 months after the month of your birthday.

If you are ALREADY collecting Social Security, you will automatically get Part A and Part B starting on the first day of the month of your birthday.

If you are close to 65 but not yet collecting Social Security, you will need to sign up for Medicare.

Stay tuned for Part 2, where we look at the importance of reviewing your plan each year.

The information provided herein does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available here are for general informational purposes only.