Maximize Savings with New Medicare Options for Seniors

November 18th, 2019

A recent report from The New York Times highlights that only around 10% of Medicare beneficiaries are utilizing a critical enrollment window that can lead to significant savings. Research by the Kaiser Family Foundation emphasizes the importance of timely enrollment to avoid hefty penalties and maximize benefits.

Timing Is Key
Enrolling during the open enrollment period, from October 15 to December 7, is crucial. It’s recommended to sign up three months before your 65th birthday or within three months afterward to avoid monthly penalties. The same rules apply for Part D plan enrollment.

Understanding the different parts of Medicare helps in making smart choices:

Medicare Part A provides coverage for hospital stays, skilled nursing, hospice, and home health services. It primarily covers short-term inpatient care.

Medicare Part B includes outpatient services and preventive treatments like vaccinations and screenings. Both Part A and B form the 'Original Medicare' plan, provided by the government.

Medicare Part C consists of Medicare Advantage Plans offered by private insurers, combining Parts A and B with additional benefits such as dental and wellness programs.

These private plans often cost less than standard Medicare and sometimes offer extra coverage options.

Medicare Part D covers prescription medications, supplied through private companies with varying costs and coverage options.

Supplemental Insurance helps cover copayments and costs not included in Parts A and B.

To reduce premiums, compare plans to find the most suitable option. Checking eligibility is quick and free, taking just 2 minutes.

Follow These 3 Simple Steps to Save Money!

Choose your state below

Answer a few questions about your health

Explore available coverage options and savings opportunities

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