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If you have COBRA and then become eligible for Medicare, usually at age 65, then you must enroll in Part A and B during your Initial Enrollment Period. Your COBRA typically ends when your Medicare begins.

If you decide to leave an MAPD and return back to Original Medicare, you must notify your Medicare Advantage plan carrier. Otherwise Medicare will continue to show that you are enrolled in the Advantage plan instead of Medicare.

Many people new to Medicare feel surprised to find that Medicare covers only 80% of your Part B expenses. The other 20% can be devastating to you financially if a serious illness arises. You can choose a Medicare Supplement that will pay some or all of that 20% for you, among other things. Supplemental insurance for seniors with Medicare essentially buys you peace of mind by eliminating that cost-sharing responsibility.

You can apply for a Medicare Supplement insurance plan at any time. However, you may be subjected to medical underwriting, which is where insurance companies gather information about your health history and use past or current health conditions as grounds to charge you more for a plan or reject you from a plan.

Fast Fact: Each year, it’s important to review your Medicare health and drug coverage and make changes if it no longer meets your needs, or see if you could lower your out-of-pocket costs. You don’t need to enroll in Medicare each year, but you should still review your options.

Turning 65 in 2022? Confused about your Medicare Options? Contact us for a consultation, we will educate you on your options.

You can also qualify for Medicare under these circumstances when you are under age 65: If you are permanently disabled and you have been receiving Social Security disability income benefits for 24 months. When you have end-stage renal disease, which is kidney failure that requires you to get dialysis or you are waiting for a kidney transplant. If you have Amyotrophic Lateral Sclerosis (ALS), also called Lou Gehrig’s disease

Who is eligible for Medicare part D?
Anyone who is enrolled in either Medicare Part A or Part B (or both) is eligible to enroll in Part D. You must enroll when you are first eligible unless you have other creditable drug coverage. Otherwise, you will be subject to an expensive late penalty for Part D later one.

Many people confuse their Medicare Eligibility date with their Social Security retirement age. They are different. A person can apply for full retirement income benefits at around age 67. This is considered their retirement age. However, this does not affect the age at which they qualify for Medicare.

There is no such thing as a Medicare retirement age. The normal Medicare eligibility age for Medicare is age 65, whether you have retired or not. You can qualify for Medicare coverage at age 65 (or older) if you are a U.S citizen or a permanent resident and you’ve lived here continuously for 5 years or more.

How long do you have to work to be eligible for Medicare?
Your eligibility for Medicare is not based on your work history. However, people with at least 10 years (40 quarters) of paying Medicare payroll taxes will get Part A services without paying premiums once they are eligible.

Your Formulary is a list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Also called a drug list.