Supported by American taxpayer contributions, Medicare is a valuable resource for seniors looking for affordable health insurance. But while it’s easy to recognize the cost-saving benefits of this program, figuring out how to enroll can be a little more complicated. Helping Colorado residents navigate the process, Mary Marshall Medicare - Independent Broker answers a few common questions about signing up for Medicare.

5 Medicare Sign-Up FAQs

When Should I Sign Up?

Individuals become eligible to enroll three months before their 65^th birthday. Since enrollment closes three months after turning 65, it’s a good idea to sign up as soon as possible. In many cases, particularly for those without employer-sponsored health insurance, late enrollment can result in penalties.

What Coverage Do I Need?

There are several parts of Medicare that cover different elements of care, so it’s important to assess your needs and current coverage. Part A covers hospital stays, nursing and hospice care, and some home health services. Medicare Part B, applies to select doctor visits, preventive care, medical supplies, and outpatient treatment. Medicare Part D is reserved for prescription drug coverage.

Even if they currently have health insurance, most people will sign up for Part A, as its premium costs are already covered by previous payroll contributions. While Part B and D do require premium payments, they can help minimize the costs not covered by other policies.  

How Can I Supplement Coverage?

Since standard Medicare plans do not cover all health care needs, many enroll in Medicare Advantage (or Part C) as an alternative. This is a private-based plan that can include benefits typical to Parts A, B, and D, while offering other advantages—such as HMO and PPO options—for an additional cost.  

What Will It Cost?

While Part A costs are usually already covered for individuals who have contributed for at least ten years, other plans do require premiums. These costs vary depending on your income level and eligibility for financial assistance.

How Should I Find a Plan?

Medicare.gov is the official resource for exploring plans independently. However, these results are often overwhelming and difficult to choose from. As such, many find that it’s beneficial to work with an agent or advisor who specializes in helping clients find the ideal coverage for their needs.

If it’s time for you to start exploring your coverage options, Mary Marshall is a reliable resource for seniors in the Denver area. Located in Lakewood, CO, this independent broker has direct experience with Medicare plans and financial assistance programs. Providing undivided attention to every client, Mary will take time to assess your current health insurance coverage, medical needs, eligibility, and budget to connect you to the best policies available. To learn more or set up a consultation, call this friendly broker at (303) 241-6665.