MONDAY, JUNE 21, 2021
Most people qualify for Medicare as they near their 65th birthday. In some cases, you will be automatically enrolled in Medicare once you qualify. In other circumstances, you will have to manually sign up for Medicare.
If you already receive Social Security retirement benefits, you may be automatically enrolled in Part A and Part B Medicare. Otherwise, you will have to manually enroll.
Keep in mind that you must sign up within the enrollment period. The enrollment period for Original Medicare starts three months before the month you turn 65 and runs until the end of the third month after you turn 65, meaning there is a 7-month period in which you can sign up for Original Medicare.
Original Medicare vs Medicare Advantage
If you qualify for Original Medicare, you automatically qualify for Medicare Advantage. In fact, you cannot purchase a Medicare Advantage plan unless you already have Original Medicare.
The main difference between these two plans is that Original Medicare is a federally mandated program whereas Medicare Advantage plans are offered by private insurers. Medicare Advantage plans often provide more coverage than Original Medicare, along with coverage for prescription drug costs. Medicare Advantage plans are also known as Part C Medicare.
There is no set rule as to which type of Medicare is better, as every individual’s health coverage needs vary. If you are unsure about what type of Medicare is right for you, be sure to speak with a Medicare agent and your family to discuss your options.
What Happens if You Miss the Original Medicare Window?
Say you miss the window after you turn 65 and fail to sign up for Original Medicare. Does this mean that you can never get Medicare?
In short, no. You can still receive Original Medicare even if you miss the original window, but you will have to wait until the open enrollment period, which allows you to sign up for Original Medicare. Keep in mind that you must do this before purchasing a Medicare Advantage plan. Both Original Medicare and Medicare Advantage have certain times throughout the year that allows you to change or enroll in a policy.
Ask your Medicare agent about what times are right for you. It is recommended that you do not miss the open enrollment period around your 65th birthday, however, because missing the period means you have to wait for coverage.
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