What is Medicare

Health insurance

Medicare is health insurance. It is administered by the government and enrollment can be done through Social Security. In order to qualify for Medicare, you typically must reach a certain age. Those who have paid into Medicare taxes for the required amount of time will be able to enroll and will not be required to pay the Part A premium.

There are two different areas of Medicare that must be understood…

Original Medicare

Original Medicare consists of Parts A and B. It is a basic level of health insurance and many prefer it because of lowered bills. However, there is no flexibility offered through Original Medicare. If you are enrolled in Original Medicare, you may purchase a Medigap policy. If you do want to be able to make changes to your coverage, consider Medicare Advantage.

Medicare Advantage

Part C, or Medicare Advantage, allows the beneficiary to establish which areas of coverage will be included in their policy. While all Part C policies include Original Medicare coverage as a baseline, there are many other options that can be added on. If you choose Medicare Advantage, you will not be able to enroll in Medigap.

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Ready to enroll?

Medicare is an excellent option for health insurance during retirement. It can greatly reduce financial responsibilities and lower medical bills. If you have questions about enrollment or would like to begin the process today, contact us to learn more.