Turning 65: What to Consider When Selecting a Medicare Plan

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Approaching the age of 65 can be an overwhelming time for many recently acceptable Medicare beneficiaries. When can you start enrolling? What plans should you consider? what do you need to know Here is some information that may help.You have a seven-month window called the Initial Enrollment Period (IEP) to enroll for Medicare benefits, which begins three months before the month you turn 65. You are first eligible for Medicare coverage at the beginning of your birthday. Month. If your current benefits end after you turn 65, it's important to start researching and comparing your Medicare options early to make sure there isn't a gap in your coverage.    There are several  types of Medicare   plans available:* Medicare Part A (Hospital) and Medicare Part B (Medical) o Original Medicare is operated by the federal government and includes Parts A and B, which provide medical and hospital  coverage.     Part A is free for most people, so it's important to evaluate your options once you're eligible for Medicare.* Medicare Part C (Medicare Advantage) o Offered by  private insurance companies accredited by Medicare and can be considered an “all-in-one” alternative to Original Medicare.    These plans include all of the coverage provided by Medicare Part A and B, and some may include additional benefits such as prescription drug coverage, routine dental, vision and hearing care, as well as innovative   offerings such as fitness programs, healthy food debit cards for those include that qualify to do so; and transportation benefits to help you get to doctor   * Medicare Part D (Prescription Drug Plans) or Original Medicare does not cover most prescription drugs, so you must sign up for a standalone Prescription Drug Plan (PDP), if you are enrolled in Original Medicare.   These Part D plans are offered by Medicare-approved private insurers such as Humana.* Medicare Supplemental Insurance (Medigap) o Like Medicare Advantage, these plans are offered by private insurance companies and can help cover some of the healthcare costs that require Part A includes and does not include Medicare B, such as co-insurance, co-payments, or deductibles .   When choosing a prescription drug plan, you should make sure you have coverage for the drugs you are currently taking  and compare your costs between different plans. Some plans also take action to help you save  money, such as Humana. They suggest cheaper or generically equivalent drugs to their members when  available. And when it comes to costs, look beyond the monthly premium and factor in additional out-of-pocket expenses. Always evaluate the total cost of the plan, including co-payments or co-insurance, and the deductible, as well as which pharmacies are in the network.While the many plan options may seem overwhelming, resources are  available to help you  choose the Medicare coverage that best suits your needs.Medicare's health insurance plan search tool. Medicare.gov makes it easy to  compare the benefits and costs of different plans. Other resources on sites like Humana.com provide helpful information to consider when purchasing plans, such as:While it's helpful to plan ahead, rest assured that you can change your plan as your needs change during the Medicare Advantage  Prescription Drug Advantage Plan's annual enrollment period, which runs from October 15 through November 7 each year December.