Medicare Key Dates – 2008

October, 2008:  Prepare and Compare
Look at the cost, coverage and convenience your current plan will offer in 2009.  Compare with other plans in your area to see if there may be a better choice for you.  Visit www.medicare.gov to find plans in your area.  If you are satisfied with your current plan’s cost, coverage, convenience  and the customer service you get, you don’t need to do anything.  You will remain enrolled through next year without taking any action.  You can also attend seminars provided by insurance companies to learn more about the other plans available in your area, without any obligation to take action.

November 15, 2008:
First day you can apply to change your Medicare health or prescription drug coverage for 2009.

December 31, 2008:
Last day you can apply to change your Medicare prescription drug coverage for 2008.  If you have a Medicare Supplement or Medicare Advantage plan, you may change it during this period (November 15 – December 31), and the new plan will be effective January 1, 2009.  You may also change your Medicare Supplement or Medicare Advantage plan one time between January 1 and March 31, 2009.

January 1, 2009:
New coverage begins if you made a change.

The Different Parts of Medicare
You can get the most from your Medicare benefits by learning what Medicare covers and by taking advantage of all that Medicare has to offer.  Medicare has the following parts:


Medicare Part A (Hospital Insurance) helps cover your inpatient care in hospitals.  Part A also helps cover skilled nursing facility, hospice and home health care if you meet certain conditions.
Medicare Part B (Medical Insurance) helps cover medically necessary services like doctors’ services and outpatient care.  Part B also helps cover some preventive services to help maintain your health and to keep certain illnesses from getting worse.
Medicare Part C (Medicare Advantage Plans) is another way to get your Medicare benefits.  It combines Part A, Part B and sometimes Part D (Prescription Drug) coverage.  Medicare Advantage Plans are managed by private  insurance companies approved by Medicare.  These plans must cover medically necessary services.  However, plans can charge different copayments, coinsurance or deductibles for these services.
Medicare Part D (Prescription Drug Coverage) helps cover prescription drugs.  This coverage may help lower your prescription drug costs and help protect against higher costs in the future.

Your Medicare Plan Choices
• The Original Medicare Plan managed by the Federal government, provides your Medicare Part A and part B coverage.  You are usually charged a fee for each health care service or supply you get.
If you are in the  Original Medicare Plan, you can add drug coverage (Part D) by joining a Medicare Prescription Drug Plan.  These plans are run by insurance companies approved by Medicare.
You can also choose to buy a Medigap (Medicare Supplement Insurance) policy to help fill the gaps in Part A and Part B coverage.
• Medicare Advantage Plans (like an HMO or PPO) are another way to get Medicare benefits.  Medicare Advantage Plans are health plan options approved by Medicare and run by private companies.  Some Medicare Advantage Plans offer coverages not provided by Original Medicare.  If you join a Medicare Advantage Plan that doesn’t offer drug coverage, like a Medicare Medical Savings Account (MSA) Plan or some Medicare Private Fee-For-Service (PFFS) Plans, you may be able to join a Medicare Prescription Drug Plan.
• Other Medicare Plans are plans that aren’t Medicare Advantage Plans, but are still part of the Medicare program, such as Medicare Cost Plans, Demonstrations / Pilot Programs and Programs of all-inclusive care for the elderly (PACE).  These plans provide part A and Part B coverage, and some also provide Part D (Medicare Prescription Drug coverage).

Medicare Frequently Asked Questions

Q.  When can I Sign up for Part A?
A.  If you get benefits from Social Security or the Railroad Retirement Board, you will automatically get Part A starting the first day of the month you turn age 65.  If you are not receiving benefits, you will need to sign up for Part A.  You should contact Social Security 3 months before the month in which you turn age 65 to sign up for Part A.
Q.  How do I enroll in Medicare?
A.  The Social Security Administration handles Medicare eligibility and enrollment.  You can contact the Social Security Administration at 1-800-772-1213 to enroll in Medicare or to ask questions about whether you are eligible.  You can also visit their website at www.socialsecurity.gov
Q.  Will I get Medicare at age 65 if I am not yet eligible for Social Security?
A.  While the retirement age for Social Security is increasing until it reaches age 67, 65 remains as the starting age for Medicare eligibility.  You will be eligible to apply for Medicare at age 65 if you have paid into Social Security for at least 10 years, or you are eligible to receive Social Security benefits on your spouse’s (or your former spouse’s) earnings.
Q.  What about Part B?
A.  Anyone who is age 65 and a citizen, or a lawfully admitted alien with 5 years of residency in the United States, can sign up for Medicare Part B medical insurance and pay a monthly premium.   You should do this 3 months before you reach 65.
Q.  I don’t go to doctors very often.  Why should I pay for Part B until I need it?
A.  You can delay adding Part B to your coverage, but if you do not elect it in your Initial Enrollment Period, which runs for 7 months, starting  from 3 months before the month you turn 65, you will have to wait for the next General Enrollment Period to enroll.  Your premium may go up 10% for each 12 month period that you could have had Part B but did not take it.
Q.  How can I find help making these decisions?
A.1.  The Social Security Administration provides assistance with enrollment and eligibility questions.  You can also visit the Medicare website at www.medicare.gov , where you can run comparisons of the plans available to you in your area.
A.2.  Friends and family members who are already enrolled in Medicare may be able to provide insight to you.
A.3.  Licensed insurance agents can also help you to understand the differences between policies and types of coverage.  Many agents represent multiple companies and can provide impartial advice about the differences in plans based on your anticipated needs for medical coverage.  Purchasing a Medigap, Medicare Advantage or Medicare Prescription Drug Plan through an agent costs the same as doing it on your own.

For more information, contact our trusted agents:

Dave Lindsey
dave@davidlindseyinsurance.com
www.davidlindseyinsurance.com
858/ 245-4796

or

Pete Taylor
pete@petertaylorinsurance.com
www.petertaylorinsurance.com
760/ 448-5705