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Read this important information explaining when to sign up for Medicare, based on your situation. Or you may be able to wait until you retire to sign up during a special enrollment period. If you are not ready to receive Social Security benefits at 65 because you are still working, you can apply online for Medicare only.You may have to pay a penalty if you miss your Initial Enrollment Period. The Initial Enrollment Period to sign up for Medicare begins 3 months before you turn 65 and ends 3 months after the month you turn 65-a total of 7 months.If you apply for Social Security 3 months before you turn 65 or later, you can sign up for Medicare when you apply for Social Security.If you begin receiving Social Security retirement benefits between age 62 and up to 4 months before turning 65, you will be automatically enrolled in Medicare Part A and Part B when you turn 65.There are several ways to enroll in Medicare: Learn more about the parts of Medicare, how it works, what it costs, and how to prepare to sign up.
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Medicare Part D covers prescription medications.Medicare Part C (Medicare Advantage Plans) is a private insurance option for covering hospital and medical costs.Learn how to cancel Medicare Part B coverage if you no longer want it.Medicare Part A is insurance for hospitalization, home or skilled nursing, and hospice.If you are under 65, you may be eligible to get Medicare earlier if you have a disability, End-Stage Renal Disease (ESRD), or ALS (Lou Gehrig’s Disease). However, Medicare Advantage Plans can also provide additional benefits that Original Medicare does not cover, such as routine vision or dental care.Medicare is the federal health insurance program for people who are 65 and over. You must continue paying your Part B premium to qualify for the plan. On the other hand, Medicare Advantage Plans typically have network restrictions, meaning that you will likely be more limited in your choice of doctors and hospitals. Before enrolling in Medicare Part C, take a look at the costs you may incur: Premium: Your Medicare Part C premium depends on the plan you choose. For instance, in Original Medicare, you are covered to go to nearly all doctors and hospitals in the country. How you choose to get your benefits and who you get them from can affect your out-of-pocket costs and where you can get your care. It is important to understand your Medicare coverage choices and to pick your coverage carefully. Each Medicare Advantage Plan must provide all Part A and Part B services covered by Original Medicare, but they can do so with different rules, costs, and restrictions that can affect how and when you receive care. This means that you must still pay your monthly Part B premium (and your Part A premium, if you have one). Remember, you still have Medicare if you enroll in a Medicare Advantage Plan. Instead of Original Medicare, you can decide to get your Medicare benefits from a Medicare Advantage Plan, also called Part C or Medicare private health plan. Unless you choose otherwise, you will have Original Medicare. Note: There are a number of government programs that may help reduce your health care and prescription drug costs if you meet the eligibility requirements. If you want prescription drug coverage with Original Medicare, in most cases you will need to actively choose and join a stand-alone Medicare private drug plan (PDP). There are limits on the amounts that doctors and hospitals can charge for your care.You typically pay a coinsurance for each service you receive.You are responsible for a monthly premium for Part B.You do not need to get prior permission/authorization from Medicare or your primary care doctor. You go directly to the doctor or hospital when you need care.You can see any doctor and hospital that takes Medicare (and most do) anywhere in the country. Under Original Medicare, the government pays directly for the health care services you receive. It is sometimes called Traditional Medicare or Fee-for-Service (FFS) Medicare. Most beneficiaries choose to receive their Part A and B benefits through Original Medicare, the traditional fee-for-service program offered directly through the federal government. Generally, the different parts of Medicare help cover specific services. Part D provides prescription drug coverage.Part C offers an alternate way to receive your Medicare benefits (see below for more information).Part B provides outpatient/medical coverage.Part A provides inpatient/hospital coverage.There are four parts of Medicare: Part A, Part B, Part C, and Part D.