Medicare is something most Americans will need to file for at some point in their lives. Once you hit the age of 65, you will most likely need to enroll in a Medicare plan. Many people are misinformed or don’t know much about Medicare, the enrollment process, and the care and coverage details. Check out this guide on what you need to know about Medicare.
Prescription medications are not covered
It surprises most people to learn that Medicare does not automatically cover prescription drugs. Part A and Part B of Medicare do not cover this, but you have the option of adding on Part D, which is prescription drug coverage. It covers certain common drugs, but it’s not guaranteed the drugs you take will be covered. You may still have a co-pay on prescription drugs your Part D plan does cover.
There are set enrollment periods
There are set periods when you can enroll in Medicare. You’re first eligible during the Medicare Initial Enrollment Period, which is about seven months long, beginning near your 65th birthday or on your 25th month of Social Security disability benefits. If you miss the deadline for the IEP, you can enroll during the Medicare General Enrollment Period. This is from January 1 to March 31 every year, but there is a possible fee for late enrollment.
Virtual health care may be available to you
A new feature in 2020, some Medicare plans will pay for telehealth benefits. This means patients can receive virtual check-ins with medical care staff. This is part of an effort to accommodate those with chronic health conditions. There is also a possibility your plan will cover transportation to health care appointments, meals at home, and home safety measures, such as a stairlift. These are not covered in all plans or for all people. Check the Medicare website to find the right plan for you.
While there is still a lot more to understand about Medicare, these are the basics that can help get you started. There are many misconceptions about Medicare coverage, so talk to an advisor or visit the Medicare website for more detailed information and help signing up and choosing the right plan for you.