What is the best way to learn about Medicare?

Question

I will be 65 years old in May, 2007. I would like to learn about Medicare without all the legalese. What is the best way to go about it?

Answer 1

I educate folks every day on Medicare, Part A, Part B and supplemental insurance to cover the "gaps", and there are many. If you contact Medicare, they will send you out a handbook that is completely foreign to most people. The big points you need to know:

About March, you'll want to have your options narrowed down. Do you want an HMO, Private Insurance, PPO, or does your retirement plan provide health benefits after you turn 65?

You do want part A (which is free) and Part B (which you pay out of your social security.

A: Hospital Coverage. This covers 80% of your hospital stay. It does not cover the doctors that tend to you there.

B: Doctor/Specialist/Surgeon coverage. This covers 80% of your doctor visits, lab work, specialists, and surgeons. You will probably use this the most.

Then depending on your goals, you want to pick a couple providers of the Medigap coverage. The big companies are: State Farm, Mutual of Omaha, AARP, and Bankers Life.

3 months prior to your b-day month, and 3 months after, you are in Open Enrollment. There is no health underwriting with insurance companies. Remember HMO's can always deny you based on health. Insurance companies can't if you are in Open Enrollment. If your health is not great, don't miss this window of opportunity.

Depending on your State, you can plan on paying anywhere from $100 - $175 on a supplement.

You will want a plan F supplement or a J in some states. No deductibles, co-pays, and the supplement pays the remaining balance of any doctor bills, hospital bills, etc. that Medicare approves and pays their part.

Let me know if I can help any further. I can mail you a simple brochure outlining what Medicare Covers, and what they Don't. Just e-mail me your address and I'll get it out for you. Hope that gets you started.

Answer 2

Here is a crash course
Americans that work pay into a system called Social Security- remember since you were a kid your check always had with-holding tax? This was to pay for your social security benefits, when you turn 65, you are entitled to "your benefits" prior to your 65 you should make an appointment "over the phone or in person" at your local Social Security office to sign up for Parts A & B. Upon your 65th birthday you will have your Medicare card! Now the fun starts, all the companies, Aetna, Blue Cross/ Blue Shield, Secure Horizons, Cigna, Human, AARP will come after you like a ice cube in the desert, they all want your buisiness. You are probably wondering why????
As a Medicare recipient you can pick a Supplemental Plan, or the more popular assignment into a HMO Program. What is the difference??
A. Medicare Supplemental plan, does what it says- it supplements the amount Medicare will pay a Dr. who accepts medicare. Basically you can choose from varying plans which pay out the percentage that Medicare parts a and b will not pay. Hence the word Supplement- it will supplement the medicare plan! Plan F (about 130.00 a month) is the most popular as it pays out the most, the difference on most Medicare Supplemental plans is that some work within a network of providers (PPO) and some will allow you to see any Dr. in America who Accepts Medicare as your primary and then pay the supplmental amount. If you choose to go with a supplemental plan you will also need to sign up with Part D plan, you can go with the same carrier or pick another, these are very low cost (4-33.00 a month) one of the most important part of these plans is to ask for the formulary (list of the RX that are covered) check to see that the drugs you take are covered.

HMO plans, these are super popular because they are normally free or very little per month!..You are probably wondering why are they free, what is the catch.. well the catch is that you are assigning your medicare benefits to the company you pick.. So in fact the HMO will collect from medicare hundreds of dollars to provide you medical coverage (approx. 700. per month per person at 65!!!).. now you are probably figuring out why so many people are calling you for your business, this is quite profitable.

Things to know, when a citizen turns 65 and qualifies for medicare parts a b, and d, you have 6months to pick a plan- and during this time you are guaranteed acceptance- regardless of any health conditions!

Lots more to know, so speak to lots of people, review, read, and you will figure it out, remember every year at January is Open Enrollment!

good luck

Answer 3

I would recommend going right to the source. www.medicare.gov
there's a section entitled "medicare and you" it's rather long, but it will give you all the info you need as to how medicare works, what you can expect to pay, as well as some insight in choosing your medicare supplemental insurance as well.

Good luck

Answer 4

Medicare is run by Social Security. Contact Social Security and get their brochure.

Answer 5

Your local Social Services agency or Social Security Administration office. You can also go online www.medicare.gov.

Answer 6

Call Aetna's 1800 number and ask about medicare, i just remember seeing their commercial today about how they want people to call them to ask about medicare.
Google search for their 1800 number.
Good Luck!!