What Are Your Options For Medicare Coverage?

The Medicare system can seem difficult to understand at first, and there are many different options for you to choose from. When you are ready to get Medicare in Freeport IL, it is important to understand what is available so you can structure a health care plan that meets your needs.

First, keep in mind that if you are employed and have health insurance through your employer, or you have another source of health insurance (for example, though an employed spouse), you can opt out of certain parts of Medicare in Freeport IL when you reach the eligible age of 65. You will be automatically enrolled in Part A (hospital care) when you turn 65, but you can defer enrollment in Part B (doctors visits) while you are still on another plan. If you defer enrollment in Part B and you are not covered by another insurance plan, you will likely have to pay more when you enroll later.

If you are not covered by another insurance, you can enroll in both Parts A and B when you turn 65, and you can also choose to enroll in a Medicare Advantage plan (sometimes called Part C). These are health plans covered by private insurance that provide supplemental coverage for things that Medicare in Freeport IL does not cover. There are also plans available called Medigap that provide supplemental coverage from private insurers.

Finally, you can enroll in Medicare Part D if you need coverage for prescription drugs. Part D plans help pay for the cost of prescriptions up to a certain amount each year.

Some of the most common reasons people purchase additional insurance involve having medical needs that exceed the limits of what Medicare will cover, including chronic conditions such as diabetes. Even if you do not currently have a need for extra service, family history or other factors may contribute to an expectation that you will need it in the future and you may want to purchase it to be prepared. Additionally, if the amount you would be paying out of pocket under traditional Medicare would be more than you can afford, getting supplemental coverage could help alleviate some of those costs.

The most common reasons people do not purchase additional insurance coverage for Medicare in Freeport IL are not having a need for extra coverage, being able to easily afford out-of-pocket expenses, or not having enough money to cover the extra costs of the supplemental plans.

When you are ready to enroll in Medicare, talking to an insurance agent with experience in the program can help you figure out all the paperwork, deadlines, and differences to make the best decision on which type of coverage to choose.