Intro to Medicare

Medicare is a federal health insurance program designed to help those 65 and older, as well as certain younger individuals with disabilities or specific medical conditions, access affordable healthcare. Medicare rules affect beneficiaries differently, so understanding your benefits is important. 

Medicare coverage can vary in many ways from one beneficiary to another, based on their existing benefits and eligibility, both inside and outside of Medicare.

Medicare can seem overwhelming at first, but that’s why I’m here. I’ll break it down for you, answer your questions, and help you make informed decisions about your healthcare coverage.

 Medicare rules affect eligibility as well. For example, you’re eligible for Medicare if:

• You are 65 or older.
   
• You have received Disability Income for more than 2 years (24 calendar months).

• You’re under 65 and have a qualifying disability, like end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS).
   
• Even if you don’t have health insurance through work or any other plan, you’re still entitled to Medicare when you turn 65.

The best time to sign up for Medicare is during your Initial Enrollment Period (IEP), which begins 3 months before your 65th birthday and lasts 3 months after. If you miss your IEP, there may be other election periods (Special Election Periods, SEPs) that allow you to enroll in coverage. 

You may face penalties or delays in coverage if you do not enroll in coverage during your IEP, so it’s crucial to consult an advisor to understand your options and avoid any issues.

Each year, the Medicare Annual Enrollment Period (AEP) runs from October 15th to December 7th.