There are many differences between Original Medicare and Medicare Advantage plans in Florida. To understand these differences is another story.
Nationwide, people are moving to Florida to retire. With warm climate all year around and sandy beaches, you can’t blame them. With retiring or reaching the age of 65 years old comes planning. One thing often overlooked is Healthcare. Many people just believe they get enrolled in Medicare and that’s it. However, Medicare comes with many gaps in coverage such as dental and vision. Don’t worry, you have options. You can stay on Medicare and get a supplemental plan or enroll in Medicare Advantage.
With original Medicare, your benefits come from the Federal Government. Original Medicare comes in two parts, Part A and Part B. Medicare Part A is your hospital insurance. Whereas Medicare Part B is your medical insurance that covers medical services and supplies.
Many seniors on original Medicare may pick up a supplemental plan. Medicare supplemental plans pick up Medicare’s co-insurance amounts. They also pick up Medicare Part D plan to assist with prescription costs. These plans do have their own premiums, which would be in addition to the Part B premium of $144.60 a month.
An alternative plan you might want to take a look at is the Medicare Advantage plans in Florida. These plans provide Medicare benefits through a private-sector health insurance carrier. Original Medicare comes with many different parts. Whereas, Medicare Advantage is like having an all-in-one healthcare solution. Medicare Advantage looks and works very much like what many people had under employment or group coverage.
By 2030, all Baby boomers will be age 65 or older. Florida being the retirement state we are Here 4U with Medicare Enrollment help!
You will get a lot of information about healthcare when you turn 65 years old. Healthcare should be top of your list during this time as you have an Initial enrollment Period (IEP), which starts three months before your sixty fifth, the month of your 65th birthday and three months following.
Most people turning 65 will become eligible for Medicare. There’s a different process when you are collecting retirement benefits verses signing up during your Initial Enrollment Period.
You can become automatically enrolled in Medicare Part A and Part B. If you receive Railroad retirement benefits or Social Security retirement benefits. However, if you do not receive either of these, you’ll need to enroll yourself in to Medicare. Keep in mind that you will not need to contact Medicare if you’re eligible for automatic enrollment. You may become eligible if you are receiving Railroad retirement benefits or Social Security benefits.
About three months before your coverage starts, your Medicare card should arrive in the mail and will come from the Social Security Administration (SSA) or the Railroad Retirement Board. With your new card, you’ll receive a letter. This letter will not only explaining your automatic enrollment in Medicare Part A and Part B. It also provides an overview of how Medicare works.
You might not elect to register for Part B if you’re currently under insurance through your spouse’s employer insurance (Employment-Based Insurance). If you’re currently not covered under what is considered qualified medical insurance and you turn down part B you may receive a premium penalty. The premium penalty can be applied should you ever enroll in Part B down the road in the future.
Errors do happen. So always protect yourself from receiving premium penalties by keeping proof of your enrollment. Always write down the representative’s name and date of who you spoke with. If you elect to enroll by mail you should always use certified mail and always keep a return receipt.
Medicare does change their policies from time-to-time. So please double check this information when enrolling with Medicare.
