Turning 65 for many means the beginning of your Golden Years. The first step is usually applying for Medicare. That is relatively easy. You contact Medicare directly and apply by phone or even online. Usually done same day. This may be complicated if you are still working and have group medical insurance. You will want to check with your employer first to see what your next steps should be.
Now that you have applied for Medicare Part A and B the confusion sets in! Medicare only pays for 80% on average of your medical bills and has no prescription drug coverage. This means you definitely want to add some additional coverage to reduce your financial risks. There are two different types of plans. Medigap or supplement plans or Medicare Advantage plans. They are very different options with pros and cons to each. We are lucky in NC to have so many wonderful choices. Understanding these plans will take some time. Once you have an idea what type of plan you want, then it is evaluating all the different company choices. Not an easy task even for us.
An independent insurance agent can be a great resource. We are free to use. The price is the price on these plans no matter how you buy them Why not make life easy and use an experienced agent to help you make this important decision. We will review your individual situation and advise you on the best type of plan for you as well as the best company for you in your area. We are also there down the rod when you have questions or problems.
You have seven months to make this important decision. Three months before your birthday month, the month of your birthday and three months after your birthday. After that you can only enroll or change plans during open enrollment season which is usually October 15th through December 7th.
Don’t be overwhelmed. Call an independent agent to help.