Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and those suffering from end-stage renal disease.

It’s imperative that you know what Medicare covers before turning 65 so your future healthcare needs can be met without any confusion! We’re here to make life easier by educating you in more detail about how Medicare works.

There are many things to consider when you turn 65, but one thing that often gets overlooked is signing up for Medicare. For some, enrollment in Medicare is done automatically. This happens if you are currently getting Social Security benefits. If you are not, you’ll want to enroll in Parts A and/or B when you first become eligible, which will be during your Initial Enrollment Period.

This period starts three months before your 65th birthday and will last for a total of seven months. Missing this enrollment period is not recommended as you will have to pay late enrollment penalties for doing so unless you qualify for a Special Enrollment Period which only happens in certain circumstances.

Medicare Part A will provide coverage for the following services:

• Inpatient hospital care
• Home health care
• Hospice care
• Nursing home care
• Skilled nursing facility care (as long as it’s not long-term care)
• 
  

Medicare Part B will cover:

• Outpatient medical care
• Preventive services
• Medically necessary services
• Mental health care
• Durable medical equipment
• Ambulance services

Part A and B coverage combined is known as Original Medicare.

Medicare Part C is commonly referred to as Medicare Advantage. To enroll in Medicare Advantage, you have to be enrolled in Original Medicare. 

Medicare Advantage will provide the coverage that’s included in Original Medicare, but will also include additional benefits, such as:

• Prescription drug coverage
• Dental coverage
• Vision coverage
• Hearing coverage
• Over-the-Counter Items
• Gym memberships
• And more

Medicare Part D is the prescription drug plan that provides coverage for your prescription drugs. Each plan is required to cover two drugs from each class. They are also required to cover all drugs that are considered:

• Immunosuppressants
• Anticonvulsants
• HIV/AIDS drugs
• Antipsychotics
• Anticancer
• Antidepressants

To enroll in Part D, you need to be enrolled in Part A and/or Part B.