Medicare Programs

Medicare programs are divided into four parts namely hospital insurance (part A), medical insurance (part B), Medicare advantage managed care plans (part C) and prescription drug plans (part D). People who have attained sixty five years of age are eligible to opt for the Medicare programs. You can either go in for the complete package of a Medicare program or choose any from the package. However, the enrollment process of one program differs from the other. Additionally, the process can also vary based on whether you are receiving any pension benefits or not. If you are approaching sixty five years of age and are receiving benefits like rail road retirement, social security, federal civil service pension benefits, survivors benefits, retirement disability benefits then you don’t have to take up any measures to enroll yourself in the hospital insurance benefit. Instead the social security administration will do it for you. However, if you fail to collect any of the following then you will have to contact your local social security office so as to apply for the hospital insurance.

If you are already receiving rail road retirement, social security, dependants or survivors benefits then you are eligible for the automatic enrolment of the medical insurance (part B). However, if you aren’t interested to go in for this, you can mention so in the form that will be provided to you by the social security administration. On the flip side, you will have to pay a monthly premium if you are enrolling yourself in the Medicare part B program. As in the case of part A program, here too you need to contact your local social security office so as to sign up for the part B Medicare program. This rule of thumb goes for those who have not collected any social security even after attaining sixty five years of age.

Medicare advantage managed care plans is a combination of Medicare part A as well as part B. you can enroll yourself in this program within six months of enrolling in the hospital insurance and medical insurance.

You can straightway enroll in the Part D Medicare program during the initial enrollment period. This period usually starts three months before you are supposed to reach sixty five years of age and continue until three months after you have attained sixty five years of age.

Now, that you have the divisions in front of your eyes, choose your desired program and pave your way to a successful Retirement Planning.

By: Elsa Thomas

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I am Elsa Thomas and I would like to share my views on Medicare Programs