This class provided a foundational understanding of Medicare, its purpose, and who it serves.

Key Takeaways and Next Steps

Medicare Basics

Medicare is a federal health insurance program primarily for individuals aged 65 and older, but also for younger people with certain disabilities. Familiarize yourself with the different parts of Medicare—Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage), and Part D (Prescription Drug Coverage)—to ensure you have a clear understanding of your coverage options.

Eligibility and Enrollment Periods

Knowing when you are eligible to enroll in Medicare is crucial. Typically, you should enroll during your Initial Enrollment Period, which begins three months before you turn 65 and ends three months after.
Be aware of other enrollment periods, such as the General Enrollment Period and Special Enrollment Periods, to avoid penalties and gaps in coverage.

Choosing the Right Coverage

One of your first decisions will be whether to go with Original Medicare (Part A and Part B) or opt for a Medicare Advantage plan (Part C).
Consider your healthcare needs, financial situation, and whether you want additional benefits like dental, vision, and prescription drug coverage when making your choice.

Disclaimer:

Always consult with a licensed Medicare advisor or healthcare professional when making decisions regarding your Medicare options. Understanding the nuances of coverage can significantly impact your healthcare and financial well-being in retirement.

SHIP State Health Insurance Assistance Programs