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My Medicare Matters: Are You Turning 65?

If you are nearing 65 and may be eligible for Medicare, you likely have questions about the coverage and benefits. MMAP has some answers for you!

If you are still working and have insurance through your workplace, talk to your HR director at work first about how their plan works with Medicare. If you have credible medical and prescription coverage, you may not need to enroll in Medicare Part B or a Part D prescription drug plan, and you won’t be subject to a late enrollment penalty in the future.

If your work plan is ending, you will likely need to enroll in Medicare Part B, and get a Medicare drug plan.

MMAP often counsels persons who take no prescription medications and decided not to get a Medicare drug plan when they enrolled.  Unfortunately, they did not realize that a Part D late enrollment penalty would begin adding up. This year, it’s $0.33 for each month which you’ve gone without coverage. It’s a lifetime, permanent penalty which will be tacked onto your Part D insurance premium monthly once you finally do enroll. Ouch!

If you are already collecting Social Security, you will be mailed information about Part B and its costs, along with your Medicare card, a couple of months before your 65th birthday.  If you aren’t yet collecting Social Security, you should go to the Social Security Administration to enroll in Medicare Part B, a month or two before you turn 65, or when you need to begin your Medicare insurance coverage.

MMAP can explain and compare Part D drug plans and Medicare Advantage plans for you, and give you basic information on Medigap policies and how they work. MMAP can also screen your income to see if you might qualify for Extra Help with Prescription costs or the Medicare Savings Program for help with your Part B monthly premium.

Medicare is complex. Let MMAP help you with the transition onto Medicare. Call us, we’re here to help 800-803-7174.

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