Understanding AARP and Medicare
Navigating through the complex world of health insurance can be a daunting task, especially for those who are new to Medicare. AARP (American Association of Retired Persons) is a non-profit organization that offers a wide range of benefits and services to individuals over the age of 50. One of the most important services provided by AARP is access to information about Medicare, the federal health insurance program for people over 65 and those with certain disabilities. Understanding the different parts of Medicare can be confusing, but with the right guidance, you can choose the plan that’s right for you and your needs.
Medicare Parts A, B, C, and D
Medicare is divided into four parts, each covering different aspects of medical care. Part A covers hospital stays, skilled nursing facility care, hospice care, and home health care. Part B covers doctor visits, outpatient care, medical equipment, and preventative services. Part C (also known as Medicare Advantage) is a combination of Parts A and B, offered by private insurance companies that are approved by Medicare. Part D is prescription drug coverage, offered through private insurance companies.
Understanding Supplemental Policies
Medicare supplement insurance (aka Medigap) can help fill in the gaps of Original Medicare. These policies can help cover costs not included in Parts A and B such as copayments, coinsurance, and deductibles. Supplemental policies are sold by private insurance companies and can provide additional peace of mind for those who may need more coverage.
When to Enroll in Medicare
It’s important to know when to enroll in Medicare – missing the deadline can result in penalty fees. Enrollment begins three months before your 65th birthday and ends three months after. For those who are still working and have health coverage, you may choose to delay Medicare enrollment without penalty. However, this is an important decision and should be discussed with a qualified professional to avoid any surprises down the road.
Conclusion
Navigating through AARP Medicare information can seem overwhelming, but it’s worth the time and effort to find the right coverage for your needs. Understanding the different parts of Medicare, supplemental policies, and enrollment periods can help you make informed decisions about your health insurance. With the right guidance, you can ensure that you have the best coverage for your health and peace of mind.
