New to Medicare? Start Here
Turning 65 and unsure where to start with Medicare? Here's a plain-English overview of the parts, your choices, and the first steps to take.
It's normal to feel overwhelmed
Between the TV ads, the stacks of mail and advice from friends, Medicare can feel like a lot. For many people it's also the first time they've picked their own health coverage. At work, the employer usually chose the plan.
The good news: once you understand a few building blocks, the choices make much more sense. This guide walks you through them, and we're always happy to go through it with you one-on-one.
The building blocks: Parts A, B, C and D
- Part A (hospital insurance) helps pay for inpatient hospital stays, short-term skilled nursing care after a hospital stay, hospice and some home health care.
- Part B (medical insurance) helps pay for doctor visits, outpatient care, lab work, x-rays, medical equipment and preventive care.
- Part C (Medicare Advantage) is a private plan approved by Medicare that bundles Parts A and B, and usually drug coverage, into one plan.
- Part D (prescription drug coverage) is a private plan that helps pay for medications.
Parts A and B together are called "Original Medicare." Our next guide, What Is Medicare?, explains each part in more detail.
Your two main paths
Most people choose one of two paths:
- Original Medicare plus a Medicare Supplement (Medigap) plan and a Part D drug plan. You can see any doctor in the country who accepts Medicare, and the supplement helps pay the costs Original Medicare leaves behind.
- A Medicare Advantage plan. One private plan handles your hospital, medical and usually drug coverage. Many have low or $0 premiums and extras like dental or vision, but most use a network of doctors.
Neither path is right for everyone. The best fit depends on your doctors, your prescriptions, your budget and how you like to get care.
When to sign up
Your Initial Enrollment Period is a 7-month window around your 65th birthday: the 3 months before your birthday month, the month itself and the 3 months after. If you sign up during the first 3 months, your coverage can start on the first day of your birthday month.
If you or your spouse are still working and covered by an employer's health plan, you may be able to wait on Part B without a penalty. Our Applying for Medicare guide explains how that works.
Common mistakes we help people avoid
- Missing enrollment deadlines, which can lead to late penalties that last for life
- Choosing a plan without checking that your doctors are in its network
- Picking a drug plan without checking how it covers your specific medications
- Paying more than necessary for the same coverage
How Thrive 65 can help
We help from your first question through enrollment, and we're still here after you're covered. We compare plans from multiple insurance companies, help with the paperwork and review your coverage with you each year. There's no cost to you for our help.
Call 702-768-7999 to talk it through, or send us a message and we'll get back to you.