5 Important Medicare Facts for Pre-Retirees

Most Americans who turn 65 are eligible for Medicare, a federal program that covers many health expenses for seniors, but the program is complicated. Here are five important facts you need to know first, Medicare is not free Of the four parts part, A hospital insurance is the only one that normally has no premium arts. B, C, and D have premiums that vary. Second enrollment is not automatic. You have to sign up for Medicare benefits. The exception is for those already receiving social security benefits. If you’re already receiving social security benefits, you will automatically receive Medicare parts A and b. Third. Late enrollment can mean expensive and permanent premium penalties. You have seven months starting three months before your 65th birthday month to sign up penalty free. Fourth, Medicare covers a lot, but not everything. Services, like long-term care, dental, and vision care are not covered. People often purchase additional private coverage for these types of services. And fifth, if you are in a higher tax bracket, you’ll pay more high income seniors pay surcharges on premiums for both parts B and D. Let us help you with your important Medicare decisions. Call to speak to a licensed insurance agent.