Health insurance coverage is important, especially as you get older. This is why Medicare has been such a successful program and it helps people feel in control of their health as they age.
Medicare plans in Alabama, just like the rest of the country, are designed to give you health insurance coverage after age 65. If you’re looking for more information on how the program works, eligibility, and how to enroll, then keep reading for that and more.
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Medicare is a federally run health insurance program. People over the age of 65 are eligible for Medicare, as well as people that qualify earlier for medical reasons (more on that later).
Medicare is made up of four components:
You’re going to hear reference to Original Medicare (Parts A and B) and Medicare Advantage, which gives you coverage for Original Medicare plus prescription drugs.
If you’re ready to sign up for Medicare, you’ll need to decide if you want Original Medicare (with or without Part D) or Medicare Advantage. You can also enroll in a supplemental plan, run by private insurance companies, that helps with the out-of-pocket costs of Parts A and B. If you need more info, this guide will help you decide which plan is right for you.
It’s worthwhile to note that unlike other types of health insurance plans, Medicare isn’t offered for families. You choose your own coverage and it can be different from your spouse’s coverage (if they’re eligible).
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If you’re not working at age 65, you’ll definitely want to sign up for Medicare right away to avoid costly penalties down the line. But if you’re still working at age 65 and have a health insurance plan with your employer (and they have at least 20 employees), then you have two options:
Because Medicare Part A typically doesn’t cost you anything to enroll, it doesn’t hurt to have it in place to help foot the bill for anything your employer’s health insurance plan doesn’t cover.
Otherwise, you can postpone enrolling in Medicare without any penalties because you have health insurance in place. Once you leave your job, you’re entitled to a special enrollment period to sign up for Medicare.
If you’ve just turned 65 and you’re not already receiving Social Security, then your first step to getting Medicare coverage is to sign up for Social Security. You’ll get automatically enrolled in Medicare Part A and you can choose whether or not you want Part B coverage when you apply for benefits.
Otherwise, if you already get Social Security benefits, you’ll be automatically enrolled and receive a Medicare card in the mail before your 65th birthday. It couldn’t be easier!
ConsumerCoverage can help. If you’re thinking about enrolling but want to see quotes for different Medicare plans in Alabama.
Getting an overview of the average Medicare costs in Alabama can help you budget better for retirement as well as choose the parts of Medicare you want to enroll in. While the amounts can vary by income and specific situation, the average costs for Medicare are:
Part A is usually $0 for most people because they paid Medicare taxes for at least 10 years while working, but if not there can be a fee (either $278 or $506 each month).
The costs of Part C, Medicare Advantage, can vary significantly by plan and the costs can be updated annually. Part D also varies by plan and your income, so it’s important to research plans to ensure the costs and coverage make sense for your needs.
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If you want even more coverage, you can choose to enroll in Medigap if you have Original Medicare. This supplemental insurance is designed to help cover what Original Medicare (Parts A and B) don’t, including:
Medigap covers many out-of-pocket costs from Parts A and B and gives you more flexibility on the providers without network restrictions. Keep in mind that you can’t have Medigap and Medicare Advantage together.
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Medicare in Alabama is the same as Medicare throughout the rest of the U.S., which means that you’ll most likely get coverage once you turn 65. You can also double up with your employer’s plan if you’re still working to get even more insurance coverage.
Medicare is a great way to ensure everyone is getting the basic medical coverage they need, but you can always enhance your coverage thanks to Medicare Advantage or Medicare supplemental plans.
Want more customized coverage? Check out ConsumerCoverage today to get access to free quotes and can take control of your health.
