I’m turning 65 and I’m already receiving my Social Security benefit: If you are already receiving your retirement benefit from Social Security, you will be automatically enrolled in Part B as of the first of the month of your 65th birthday. You can expect to receive your Medicare card in the mail before your birthday month.
Your first opportunity to enroll in Part B is usually when you turn 65, in your Initial Enrollment Period. You may enroll in Part B as soon as three months before the month you turn 65. In this case, your Part B coverage will begin the first of the month in which you turn 65. You may also enroll in Part B during the three months following your birthday month. Your effective date will be the first of the following month after you enroll. If you enroll during the third month following your birthday month, your effective date will be the first of that month.
After paying a once-per-year Part B deductible ($240 in 2024)[1], you are responsible for 20% of most Part B services. Some services are covered 100% by Medicare, such as screenings, flu shots and a yearly Wellness Visit.
Part B is known as medical insurance and covers a wide range of benefits, such as eligible doctors’ services, outpatient services, screenings, diagnostic and lab tests, rehabilitation, chemotherapy and preventive services.
Part A costs for hospitals and skilled nursing facilities are defined by 60-day “benefit periods.” Each benefit period triggers the Part A deductible ($1632 in 2024).[1] A new benefit period begins when you are re-admitted after 60 days of receiving no inpatient hospital or skilled nursing facility care. It is possible to incur the Part A deductible several times in one year if you have multiple hospitalizations. You are also responsible to pay copays for days 61-90 in a hospital and for days 21-100 in a sk
Part A covers limited services and supplies provided in hospitals, skilled nursing facilities and nursing homes. Part A can also cover hospice care and eligible home health services.
Part D is prescription drug coverage provided by private insurers. If you are receiving your Medicare benefits through Original Medicare, you can get Part D drug coverage through a separate prescription drug plan (PDP). You will be responsible to pay a monthly premium for the plan, as well as a deductible and copays for your prescriptions. If you are receiving your Medicare benefits through a Medicare Advantage plan, you must get your prescription drug coverage through that plan. You will be responsible to pay a deductible and copays for your prescriptions.
Part C refers to plans offered by private insurance companies which cover the benefits offered by Original Medicare (Parts A & B). Some private insurance plans also include Part D prescription drug coverage. The most common kind of Part C plan is known as a Medicare Advantage plan. Besides covering Medicare services, Medicare Advantage plans may offer additional benefits, such as dental and vision coverage, hearing aid subsidies, gym memberships, over-the counter allowances, home care services and reimbursements for travel to medical appointments.
Part B covers services which are considered to be medically necessary for treating a disease or condition. These services include lab tests, doctor visits, durable medical equipment (DME) and preventive services. The monthly premium for Part B is based on your income plus any late enrollment penalties that may apply.
Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care. You are not charged a monthly premium for Part A if you have paid for your coverage through payroll taxes under your own work record or your spouse’s.