Social Security Medicare What is Medicare A federal

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What is Medicare? - A federal health insurance program for people 65 and over* Part A Hospital Insurance Part B Medical Insurance Part D Prescription Drug Coverage Part A Hospital Insurance Part C Medicare Advantage Part B Medical Insurance * And for many disabled people. Medigap ©

Enrolling in Parts A & B Collecting Social Security Benefits at age 64 and 9 months? Yes No Automatically Enrolled in Parts A & B Should Apply 3 Months Before age 65 Enrollment Periods for Part B Initial General Special 7 -month period between age 64 and 9 months and age 65 and 3 months Jan 1 -Mar 31 each year Surcharges may apply Anytime while covered by a current employer’s plan or within 8 months of separation ©

Do You Need a Medigap Policy? Plan A Plan B Deductibles Plan C Costs in excess of Medicareapproved charges Plan D Extended Hospitalization Plan F Plan G Plan K Most selfadministered prescription drugs Plan L Coinsurance Plan M Plan N Nursing home costs Source: Centers for Medicare & Medicaid Services. ©

Getting the Most From Medigap Most Popular Plans Most Popular Plan F Covers (by percent of total Medigap spending) All Plan DOthers Plan 5% B 9% 5% Deductibles, coinsurance and excess charges for Parts A & B Nursing facility care Hospice care Plan F 60% Foreign travel emergency First three pints of blood Plan C 21% Shop around! Medigap Plan F for a 65 -year-old woman could cost: $869 $4, 426 $5, 295 Sources: Weiss Ratings (as of October 2011); Medicare. gov. ©

� Notes Insurance Shops is not affiliated with any government agency, including , but not limited to the Social Security Administration. This material is provided for educational purposes only and does not constitute as advice. The information contained within this Power. Point is based on current Social Security laws and rules, which may change in the future. Insurance Shops cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in these materials does not constitute any legal, tax or accounting advice. Please consult with a qualified professional for this type of advice. ©