Important Medicare Q&As to Know in 2021

If you’re looking for answers to common questions about Medicare, you’ve come to the right place. Selby Insurance can help you understand the basics of Medicare and find a plan that fits your needs. We’ve gathered a quick list of 2021 Q&As for you to review.

What Age Do People Sign Up for Medicare?

People usually apply for Medicare at age 65. However, some may decide to delay enrollment if they’re still actively working for a large employer (more than 20 employees). Other people may enroll before 65 if they’re on Social Security Disability for at least two years.

Is Everyone Eligible for Medicare?

No. Medicare is available to people 65 years of age or older, or under 65 on disability — for a minimum of two years. If you have ESRD or ALS, you’re immediately eligible for Medicare.

How Does Medicare Work with Employer Coverage?

You can have Medicare and employer health coverage at the same time. How it works will depend on the policy and size of your employer. You should sign up for Medicare at 65 if you’re working for a small company (less than 20 employees). In this case, your small employer group health insurance will be primary, and Medicare will be secondary. If the group plan has a deductible, Medicare may pay a percentage of it. If you work for a large employer, you could delay Medicare enrollment. You may want to discuss your coverage with your benefits administrator to get specific details on how your plan will coordinate with Medicare.

Can Medicare Drop You?

No, Original Medicare can’t drop you. However, if you don’t pay the premium on a Medigap, Medicare Advantage, or prescription drug plan, they can cut you loose. Typically, you’ll get many notices before the plan drops you/terminates your coverage.

What Is a Medicare Part C Plan?

Medicare Part C is better known as a Medicare Advantage plan. These programs may have $0 monthly premiums, and several of them include prescription drug (Part D) coverage. But Advantage plans have copays — you can expect to pay one for each doctor visit, test, and service received. You’ll also need to pay the Part B monthly premium while you’re enrolled in Medicare Advantage.

What Is a Medigap Plan?

A Medicare plan is a supplemental insurance option for Medicare. Also called Medicare Supplement plans, these policies help fill the gaps in Original Medicare. So, when Medicare would typically charge you 20% or a deductible, the supplement plan could pay the bill instead.

What Drugs Are Covered Under Part D?

Many drugs are covered under Medicare. Every plan (Part D formulary) must cover these six protected classes — helping patients with severe health conditions access the medications required for treatment.

• Antiretrovirals

• Antipsychotics

• Antineoplastics

• Anticonvulsants

• Antidepressants

• Immunosuppressants

Can You Have a Medicare Advantage Plan and a Medigap Plan?

You must choose a Medicare Advantage plan or a Medigap plan. You can’t have both.

If you’re having trouble deciding between the two, work with a local agent like Selby Insurance. We can help determine which option makes the most sense for you.

We’re Here to Answer Your Medicare Questions

Medicare can be a complicated maze, but you don’t have to try and solve it alone. We can walk you through the process to find the best options in your area. And, we can answer your Medicare questions so you can feel at ease and make confident decisions. Call (870) 336-2121 today!