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Medicare supplements: Do I need one and when?

When you turn 65 and up to 90 days before your 65th birthday and 6 months after your birthday you have to sign up for Medicare.  There are 4 parts to Medicare.  Part “A” is free and provides coverage for hospitalization.  Part “B” costs a little and the cost is dependent on your income.  Part “B” provides coverage for doctors.  You will not need this if you continue to have group health insurance, but you might want to move from your group policy to a supplement because it can be less expensive and the coverage can be richer.  Part “C” is the Medicare supplement, and the coverage’s are dictated by the government and private insurance companies can provide the policy.  The coverages are all the same, but the price can differ (a little not a lot) from one carrier to another.  Part “D” provides coverage for prescription drugs and you must take out a part “D” policy or have credible drug coverage or you will be charged an additional 1% per month that you do not have drug coverage in force when you are ready to purchase a part “D” policy. 

Hoffman Insurance Group through our partnership with Lone Star Health Plans is here to help you sort out the confusion with Medicare and the various supplements.  Call us with any of your questions at 281-491-656

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