Setting Up Medicare After A Job Loss
Losing your job can be a stressful experience, especially if you also lose your employer-sponsored health insurance. On top of that with the cost of living in New York City, who has time to accommodate all the changes needed for such a drastic event. However, if you are eligible for Medicare, you have options to get the health insurance coverage you need.
Am I eligible for Medicare?
You are eligible for Medicare if you are age 65 or older, or if you have certain disabilities. If you are under age 65 and lose your job-based health insurance, you may have a Special Enrollment Period (SEP) to enroll in Medicare Part B. This means that you can enroll in Medicare Part B without having to pay a late enrollment penalty. To learn more about SEPs, visit the Medicare website or call Medicare at 1-800-MEDICARE (1-800-633-4227).
How do I set up Medicare?
You can set up Medicare online, by phone, or by mail. You can also enroll through a Medicare counselor. To enroll in Medicare, you will need to provide your Social Security number, date of birth, and mailing address. You may also need to provide information about your current health insurance coverage.
What type of Medicare plan should I choose?
There are two main types of Medicare plans: Original Medicare and Medicare Advantage plans.
- Original Medicare is a fee-for-service program. This means that you pay for each medical service you receive. Original Medicare consists of two parts: Part A (hospital insurance) and Part B (medical insurance).
- Medicare Advantage plans are offered by private insurance companies. Medicare Advantage plans typically provide more comprehensive coverage than Original Medicare, and they often include prescription drug coverage.
When choosing a Medicare plan, it is important to consider your budget, your health needs, and your preferences. You can compare Medicare plans online through Medicare’s website or by talking to a Medicare counselor.
How do I pay for Medicare?
There are monthly premiums for both Original Medicare and Medicare Advantage plans. You may also have to pay a deductible and coinsurance for covered services.
If you have limited income and resources, you may be eligible for Medicare Savings Programs to help pay for your Medicare premiums and deductibles. You can learn more about Medicare Savings Programs on the Medicare website or by calling Medicare at 1-800-MEDICARE (1-800-633-4227).
Where can I get help setting up Medicare?
If you need help setting up Medicare, you can talk to a Medicare counselor. Medicare counselors can help you understand your options and choose the best Medicare plan for your needs. You can find a Medicare counselor in your area by calling 1-800-MEDICARE (1-800-633-4227).
Setting up Medicare after job loss can be a daunting task, but it is important to make sure you have health insurance coverage. By following the tips above, you can ensure that you are getting the best possible coverage for your needs.