Introduction to Medicare

Whether you’re approaching 65 or have a permanent disability, trying to learn some of the ins and outs of any type of Medicare plan can be a bit challenging. If you want Medicare made easy and just a quick lesson in Medicare 101, read on to learn what you need to know before your enrollment date.

What Is Medicare?

Medicare is health insurance for individuals age 65+ as well as recipients of Social Security Disability for at least 2 years and people who have End Stage Renal Disease.  The tricky part about Medicare in New Jersey is choosing what type of coverage is right for your needs.

What Are Medicare’s Different “Parts”?

When it comes to Medicare, you’ll often hear talk about Part A, B, C, and D.  Below is an overview of these components. 

• Medicare Part A - Hospital coverage, hospice, home health care, and skilled nursing facility care. No monthly fee if you or a spouse worked in the country for 40 quarters (10 years).
• Medicare Part B - Doctor visits, outpatient surgery, lab tests, medical equipment, and mental healthcare. Monthly fee based on your income. Individuals with higher income will pay one of five different surcharge amounts based on which bracket their income falls within.
• Medicare Part C - Combining your Medicare Part A, Part B and Part D to be managed by a private insurance company. These plans often include Prescription Drug benefits and are network based, HMO or PPO.
• Medicare Part D - Prescription Drug coverage offered through private insurance carriers.

What is a Medicare Supplement plan?

And how do they work with Original Medicare?

Also known as "Medigap", these plans “close the gap” of costs that Medicare doesn’t cover. Original Medicare Parts A and B have costs which are your responsibility, such as 20% of Part B bills and a deductible for a hospital admission.  Medigap plans are offered through private insurance companies and the premiums are based on your age in New Jersey.

How Do I Enroll in Medicare?

If you are receiving Social Security benefits before age 65, you will be automatically enrolled in Medicare Part A (Hospital) and Part B (Doctor), and can choose to enroll in a Medicare Supplement, Prescription Drug Plan, or Medicare Advantage (Part C) plan.

If you are not receiving Social Security benefits before age 65 and want to take Medicare, you have to apply for Medicare Part A (Hospital) and Part B (Doctor).  You can apply for Medicare on Social Security's website.