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