Medicare is a federal program that delivers health insurance for U.S. citizens (and permanent residents with more than 5 years continuous residency) who are age 65 and older as well as individuals with certain illnesses or disabilities.

Original (or ‘Traditional’) Medicare provided by the government helps to cover costs of hospitalization services (Medicare Part A) and physician services(Medicare Part B). It does not cover prescription drugs (otherwise known as part D) or any other medical services. While Original Medicare will help pay costs. You are responsible for paying premiums, deductibles, copayments or coinsurance costs.

Many people believe Medicare is free. Some parts may be free for certain beneficiaries while other parts have a monthly premium. CoverRight will be able to help explain which parts you may need to pay for.

Medicare Advantage(also known as Medicare Part C) is Medicare coverage that is provided by private insurance companies contracted with Medicare. Medicare Part C is an all-in-one ‘bundled’ alternative to Original Medicare and covers everything that Original Medicare (Parts A and B) covers and often includes extra benefits as well such as prescription drugs coverage as well as dental, vision and hearing care.

CoverRight can help you determine if Medicare Advantage is a good option for you and if so, which plan may suit your situation.

Medigap plans are insurance that help to cover the ‘gaps’ in Original Medicare. In other words, Medigap plans help to pay for the out of pocket costs such as deductibles, copays and coinsurance that you are responsible for under Original Medicare. Medigap can only be used with an Original Medicare plan and does not cover prescription drug cost (Part D) or any extra benefits.

There are 10 different standardized Medigap plans (A, B, C, D, F, G, K, L, M, and N) depending on your needs and budget. When comparing the same Medigap plan across different private health insurance companies your only differentiation is the premium and the insurer’s reputation.

CoverRight can help you determine if Medigap is a good option for you and if so, which plan may suit your situation.

The two most popular Medigap plans are Medicare Supplement Plan G and Medicare Supplement Plan N. You can use our platform to find the best price in your zip code across all nationwide providers. Your dedicated advisor will also explain the difference in coverages between these two plans or any of the other available options. Your advisor will also help you enroll on time in the best plan.

Medicare Part D plans refers to prescription drug coverage.

A Prescription Drug Plan (PDP) is standalone prescription drug insurance policy provided by private insurance companies. Original Medicare does not cover prescription drugs, however, by purchasing a PDP you may lower your prescription drug costs and protect yourself against higher costs.

You can also receive Part D coverage if you enroll in a Medicare Advantage plan which includes Part D. an all-in-one ‘bundled’ alternative to Original Medicare and covers everything that Original Medicare (Parts A and B) covers and often includes extra benefits as well such as prescription drugs coverage as well as dental, vision and hearing care.

CoverRight can help you find the most affordable Part D coverage for your prescription drugs.

• Doctor coverage – whether a plan covers your doctor(s)
• Prescription drug coverage – whether a plan has prescription drug coverage and if that your drugs are included in that plan's list of ‘covered’ drugs (also called a ‘drug formulary’). Formularies differ between different plans so it’s essential to check if the plan covers prescription drugs, and if so, which drugs
• Total out of pocket costs – In addition to your monthly premium, you should also evaluate other out-of-pocket costs like the deductible, copays, coinsurance and maximum out-of-pocket amounts before selecting your health insurance plan
• Additional benefits – many Medicare Advantage plans offer additional benefits for their members that are not covered by Original Medicare. For example, some Medicare Advantage plans include free memberships to gyms. Other plans provide services such as virtual doctor visits or even making an appointment online

CoverRight can help you to make sure all the above considerations are reviewed before you enroll in a plan.

You can enroll in Medicare during one of these periods:

• Initial Enrollment Period – Most people can first enroll in Medicare (Part A, B, C and D) during a 7-month window: 3 months before the month you turn 65, the month you turn 65, and three months after the month you turn 65

• Medicare Part C & D Annual Enrollment Period (AEP)– between October 15 and December 7 every year, existing Medicare beneficiaries can use this period to re-evaluate and make changes to their Medicare Advantage (Part C) and Medicare prescription drug plans (Part D). You cannot use AEP to enroll in Part A and/or Part B for the first time. If you enroll in a plan during AEP, coverage starts on January 1 of the following year.

• Special Enrollment Period (SEP) – You may qualify for a special period the enroll in Medicare based on certain life events such as you change residence or lose current coverage. Depending on your circumstance, you generally will have two full months to enroll.

• Medicare General Enrollment Period(GEP) – January 1 to March 31, every year. Most people will enroll in Medicare Part Bcoverage when they first sign up for Medicare. GEP is reserved for individuals who chose not to enroll in Part B when they were first eligible. Coverage starts July 1 of the same year.

• Medicare Advantage Open Enrollment Period (MA-OEP)– January 1 to March 31, every year. MA-OEP is only for people who are enrolled in a Medicare Advantage plan as of January 1. During MA-OEP, you can switch to a different Medicare Advantage plan with or without drug coverage, or switch back to Original Medicare and also join a standalone Medicare Prescription Drug plan. You cannot switch from Original Medicare to a Medicare Advantage plan during this period.

If you are turning 65 and have already been receiving Social Security or Railroad Retirement Board (RRB) benefits for at least 4 months prior to your 65th birthday, you will automatically be enrolled in Medicare.

If this does not apply, you can sign up to Original Medicare using one of these options:

• Apply online at Social Security. If you started your online application and have your re-entry number, you can go back to Social Security to finish your application.
• Visit your local Social Security office. Call Social Security at 1-800-772-1213 (TTY: 1-800-325-0778).
• If you worked for a railroad, call the RRB at 1-877-772-5772.
• If you already have Part A and want to sign up for Part B, complete an Application for Enrollment in Part B (CMS-40B). Get this form and instructions in Spanish.