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Medicare's annual enrollment period is now open, and many North Carolinians probably have questions about what they need and how to sign-up.
Here to discuss the basics of Medicare and what you need to know if you're eligible – Alec Hoffman, Retail Operations Manager for Blue Cross and Blue Shield of North Carolina .
Medicare is a national health insurance program in the United States, begun in 1965 under the Social Security Administration and now administered by the Centers for Medicare and Medicaid Services. It primarily provides health insurance for Americans aged 65 and older, but also for some younger people with disability status as determined by the SSA, including people with end stage renal disease and amyotrophic lateral sclerosis.
If your 65 and still working it may not make sense to enroll. The best options is to consult companies HR department to seek what is best for you.
There's a lot of information out there about different types of Medicare options. It is important that you pick the plan right for you. First of all, seniors need to know that original Medicare comes in two parts; part A and part B. Medicare Parts A and B – or Original Medicare – are provided by the federal government and include hospital benefits and medical benefits. If you have paid into social security program for 10 years or more you get the Part A benefit at no cost… that includes hospitalization. Part B may have some cost associated with its benefits. Medicare part C is provided by private insurers and has similar coverage, but lowers your share of the costs. It may also include prescription drug coverage, dental, vision as well as gym memberships. Medicare part D adds prescription drug coverage.
Finally, Medicare Supplement plans are meant to cover some gaps in costs that Original Medicare would not cover.
Enrollment period for first time senior is 3 months before or after you turn 65 or on the month of your 65th birthday. Annual enrollment for everyone else is from October 15th to December 7th. Open enrollment when you can change Medicare Advantage plans is from January 1st to March 31st.