Medicare Part B Enrollment Ends March 31, 2011
Anyone who is eligible for Medicare Part B now is the time to sign up. Until March 31, 2011, the General Enrollment Period (GEP) for Medicare Part B allows those who are eligible to enroll in Medicare Part B.
“Most people first become eligible for Medicare at age 65,” notes Alan Weinstock, insurance broker at MedicareSupplementPlans.com. “However there are certain situations in which you may not sign up. For instance, if you are covered under a group health plan based on your own current employment or the current employment of your spouse.”
Basic Information about Medicare Parts A, B, C and D
First, it’s important to understand that there are four parts to Medicare. These are called Medicare Parts A, B, C and D.
Medicare Part A helps to pay for hospital services. Medicare Part B helps pay for doctor’s fees, outpatient hospital visits and other medical services and supplies not covered by Part A.
Medicare Part C allows beneficiaries to choose to receive all of their health care services through a provider organization. Known as Medicare Advantage, these plans may help lower the cost of receiving medical services. You must have both Parts A and B to enroll in Part C. Finally, Medicare Part D is the Medicare Prescription Drug Program.
There also are a dozen Medigap policies that cover, to varying degrees, things that aren’t covered in basic Medicare. Medigap or Medicare supplement insurance can only be used in conjunction with original Medicare, not with Medicare Advantage Plans. Some Medicare Advantage and Medigap policies include vision and dental coverage, which is not provided in basic Medicare.
Medicare Can Save You Money
Most people first become eligible for Medicare at age 65. The current standard premium for Medicare Part B in 2011 is $115.40. Some high-income individuals pay more.
The Part B premium also can be higher if you do not enroll during your initial enrollment period or when you first become eligible. However, there are exceptions. You can delay your Medicare Part B enrollment without having to pay a higher premium if:
1. You are covered under a group health plan based on your own current employment or the current employment of any family member.
2. You are disabled and working or you have coverage from a working family member.
If one of these situations applies to you, you can sign up for Medicare Part B without paying higher premiums:
1. Any month you are under a group health plan based on your own current employment or the current employment of any family member; or
2. Within eight months after your employment or group health plan coverage ends, which ever comes first.
While most people will automatically enroll in Medicare Part B when they enroll in Medicare Part A, if you did not enroll when you were first eligible AND you don’t fit into one of the categories above, you have until March 31, 2011 to enroll. Keep in mind that there may be penalties for not enrolling when you are first eligible.
Medigap insurance can give what the original Medicare Supplement cannot and this is a very effective advantage of the Medigap insurance California.
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