Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and certain younger people with disabilities or end-stage renal disease.
Medicare coverage consists of two main parts: Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). These parts together are known as Original Medicare. A third part, Medicare Part C (Medicare Advantage), covers all Part A and Part B services, and may provide additional services. A fourth part, Medicare Part D, offers prescription drug coverage that helps with the rising costs of prescriptions.
Most people age 65 or older who are citizens or permanent residents of the United States are eligible for Medicare Part A without paying a monthly premium. You will pay a premium to enroll in Medicare Part B.
You’ll generally be automatically enrolled in Medicare when you turn 65 if you’ve already been receiving Social Security. The SSA will notify you that you’re being enrolled. If you’re not automatically enrolled and are eligible, you have a 7-month initial enrollment period to sign up.
Buffalo First is holding a free Medicare seminar on Tuesday, October 5 at 6pm featuring our guest speaker, Maria Schenk from Sheridan Benefits. To register, email info@buffalofirstllc.com or call Allen Dembski at 716-445-7465 with questions.