Turning 65? Get Your Medicare Plans As Soon As Possible

When you or a loved one approaches Medicare eligibility, the process can feel overwhelming. You may have questions about costs, plans, coverage, and how to choose the right plan that is suitable for your needs. Let Buckeye Medicare Services guide you through the planning process for your Medicare options.

Medicare has four parts to meet your healthcare needs:

1. Hospital Insurance (Part A)
2. Medical Insurance (Part B)
3. Medicare Advantage (Part C)
4. Medicare Prescription Drug Plan (Part D)

Original Medicare (Part A and Part B) is administered by the federal government. However, Medicare Advantage Plans (Part C) and Prescription Drug Plans (Part D) are offered by private insurance companies approved by Medicare.

• If you start receiving Social Security benefits before age 65, you are automatically enrolled in Part A.
• You must actively enroll in Part B online or in person through the Social Security Office.
• Medicare Advantage (Part C) and Part D plans are available through private insurance companies and can be tailored to your needs.

The costs of Medicare depend on the part and your income level:

• Premium: Free for most people who paid Medicare taxes for at least 10 years. If not eligible for premium-free Part A, the monthly premium could be as high as $506 in 2025. Centers for Medicare & Medicaid Services
• Inpatient Hospital Deductible: $1,676 per benefit period in 2025. Action Benefits Blog

• Standard Premium: $185.00 per month in 2025. Centers for Medicare & Medicaid Services
• Annual Deductible: $257 in 2025. Action Benefits Blog
• Income-Related Monthly Adjustment Amount (IRMAA): Higher-income individuals may pay more. For example, individuals with incomes over $106,000 and couples over $212,000 will have higher premiums. Kiplinger

• Premiums: Set by private insurers and vary by plan and service area.
• IRMAA: Higher-income individuals may pay an additional amount. For instance, individuals earning over $106,000 and couples over $212,000 will face extra charges. Kiplinger
• Late Enrollment Penalty: Applies if you don’t enroll in Part D when first eligible without other credible prescription drug coverage.

• Deductibles, Copayments, and Coinsurance: You’re responsible for these costs.
• No Maximum Out-of-Pocket Limit: Original Medicare does not cap your healthcare expenses, which can lead to high costs.

Medicare Supplement Plans (Medigap) can help cover the costs Original Medicare doesn’t, such as copayments and coinsurance. These plans are offered by private insurance companies and are available without underwriting during your initial six-month Medigap enrollment period.

Alternatively, Medicare Advantage Plans (Part C) provide an all-in-one solution, often including Part D coverage.

Key Rules to Remember:

• You can choose Medicare Supplement or Medicare Advantage, but not both.
• Medicare Savings Accounts (MSAs) cannot include prescription drug coverage.

It’s never too early to start learning about Medicare. Understanding your options and planning ahead can help you avoid penalties and ensure you have the coverage you need.

• Do you take prescription drugs daily?

               Consider a Medicare Advantage Prescription Drug Plan or a stand-alone Part D Prescription 

               Drug Plan.

• Do you have a chronic condition?

               Look into Medicare Advantage Special Needs Plans (SNPs), which are tailored for specific 

               health needs.

• Do you prefer convenience?

               Medicare Advantage Plans bundle all your coverage into one plan for easy management.

You don’t need to take Social Security benefits to become eligible for Medicare Parts A and B. However, you must actively enroll in Part B if you are not automatically enrolled.

Navigating Medicare can be challenging, but Buckeye Medicare Services is here to help. Whether you prefer to enroll yourself online or need personalized assistance, our licensed insurance agents are ready to guide you at no cost.

📞 Call us today and speak with a licensed insurance agent at 513-848-5203
🌐 Visit buckeyemedicare.com

Start planning for your Medicare journey today and secure the coverage you deserve!