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New to Medicare? Start Here!

If you are new to Medicare, you most likely have a million questions running through your mind regarding your plan options, the best carriers in your area, out-of-pocket costs, and more.

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We have helped over 250,000 Medicare clients find their Medicare coverage

Below, we review the information every new Medicare beneficiary should know.

New to Original Medicare

If you are new to Medicare or are recently eligible for the federal health program, you will want to begin by enrolling in Original Medicare. Original Medicare is Medicare Part A and Part B, which cover the health insurance benefits for inpatient care, outpatient care, and durable medical equipment.

Typically, those new to Medicare will enroll in Original Medicare upon their 65th birthday. Around this time, you get an Initial Enrollment Period when you can enroll in Medicare Part A and Part B.

Remember, enrollment in Original Medicare coverage is not mandatory when you are first eligible – or ever. However, if you do not enroll or have creditable coverage in the meantime, you must pay a penalty if you eventually enroll in Original Medicare.

For most, Medicare Part A has a $0 monthly premium. If you work at least ten years in the U.S. paying Medicare taxes, you will not owe a Medicare Part A premium as long as you have this coverage.

On the other hand, Medicare Part B involves a premium for everyone. In 2023, the base Medicare Part B premium is $164.90, which has increased to $174.70 for the year 2024. However, this can increase based on your income. Higher earners may need to pay a higher Medicare Part B premium. On the other hand, those with lower incomes may qualify for assistance programs that partially or fully cover their Medicare Part B premium.

New to Medicare Supplement Plans

After you enroll in Original Medicare, you have the chance to pair this coverage with a Medicare Supplement plan. Medicare Supplement plans pay secondary to Original Medicare and fill the gaps in coverage and out-of-pocket costs.

When you are new to Medicare, you may not understand all the costs associated with Original Medicare. These costs change annually, so it is essential to stay as up-to-date as possible.

Find Medicare Plans in 3 Easy Steps

We have helped over 250,000 Medicare clients find their Medicare coverage

Medicare Part A requires you to pay a per-occurrence deductible and per-day copayments when you stay in the hospital past the allowed number of days. Meanwhile, you must pay an annual deductible and a 20% coinsurance on Medicare Part B.

This is where Medicare Supplement (Medigap) plans can help significantly. These plans relieve you of out-of-pocket costs, making your healthcare more affordable.

When you are new to Medicare, you receive a Medicare Supplement Open Enrollment Period. This means that you can enroll in any Medigap plan, regardless of your pre-existing conditions.

Your open enrollment window for Medigap is unique to you, but it only lasts six months. Once it is over, you can still enroll in a Medigap plan at any time, but you will need to go through medical underwriting when doing so.

Thus, it is crucial to enroll in a Medicare Supplement plan as soon as you are eligible. It may be your only opportunity.

Once you have Medigap, you can receive care from any health professional that accepts Original Medicare. Because benefits are standardized, your carrier does not impact the doctors you can visit. Additionally, you will never require a referral to see a specialist.

New to Medicare Advantage Plans

If you choose not to enroll in a Medicare Supplement plan, the next best option is a Medicare Advantage plan. However, you cannot enroll in both plan types simultaneously. You must only choose one.

Medicare Advantage, or Medicare Part C, are all-in-one Medicare plans that provide additional benefits to Original Medicare. These benefits can include dental, prescription, hearing, vision, and transportation coverage, as well as gym memberships and more.

Find Medicare Plans in 3 Easy Steps

We have helped over 250,000 Medicare clients find their Medicare coverage

Enrolling in a Medicare Advantage plan often comes at no additional monthly cost to you. However, you must still pay your Medicare Part B premium each month. Additionally, these plans often have higher maximum out-of-pocket limits. These limits can be as high as $10,000 or more if you go out of network.

This coverage type is often more restrictive than Medicare Supplement plans, so more clients tend to enroll in a Medigap plan to save money in the long run.

New to Medicare Part D

If you are new to Medicare, it is essential to understand how Medicare Part D works. Medicare Part D offers prescription drug coverage to those on Original Medicare.

Almost all Medicare Part C plans include prescription drug coverage. Thus, you usually cannot – and will not need to – enroll in Medicare Advantage and Part D simultaneously.

A variety of carriers offer Medicare Part D plans. Each plan has a different drug formulary, which outlines the prescriptions that receive coverage and each drug’s tier.

These plans work best when combined with Original Medicare and the right Medicare Supplement plan.

New to Medicare FAQs

Am I automatically enrolled in Medicare when I turn 65??
You will automatically enroll in Original Medicare at age 65 if you receive Social Security Income benefits for at least four months before turning 65. You must sign up for Original Medicare through Social Security if you do not yet receive these benefits.
Is Medicare always my Primary insurance?
Typically, Medicare will be your primary insurance. However, if you are still working and receive health benefits from your employer, Medicare will pay secondary.
Can I have Medicare and employer insurance?
Yes, you can have Medicare and employer insurance. If you are still employed, your employer coverage will be primary. If you are no longer employed but still enjoying the benefits, your Medicare benefits will pay primary.

How to Get on Medicare

If you are new to Medicare, it is vital to have an agent by your side who has your best interests in mind. When choosing coverage, carriers, benefits, and price points should be the factors that influence your choices. At MedicareFAQ, we find the best plans to fit your needs.

Call us at the number above to speak with an agent today about your plan options. Or complete our online rate comparison form to receive a free plan comparison today!

Sources

MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.

  1. Medicare and You, Medicare. Accessed June 2022.
    https://www.medicare.gov/Pubs/pdf/10050-Medicare-and-You.pdf
  2. Medicare, CMS. Accessed June 2022.
    https://www.cms.gov/
  3. Medicare, KFF. Accessed June 2022.
    https://www.kff.org/medicare/
  4. 2024 Medicare Parts A & B Premiums and Deductibles, CMS. Accessed October 2023.
    https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles
David Haass

David Haass

David Haass is the Chief Technology Officer and Co-Founder of Elite Insurance Partners and MedicareFAQ.com. He is a member and regular contributor to Forbes Finance Council and stay up-to-date with the latest Medicare trends and changes. He holds a Bachelor of Science in Business Administration and Management from the University of Florida.

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