When Does Medicare Start
2014 Medicare and Medigap Updates
When Does Medicare Start?
Medicare is known as the national healthcare insurer and most people know that Medicare will cover their medical costs when they reach a certain age. However, a number of people are unaware of when Medicare will start and how they will cater for the costs that lead up to the starting period. Moreover, there are a number of questions relating to 'When does Medicare start' and how it will cater for disability cases. In this article, we will deal with the question,'When does Medicare start?'
Medicare was started by Congress to cater for the Medical needs of senior citizens. In the context of insurance companies, senior citizens are at a higher risk of medical emergencies than younger citizens. As such, the policies as well as the premiums for healthcare insurance for senior citizens tends to be quite high. As most of the senior citizens at this age have already retired, it becomes quite difficult for them to cater for these costs.
When does Medicare start? Every American that has been putting money into the system is eligible for Medicare and their health insurance coverage starts on the first day of the month they turn 65. This is the simplest answer to this question. However, depending on when you enroll for Medicare, it may start at least three months later.
Medicare has an initial enrollment period where individuals who want to be covered under the Medicare program have to enroll for the plans that they would like Medicare to cater to in their particular case. The plans are broadly categorized as four part plans which make up the Medicare program. These are Part A, Part B, Part C and Part D.
Depending on your preference, you will have to enroll for one or more of the plans to be covered under the Medicare program. Most individuals choose to enroll in Part A and B. To be enrolled in Parts C and D, you have to be enrolled in the first two.
Since Medicare on pays 80% of medical expenses most retirees choose to take out a Medigap policy. Medigap is a low cost and government regulated plan that protects your savings from a lot of out of pocket expenses in the case of a long illness. The initial enrollment period is a 6 month period. It starts 3 months before you turn 65 and ends 3 months after your turned 65. Though you enroll at a later date, there are some fees charged for this service.
For individuals with grave disabilities such as end stage renal failure, the question when does Medicare start holds any number of answers. Once diagnosed with a disability that is deemed an exception in the Medicare program, your Medicare may start well before you turn 65. However, for this to happen, you will have to provide proof of the disability.
If you are retiring early, there are a number of insurance options available for you. You could choose to extend your coverage plan with your employer before retiring or buy an individual policy. Such short term medical insurance is the best alternative for individuals who are close to the 65 year mark and would not like to go a day without insurance coverage.
We hope this short discussion on – when does Medicare start? – has been helpful. If you will note, this website has an extremely huge amount of articles on Medicare and Medigap.