If you’ve been waiting, now is the time! Medicare open enrollment for 2019 began on October 15th and continues until December 7th.
Open enrollment allows you to switch between Medicare plans, prescription plans and/or join for the first time, even if you missed the general open enrollment.
When you turn 65 years old, American citizens and legal residents become eligible for Medicare health coverage. Keep in mind that initial enrollment starts three months prior. This means you can begin applying for Medicare three months before your 65th birthday. This gives you time to assess the coverage and setup what’s best for you.
Understanding Medicare can be challenging, so let’s break it down.
Medicare has four major components: hospital insurance, medical services insurance, managed care options and outpatient prescription drug coverage.
Hospital insurance covers items such as inpatient hospital care, some home healthcare, critical access hospitals, nursing facility care and hospice.
Medical services insurance handles items such as doctor’s services, ambulance services, outpatient hospital care, x-rays and laboratory tests, certain preventive care, etc.
When combined, hospital insurance and medical services insurance make up what is considered to be conventional Medicare coverage. The coverage is adaptable, allowing you to select from a broad list of doctors and hospitals. However, it can become costly.
That’s where the third component comes in – the managed care option. It restricts your choices of providers and hospitals, but pays all, or almost all, of the costs.
The last component, outpatient prescription drug coverage, is relatively new and is not sold directly by the government. Instead, is operates through private-sector insurance companies. It also has limitations and qualifications for consideration.
There’s a lot to review for your Medicare enrollment. Take the time to educate yourself and understand the differences in each plan to ensure your needs are met.
Once you’ve settled on the right Medicare plan, we’re here get your prescriptions filled on time! Come visit Las Vegas Pharmacy at 2600 W. Sahara Ave., Ste. 120, or let us come to you with our free home delivery service. Our friendly staff is dedicated to your health!
