Medicare
How to sign up for Parts A & B
There are two ways to sign up for Medicare. You can either call Social Security directly at 1-800-772-1213 (TTY users can call 1-800-325-0778) or sign up online through www.SSA.gov. If you are already receiving Social Security, you will automatically be enrolled in Medicare Parts A and B without an additional application and cards will be mailed 100 days prior to your birth month. If you are not receiving Social Security, you will need to sign up for Medicare Part A and B directly by either calling or signing up online 3 months prior to your birth month and cards will be mailed 2-3 weeks following your approval.
Knowing the Gaps and Differences
Medicare Part A and B only cover only 80% of your medical coverage. The remaining 20% can be covered one of three ways:
- Pay the out-of-pocket direct
- Enroll in a Medigap Plan
- Enroll in a Medicare Advantage Plan
Medigap, also known as Medicare Supplement plans, do not include Drug Coverage, Dental, Vision, and Hearing.
Medicare Advantage plans may include Drug Coverage, Dental, Vision, and Hearing depending on the plans available in your area.
It is important to consider how each of these plans and options work to make sure your specific needs are met. At Tripp Wealth Solutions we see retirement broken into three stages.
- Go-Go Years – Travel often, typically away from home.
- Slow-Go Years – Occasional travel but stay relatively local.
- No-Go Years – Little to no traveling and primarily stay local.
Depending on what stage you are in may mean it is time to review your coverage and see if there is a more viable option for you.