Medicare

Plan for Tomorrow, Today with Legacy Insurance Advisors

The Medicare decisions you make today can significantly impact your future healthcare and finances. Start planning early with the trusted support of Legacy Insurance Advisors—here for you every step of the way.

WHAT IS MEDICARE?

Medicare is a government-sponsored health insurance program administered by the Centers for Medicare and Medicaid Services. Medicare is divided into several parts, each covering different aspects of healthcare. These include Medicare Part A (Hospital Insurance), Medicare Part B (Medical Insurance), Medicare Part C (Medicare Advantage Plan), and Medicare Part D (Medicare Prescription Drug Coverage).


It's important to take into account the rules regarding enrollment eligibility and timing. The Medicare & You handbook provides an overview of Medicare benefits, rights, and protections. It includes lists of available health and drug plans and answers frequently asked questions about Medicare. To help navigate these options and find the most suitable Medicare solution for you, contact Legacy Insurance Advisors today!


Part A

Also known as Hospital Insurance, covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. 

Part B

Also known as "Medical Insurance," covers a range of medical services like doctor visits, outpatient care, certain medical supplies, and preventive services, essentially covering the medical needs that Part A (hospital insurance) doesn't include.

Part C

Also known as Medicare Advantage, is a health plan option that bundles parts of Medicare A, B, and usually D. It's offered by private companies that are approved by Medicare. 

Part D

Extra coverage people with Medicare can choose to help lower costs of  prescription drugs.

Medicare Supplement Plans

Also known as Medigap plans are designed to cover the “gaps” in Original Medicare coverage. These gaps include costs like copayments, coinsurance, and deductibles.

Dental, Vision, Hearing

Medicare, including Medicare Supplement Insurance, Medigap, and many Medicare Advantage plans, often does not cover the majority of dental, vision, and hearing expenses. However, standalone plans exist to help offset some of the cost.

What are the different Medicare enrollment periods?


  • 1. Initial Enrollment Period

    (IEP) 

    This is a 7-month period that starts 3 months before the month you turn 65, includes your birth month, and ends 3 months after your birth month. It’s the first chance you have to enroll in Medicare.



  • 2. General Enrollment Period

    (GEP)


    People who did not sign up for Medicare Parts A and/or B when first eligible and who do not have a Special Enrollment Period.


    If you missed your IEP, you can sign up during the GEP, which runs from January 1 to March 31 each year. Your coverage will start on July 1.


  • 3. Special Enrollment Period

    (SEP)

    If you qualify due to certain life events, like losing your job-based health insurance or moving, you can enroll or make changes to your Medicare coverage outside the regular enrollment periods.

  • 4. Annual Election Period

    (AEP)

    Also known as the Medicare Open Enrollment Period, this runs from October 15 to December 7 each year. During this time, you can join, switch, or drop Medicare Advantage and Part D plans. Changes made during this period take effect on January 1 of the following year.

  • 5. Medicare Advantage Open Enrollment Period

    From January 1 to March 31, if you're enrolled in a Medicare Advantage Plan, you can switch to another Medicare Advantage Plan or return to Original Medicare and join a separate Medicare drug plan (Part D).