No. You cannot have both at the same time.

In addition to having a huge gap in coverage, you will face a penalty from Medicare. A Part “B” penalty can be 10% of your Part “B” premium for each 12-month period outside of Medicare, and up to 1% of the national average of a Part “D” plan for each month absent Part “D”.

You usually can. It is important to be sure your doctor accepts Medicare. Some do not. All the various companies have different networks of physicians and hospitals they work with. We check plan networks and will advise you if they are or are not included in the network.

No, it does not. Skilled nursing facilities are covered for short term care after an inpatient stay in the hospital. There must be patient improvement for that to be covered.

Custodial care is never covered, meaning when you must live in a nursing home long term this is only covered under a Long-Term Care policy.

Original Medicare does not cover outpatient prescription drugs. If you do not have creditable prescription coverage through an employer/union, you will need to purchase Part D coverage from a private insurance company. If you have/want a Medicare supplement insurance plan you will need to purchase a standalone Prescription Drug Plan to cover your prescriptions. While many Medicare Advantage Plans include Part D Prescription coverage within the plan.

It is important to always either have creditable coverage or a Part D plan once you turn 65. If you are covered under an employer or spouse’s/partner’s employer plan, you will be notified if what you have is creditable coverage. If you will not have creditable coverage upon turning 65, you should enroll in a Part D plan. Skipping Part D enrollment means you will need to pay a lifetime monthly penalty if you ever do decide to enroll in Part D.

Medicare Advantage Plans:

• Can be a great option for those who would rather pay low or no monthly premiums in exchange for costs when they do see a doctor
• Plans are standardized by the types of coverage and the categories of benefits offered, but plan offerings are based on your county of residence
• Have network restrictions and often Primary Care Physicians coordinating care
• Often have copays and coinsurance when using numerous benefits
• May have low or no monthly premiums
• Cannot deny you coverage
• There are certain times during the year where you can change your plans including the Annual Enrollment Period from October 15 – December 7 and various SEPs (Special Election Periods) depending on if you are eligible for those SEPs

Medicare supplement insurance Plans:

• Can be a great option for those who would rather pay higher monthly premiums in exchange for lower costs when they do see a doctor
• Help cover the remaining portion of Medicare approved doctor & hospital expenses that Medicare does not pay
• Are standardized, meaning the basic benefits of each plan are the same regardless of the company offering it
• Most do not have network restrictions (unless looking at a lower cost “Select” Medicare supplement insurance plan)
• Do have monthly premiums
• You cannot deny your coverage when you first enroll in Medicare. If you are signing up
• for this type of plan after your Initial Medicare Enrollment Period, the plan’s approval
• and cost will be subject to medical underwriting
• Are guaranteed renewable, meaning you are covered as long as you pay the premium
• within the grace period (except in cases of material misrepresentation by you)

Medicare is divided into separate parts (Part A, Part B, Part C, Part D). Medicare Parts A and B are handled through the government. Medicare Part C is another name for Medicare Advantage, which is optional insurance you can get through an insurance company. Medicare Part D is the drug coverage portion of Medicare.

Because Medicare supplement insurance plans are standardized by the government, a specific plan, like Medicare supplement Plan F, will offer the same basic benefits no matter what company you purchase it from. Some companies may introduce small additional features like gym memberships, but all health care benefits are the same. These additional features are not insurance benefits. Even though the supplement plans are standardized, there are many different types of Medicare supplement plans available to you (Plan A through Plan N).

You can go to SSA.GOV or call your local social security office and make a phone appointment. The timeline to apply is usually 90 days (about 3 months) before you turn 65. Sometimes if you are already receiving a social security check, they will automatically mail it to you, so watch out for a red, white, and blue card.

If you have met the work-related eligibility requirements, you may begin enrollment into Medicare 90 days (about 3 months) before the month you turn 65.

Many people decide to either purchase a Medicare supplement insurance plan in addition to Medicare Part A and Part B or to enroll in a Medicare Advantage plan.

Medicare supplement insurance plans are required to accept people who are in their Initial Enrollment period that lasts for 7 months (3 months prior to your 65th birthday, your birthday month, and 3 months after the month you turn 65). After that, you may be denied coverage due to health conditions, unless you have a qualifying status change.

Medicare Advantage plans, on the other hand, are required to accept anyone in their Initial Enrollment Period and anyone who applies during the Annual Enrollment Period from October 15 to December 7 of each year.

There are also Special Election Periods, SEPs, that may allow you to join a plan outside of your Initial Enrollment Period and the Annual Enrollment Period. Certain qualifying events include:

• Retiring and losing employer coverage past the age of 65
• Moving counties/states
• Moving into or out of an institution (like a skilling nursing facility or long-term care
• hospital)
• If you are no longer eligible for Medicaid or become eligible for Medicaid
• If you have a severe or disabling condition and there is a Medicare Chronic
• Care Special Needs Plan (SNP) available that serves people with your condition
• If you qualify for Extra Help paying for Medicare prescription drug coverage

You cannot always change your coverage, so it is important to be confident in your choice. Doing research up front and understanding your plan are excellent ways to help ensure the coverage you choose is right for you.