Medicare Enrollment Table:
The table below is a quick summary reference of the various Medicare "Parts" that cover inpatient and outpatient medical services, prescription drug coverage, as well as alternatives in deciding how you would like to have your health care services paid for and delivered.
Medicare Health Care Decision Maze: A prospective recipient's election of Medicare benefits is a complex decision. It is even more complex than the election of Social Security retirement benefits. This is due to the granular nature of providing health care solutions to a wide variety of health care needs, different health care delivery systems and the actuarial nature of insuring the cost of pools of health care beneficiaries.
|Medicare Enrollment Update Table|
|Coverage||Inpatient Hospital & Other Medical Services||Outpatient Doctor & Other Medical Services||Medicare Advantage (Private Insurance Option)||Prescription Drum Coverage|
|Premium||None (If Qualify)||Yes||Yes||Yes|
|Monthly Premium||$441.00 in 2013||$104.90 in 2013||Varies by Plan||Varies by Plan|
|Initial Enrollment||Automatic (3) (4)||7 months: 3 months prior & after B-day Month (4)||7 months: 3 months prior & after B-day Month (4)||7 months: 3 months prior & after B-day Month (4)|
|General Enrollment||Jan 1 to Mar 31 (5)||Jan 1 to Mar 31 (5)||Jan 1 to Mar 31 (5)||Jan 1 to Mar 31 (5)|
|Special Enrollment||8 months after employer coverage ends (6, 7)||8 months after employer coverage ends (6, 7)||N/A||N/A|
|Late Enrollment Penalty||10% penalty 2x years delayed enrollment||10% premium each 12 month period delayed enrollment (8)||N/A||1% national base premium x number of months without coverage|
|Open Enrollment||N/A||Medigap eligible: 6 month period after 65th B-day||Oct 15 to Dec 7||Oct 15 to Dec 7|
|Withdrawal||N/A||N/A||Jan 1 to Feb 14||N/A|
Medicare Benefits Flow Chart: We have provided a hyper link below to our Medicare Benefits Flow Chart that illustrates in a rudimentary fashion the available options for key consideration which the eligible recipient should study (www.medicare.gov) or consider seeking professional advice prior to the election of health care benefits.