Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition and younger people with disabilities or end-stage renal disease who qualify.
Medicare coverage consists of two main parts: Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). These parts together are known as Original Medicare. A third part, Medicare Part C (Medicare Advantage), covers all Part A and Part B services, and may provide additional services. A fourth part, Medicare Part D, offers prescription drug coverage that helps with the rising costs of prescriptions.
Most people age 65 or older who are citizens or permanent residents of the United States are eligible for Medicare Part A without paying a monthly premium but pay a premium to enroll in Medicare
You'll generally be automatically enrolled in Medicare when you turn 65 if you've already been receiving Social Security. The SSA will notify you when you're enrolled. If you're not automatically enrolled and are eligible, you have a seven-month initial enrollment period to sign up. Interested in learning more?
Buffalo First Wealth is holding a free Medicare seminar at 6 p.m. Tuesday, Oct. 5. To register, email [email protected].