Issue link: http://viewer.e-digitaledition.com/i/779430
EXPLAINED The Senior Health Insurance Program, SHIP, helps Medicare recipients understand benefits, supplementary insurance programs and the prescription drug plan Medicare Part D. For information please call Northwestern Medicine Kishwaukee Hospital at 815.756.1521. NAVIGATING MEDICARE CAN BE TRICKY. HERE'S WHAT YOU NEED TO KNOW. MEDICARE IS A federal health insurance program that provides coverage to older adults and young people with certain disabilities. Older adults can apply for Medicare around their 65th birthday. Enrollment can be confusing because Medicare offers four types of coverage. Here's a look at what's covered under each plan: Enrollment Highlights If you're about to turn 65, you have seven months to enroll in Medicare during a period that begins three months before your 65th birthday. Most people sign up for Part A right away. If you opt out of certain levels of coverage because you have employer-provided insurance, you can enroll in Part A and/or Part B for up to eight months and Part D for up to two months after you retire. Adults who decline Part A and/ or Part B for reasons other than employer-provided coverage can sign up annually during the general enrollment period— January 1 to March 31—but penalties may apply. These dates only offer general guidelines for certain circumstances. For further guidance, visit medicare.gov. Medicare Medicare Part A covers hospice, nursing home care, and services you receive during a hospital stay. Because Medicare Part A is funded through payroll taxes, most adults don't have to pay a premium to receive this coverage. Medicare Part B resembles a "traditional" health insurance plan. It covers everything from physician's appointments and laboratory tests to annual wellness exams, health screenings, and vaccines. As long as you receive health insurance from your employer or through your employed spouse, you may not need Medicare Part B. If you opt for Part B when you sign up for Part A, you will need to pay apremium. Medicare Part C is also known as Medicare Advantage and consists of health plans offered by Medicare-approved insurance companies. These plans provide the same levels of coverage found in Parts A and B and usually offer prescription coverage. You will need to pay a premium for this coverage. Medicare Part D is a prescription drug plan. You will need to pay a premium for this coverage. Medigap plans are also available, with many options for supplemental coverage and payment plans that can be compared through the insurance marketplace. 11 W I N T E R 17