Medicare Overview: What Texans Need to Know 

Navigating Medicare can feel overwhelming, especially with the many choices and deadlines involved. Still, while this task may seem taxing, it’s essential for eligible individuals not to cut corners and do their due diligence. Lacking clear and reliable information about your options or making hasty decisions can have dire consequences for your health and finances in the year to come. McDermett Insurance Agency is here with guidance.

What Is Medicare?

Medicare is a government-sponsored health insurance program primarily for people age 65 and older, though certain younger individuals with disabilities or specific health conditions may also qualify. This program can provide eligible individuals with cost-effective and versatile coverage, helping limit out-of-pocket costs for many health care products and services.

Understanding Coverage Options

Medicare is divided into several parts, each covering different health care needs. Familiarize yourself with the following possibilities and how they might provide the coverage you need:

• Part A (Hospital Insurance) can cover inpatient hospital stays, skilled nursing facility care, hospice and some home health care.
• Part B (Medical Insurance) may help pay for doctor visits, outpatient care, preventive services and certain types of home health care.
• Part C (Medicare Advantage) is offered by private insurers approved by the government and can provide the benefits of Parts A and B (also known as Original Medicare), while often including prescription drug coverage and additional benefits.
• Part D (Prescription Drug Coverage) can help cover the cost of prescription medications.

How Do I Enroll?

Timing is crucial when enrolling in Medicare or making adjustments to your existing coverage. When first becoming eligible for Medicare, you’ll have an initial enrollment period that begins three months before you turn 65 and ends three months after. Each year afterward, you’ll go through open enrollment, which takes place Oct. 15 – Dec. 7. During this time, you can make changes to your coverage for the following year. In the event of major life events, such as retiring or moving out of your current plan’s service area, you may also qualify for a special enrollment period during which you can make changes to your plan.

How We Help Texans Navigate Medicare

Ready to explore your Medicare options or have questions about eligibility and coverage? Contact McDermett Insurance Agency today to speak with one of our knowledgeable advisors.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.