Do You Have the Right Medicare Plan?

Eight thousand people in our country turn 65 every day. If you are one of them, there is some important information you need to know about Medicare and supplemental Medicare plans.

Most people are eligible for Medicare when they turn 65, and the majority of people register for Medicare at that time to avoid late penalties. Here's something important to know - if you don't sign up when you turn 65 you can be hit with a surcharge for the entire time you have Medicare.

According to AARP, If you already receive Social Security benefits, you’ll be automatically enrolled. Otherwise, you must apply to sign up. However, if you or your spouse still works for an employer that provides you with health insurance, you can delay Medicare enrollment — without risking late penalties — until that employment ends.

Medicare divided into different parts. Part A helps pay the cost of hospital services. Part B helps pay the cost of doctor visits and outpatient services. Part D helps pay the cost of prescription drugs. Part C is different: It offers private insurance options, such as Medicare HMOs and PPOs, which provide coverage for Part A, Part B and (usually) Part D services in a single benefit package.

It is important to know that Medicare does not cover all your healthcare costs, and that is why most people purchase supplemental plans. Finding the right plan for you can be confusing and overwhelming. That's why it is important to talk with an experienced Medicare professional who can guide you through the process.

Here with more is Ann Gulian, Medicare insurance expert at Thomas Heist Insurance Agency.