Senior man checking phone

How to sign up for Medicare Parts A and B (Original Medicare)

People with Medicare who want additional coverage, more peace of mind, or lower healthcare costs can consider enrolling in Medicare Advantage Plans, Medicare Part D Prescription Drug coverage or Medicare Supplement Insurance (Medigap). Healthpilot offers all three. But before you can enroll in any of these plans, you must first sign up for Medicare Parts A (hospital insurance) and B (medical insurance), also known as Original Medicare. (You can learn the basics of Medicare here.) Here’s how to sign up and what to expect.

The Initial Enrollment Period.

Most people become eligible for Medicare three months before turning 65. If you are disabled, you can become eligible earlier.

Your first opportunity to sign up for Medicare Parts A and B is the Initial Enrollment Period (IEP). This period lasts seven months: three months before you turn 65 + your birthday month + three months after.

Enrolling in Medicare after 65.

If you or your spouse are actively employed and are planning to remain on your (or your spouse’s) employer-sponsored plan after 65, make sure you understand how Medicare and employer insurance work together. The time to start planning your transition from employer coverage to Medicare is a few months before you turn age 65. If you enroll in Medicare Part B at 66 or later — and you (or your spouse) are not actively employed — a late enrollment penalty may be added to your premium. So it pays to plan ahead.

Even if you delay signing up for Medicare Part B, you should consider signing up for Part A as soon as you’re eligible. For those who have worked for 10 years and paid Medicare taxes, there is no Part A premium, so there is no reason not to sign up.

Sign up for Medicare through Social Security.

You must sign up for Medicare through the Social Security Administration. But you do not have to start collecting Social Security yet. You can apply for Medicare only.

If you are already receiving Social Security, there is no need to sign up for Medicare. You are already enrolled. Those who worked for the railroads may also be automatically enrolled in Medicare through the Railroad Retirement Board.

How to sign up and what to expect.

There are several ways to apply for Medicare. The process usually takes 10-20 minutes.

Sign up online.
First, you need to create an account on the Social Security website. Then you can sign up for Medicare online. During the Medicare application process, you’ll receive an application ID number you can use to log in again if you need to stop for any reason.

Information you will need to sign up:

      • Date and place of birth. If you are not a U.S. citizen, you will need your Permanent Resident Card number.
      • Current Health Insurance. You will need start and end dates for your (or your spouse’s) current coverage and employment.
      • Medicaid Number. If you have a Medicaid number, you will need to this along with start and end dates for your coverage.

Sign up by phone.
Call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778.

Sign up in person.
You can make an appointment to sign up at your local Social Security office. Find yours here.

Sign up by mail.
You can also send a signed and dated letter to Social Security with your name, social security number and the date you would like to be enrolled in Medicare.

Keep records.

However you choose to sign up, keep records. If your application is lost, you can use these records to avoid receiving a Part B premium penalty. Print or save a confirmation of your application submission. Take notes on whom you speak to and when. If visiting the Social Security office, ask for a receipt. If applying by mail, use certified mail.

Look for a welcome package from Medicare.

About two weeks after signing up you should receive a welcome package from Medicare including your Medicare card. You can log into your my Social Security account to check the status of your application.

Enrolled? Now is the time to strengthen your coverage.

Once you are enrolled in Medicare Parts A and B, you can enroll in a Medicare Advantage Plan, Medigap or a Part D Prescription Drug plan. Original Medicare does not cover most outpatient prescription drugs, routine dental, routine vision, and hearing.   And Medicare Part B typically requires you to pay 20% of the cost of doctors’ services, lab tests and x-rays after you pay your deductible. Reasons like this are why most Medicare users seek additional coverage.

The best time to get Medicare Advantage or a Part D Prescription Drug plan is when you first enroll in Medicare Part A and B. Signing up for Part D when you’re first eligible can help you avoid paying a lifetime Part D late enrollment penalty. For Medigap, you’ll want to sign up within six months of your Part B coverage going into effect. If you apply later, you may have to pay higher premiums, or you may be denied coverage due to your health status.

Save time. Let Healthpilot find the right Medicare plan for you.

Visit Healthpilot to find the right Medicare plan for your needs. It’s free, easy and secure. Then come back every fall during Medicare Annual Enrollment to review your coverage and make any desired adjustments. Once you enroll, we’ll monitor available plans and let you know if we find one that could be better for you, so you never have to worry about health insurance again.

Even if you aren’t yet eligible — or the enrollment period you need is weeks away — you can still compare plan benefits and costs. Then, once you have reached an applicable enrollment period and signed up for Medicare Parts A and B, you can log back into Healthpilot and apply for the right Medicare plan in minutes.

Medicare Advantage & Medigap: What’s the Difference?

There are some healthcare costs that Original Medicare (Medicare Part A and Part B) won’t pay. To help with these, many Medicare users enroll in a Medicare Advantage Plan or Medicare Supplement Insurance policy (Medigap). However, you may not have both a Medicare Advantage Plan and Medigap at the same time. So if you want coverage beyond Original Medicare, you will have to make a choice.

Healthpilot can help. Healthpilot can search many of the Medicare Advantage and Medigap plans available in your area to find the right one for your specific healthcare needs. It’s fast, easy, secure and all online. Now, here are the key differences between Medicare Advantage and Medigap.

Plan Medicare Advantage Medigap
What is it?
Note: Medicare Parts A and B are required to have Medicare Advantage or Medigap.
Medicare Advantage includes all the services covered under Medicare Part A and Part B. Learn the basics of Medicare here.

Many plans cover routine dental care, vision care and prescription drugs.

Medigap helps pay your share of medical expenses like co-pays, deductibles and coinsurance after Medicare pays for services covered by Part A and Part B.
How does it work? Your doctor sends the bill to your Medicare Advantage plan.

The amount you pay for services (co-pays, deductibles, etc.) is set by your Medicare Advantage plan, and approved by Medicare.

Your doctor sends the bill to Medicare.

Medicare pays its share, then passes the rest of the costs to your Medigap plan for payment.

Cost Low or no monthly premium. But you do have to pay cost-sharing (co-pays, deductibles, etc.).

Note: You must still pay your Medicare Part B premium.

Can be a great option for people who are primarily concerned about paying high premiums.

Cost can change from year to year.

Medicare Advantage Plans have an annual maximum out-of-pocket cost (MOOP) which limits the total amount of money you have to pay in a year for Medicare Part A and Part B.

Higher monthly premium than Medicare Advantage but your out-of-pocket cost-sharing is very predictable.

Medicare Supplement insurance plans and what they cover are fully standardized. (For example, one plan F covers the exact same things as another plan F from another carrier.)

Can be a great option for people who are primarily concerned about paying high out-of-pocket costs if they get sick.

Drug coverage Often includes a Medicare Part D Prescription Drug Plan. Convenience of one card for Medicare Parts A, B and D. Does not include drug coverage, but you can easily add a Medicare Part D Prescription Drug Plan.
Additional Benefits May include routine dental and vision care, gym discounts and reimbursement for medically necessary transportation. Some Medigap plans cover care when you travel outside the U.S.

While Medigap does not cover dental or vision care, some plans offer a dental or vision discount program. You can also purchase separate plans for these services.

Network With HMO plans, you must use in-network doctors and choose a primary care physician.

With PPO plans, you can see a doctor out of network, but pay more.

Seeing a specialist may require a referral.

More freedom of access.

No primary care physician required. No networks.

If your doctor takes Medicare, they will also take your Medigap plan.

When to Enroll
Most people become eligible for Medicare three months before turning 65. If you are disabled, you can become eligible earlier.
You can enroll in Medicare Advantage during one of Medicare’s enrollment periods. Learn which enrollment period is right for you here. The best time to get a Medigap policy is during your Medigap Open Enrollment Period (OEP). Your Open Enrollment Period starts when your Medicare Part B coverage goes into effect and ends six months later.

If you apply for Medigap after your Open Enrollment Period, your premiums may increase, or you may be denied Medigap coverage completely due to your health status. These rules vary by state.

 

Ready to get your Medicare plan recommendation?  Come to Healthpilot today!

 

Deep discussion with financial advisor

How to Protect Your Financial Plans for Senior Clients

To protect your financial plans for senior clients, you need to start talking about healthcare costs and offer solutions.

  • Healthcare costs are the number one financial concern for retirees[1].
  • The average retiree spends 30% of their Social Security income on healthcare[2].
  • Medicare plans are a hundred-billion-dollar industry[3].
  • Senior clients who don’t feel they are being heard will look for a new financial advisor.
  • Healthpilot finds the right Medicare plan for your clients for life, which could save them thousands every year.

Your clients are worried.

Every day your clients hear stories about rising healthcare costs.  A patient is shocked to receive a $50,000 hospital bill. A drug that once cost $200 suddenly costs $3,000. These costs can threaten your clients’ wealth and prevent them from reaching their financial goals. To protect your financial plans for senior clients, you need to address these fears. If you won’t discuss them with your clients, another financial advisor will.

You can’t afford to have a Medicare blind spot. That’s why Healthpilot gives you a complete solution for your clients on Medicare. We do all the work of finding your clients the right Medicare plan. We even provide an estimate of plan savings and expenses for use in financial planning.

Medicare is key to managing healthcare costs.

Seniors and some people under 65 with disabilities have Medicare to help protect them from rising healthcare costs. They can also buy additional protection beyond Original Medicare (Medicare Parts A and B). Approximately 14.1 million people have Medicare Supplement Insurance (Medigap)[4].  And more than 26 million people have Medicare Advantage Plans[5]. In fact, only 17% of those with Original Medicare have no additional coverage[6]. Healthpilot offers your clients Medicare Advantage, Medigap and Medicare Part D Prescription Drug Plans available in their area. All in one place. All online.,

Finding the right plan is a challenge.

The average person on Medicare has a choice of 33 Medicare Advantage Plans and 30 Part D prescription drug plans[7]. Then plan marketers and Medicare brokers add to the confusion by bombarding your clients with phone calls, junk mail and spam. But no matter how many choices your clients have, Healthpilot will find them the right plan for their needs in minutes. Plus, they can enroll in their plan right on Healthpilot.

Make healthcare part of every client conversation.

Good communication is essential.  To protect your financial plans for senior clients, you need to make healthcare costs part of every conversation. Just as you guide new parents about saving for college, you should talk to Medicare-eligible clients about managing healthcare costs. Fortunately, you don’t have to be a Medicare expert to do this. Simply refer your clients to Healthpilot.  Once they tell us a little about how they use healthcare, we’ll recommend the right plan.

Review Medicare coverage annually.

The most important time to talk to clients about Medicare is before the Medicare Annual Enrollment Period.  Every fall, Medicare users have a seven-week window starting October 15 to review their current coverage and make changes. But too many clients pass up this opportunity. In fact, in 2020, 71% of Medicare users did not review their Medicare coverage at all during Medicare Annual Enrollment[8]. However, almost half of Medicare members who review their coverage during this period save money[9]. Additionally, many people qualify for Special Election Periods which will allow them to get a new Medicare Advantage or Prescription Drug plan outside of the Annual Enrollment Period.  And your clients can enroll in Medicare Supplement Insurance or switch between Medicare Supplement Insurance plans any time of year. With Healthpilot, you can give your clients an easy way to take advantage of this opportunity.

What if your clients don’t review their coverage?

Clients who don’t review their coverage may find that their Medicare plan has changed. For example, it may cost a lot more. Or a favorite doctor may no longer be in their network. This year, Medicare members face a 14.5% median increase in the cost of Medicare Part B premiums. This annual increase is the highest in the program’s history. But encouraging clients to review their coverage can save them from wasting money on the wrong Medicare plan. Fortunately, Healthpilot finds your clients the right Medicare plan for their needs and protects them from future changes, too. If we find a plan that could be better for their needs than their current plan, we’ll let them know.

Protect your financial plans for senior clients with Healthpilot.

As always, it comes down to better service. Without a solution to Medicare, financial advisors risk pushing senior clients away. But advisors who can get their clients into the right Medicare plan will thrive. Healthpilot does all the work of finding your clients the right Medicare plan. So you can focus on your core services. And we keep them in the right plan for life, which could save them thousands. It’s free, easy and secure for both advisors and clients. All you have to do is send an online referral.

Learn more about Healthpilot for financial advisors and set up your account today.

Let’s talk about what partnering with Healthpilot can do for your business. Email our Healthpilot Partner Success Team at [email protected].


[1] Edward Jones, The Four Pillars of the New Retirement, Jan., 2021.
https://www.edwardjones.com/sites/default/files/acquiadam/2021-01/Edward-Jones-4-Pillars-US-report.pdf

[2] USA TODAY, The average retiree spends 30% of their Social Security income on health care. Feb., 2022. https://www.usatoday.com/story/money/personalfinance/retirement/2022/02/06/health-care-eats-up-30-percent-of-social-security-income/49763823/

[3] Kaiser Family Foundation, Medicare Advantage in 2021: Enrollment Update and Key Trends, June, 2021.
https://www.kff.org/medicare/issue-brief/medicare-advantage-in-2021-enrollment-update-and-key-trends/

[4] American Association for Medicare Supplement Insurance, Medicare Supplement Insurance Statistics Data 2019, 2019, https://medicaresupp.org/wp-content/uploads/2019/06/2019-Medicare-Supplement-Data-Page-1.pdf

[5] Kaiser Family Foundation, Medicare Advantage in 2021: Enrollment Update and Key Trends, June, 2021.
https://www.kff.org/medicare/issue-brief/medicare-advantage-in-2021-enrollment-update-and-key-trends/

[6] Kaiser Family Foundation, A Snapshot of Sources of Coverage Among Medicare Beneficiaries in 2018, March, 2018, https://www.kff.org/medicare/issue-brief/a-snapshot-of-sources-of-coverage-among-medicare-beneficiaries-in-2018/

[7] Kaiser Family Foundation, 7 in 10 Medicare Beneficiaries Report That They Did Not Compare Their Coverage Options During a Recent Open Enrollment Period, Oct., 2021.
https://www.kff.org/medicare/issue-brief/seven-in-ten-medicare-beneficiaries-did-not-compare-plans-during-past-open-enrollment-period/

[8] Kaiser Family Foundation, 7 in 10 Medicare Beneficiaries Report That They Did Not Compare Their Coverage Options During a Recent Open Enrollment Period, October., 2021.
https://www.kff.org/medicare/issue-brief/seven-in-ten-medicare-beneficiaries-did-not-compare-plans-during-past-open-enrollment-period/ 

[9] Kaiser Family Foundation, To Switch of Not to Switch: Are Medicare Beneficiaries Switching Drug Plans To Save Money?, Oct., 2013.
https://www.kff.org/medicare/issue-brief/to-switch-or-not-to-switch-are-medicare-beneficiaries-switching-drug-plans-to-save-money/

senior couple with financial advisor

Financial Advisor’s Guide to Medicare Advantage & Medigap

Healthcare costs make up a large (and growing) portion of your clients’ annual expenses.  But finding the right Medicare plan to protect your clients’ assets doesn’t happen by accident. As their financial advisor, you need to guide them.

The good news? You don’t have to be an expert to help them choose the right coverage. Healthpilot does that for you.  After a referral from you, Healthpilot can search many of the Medicare Advantage and Medigap plans available to your client to find the right one for their healthcare needs. It’s fast, easy, secure and all online.

Consumers may not have a Medicare Advantage and a Medigap plan at the same time. So if your clients want coverage beyond Original Medicare, they will have to make a choice. Here are the key differences you need to know.

Plan Medicare Advantage Medigap
What is it?
Note: Medicare Parts A and B are required to have Medicare Advantage or Medigap.

Medicare Advantage includes all the services covered under Medicare Part A and Part B. Learn the basics of Medicare here.

Many plans cover routine dental care, vision care and prescription drugs.

Medigap helps pay your share of medical expenses like co-pays, deductibles and coinsurance after Medicare pays for services covered by Part A and Part B.

How does it work?

Your doctor sends the bill to your Medicare Advantage plan.

The amount you pay for services (co-pays, deductibles, etc.) is set by your Medicare Advantage plan, and approved by Medicare.

Your doctor sends the bill to Medicare.

Medicare pays its share, then passes the rest of the costs to your Medigap plan for payment.

Cost

Low or no monthly premium. But you do have to pay cost-sharing (co-pays, deductibles, etc.).

Note: You must still pay your Medicare Part B premium.

Can be a great option for people who are primarily concerned about paying high premiums.

Cost can change from year to year.

Medicare Advantage Plans have an annual maximum out-of-pocket cost (MOOP) which limits the total amount of money you have to pay in a year for Medicare Part A and Part B.

Higher monthly premium than Medicare Advantage but your out-of-pocket cost-sharing is very predictable.

Medicare Supplement insurance plans and what they cover are fully standardized. (For example, one plan F covers the exact same things as another plan F from another carrier.)

Can be a great option for people who are primarily concerned about paying high out-of-pocket costs if they get sick.

Drug coverage

Often includes a Medicare Part D Prescription Drug Plan. Convenience of one card for Medicare Parts A, B and D.

Does not include drug coverage, but you can easily add a Medicare Part D Prescription Drug Plan.

Additional Benefits

May include routine dental and vision care, gym discounts and reimbursement for medically necessary transportation.

Some Medigap plans cover care when you travel outside the U.S.

While Medigap does not cover dental or vision care, some plans offer a dental or vision discount program. You can also purchase separate plans for these services.

Network

With HMO plans, you must use in-network doctors and choose a primary care physician.

With PPO plans, you can see a doctor out of network, but pay more.

Seeing a specialist may require a referral.

More freedom of access.

No primary care physician required. No networks.

If your doctor takes Medicare, they will also take your Medigap plan.

When to Enroll
Most people become eligible for Medicare three months before turning 65. If you are disabled, you can become eligible earlier.

You can enroll in Medicare Advantage during one of Medicare’s enrollment periods. Learn which enrollment period is right for you here.

The best time to get a Medigap policy is during your Medigap Open Enrollment Period (OEP). Your Open Enrollment Period starts when your Medicare Part B coverage goes into effect and ends six months later.

If you apply for Medigap after your Open Enrollment Period, your premiums may increase, or you may be denied Medigap coverage completely due to your health status. These rules vary by state.

Learn more about Healthpilot for financial advisors.

Let’s talk about what partnering with Healthpilot can do for your business. Email our Healthpilot Partner Success Team at [email protected].