Understanding Your Medicare Choices

Medicare health benefits seem confusing to many people, so it is important to learn what is available and what to expect before you have to sign up.

You have three months before you turn 65, the month you turn and three months after you are 65 to decide how extensive are the Medicare benefits you would like to have. The options are:

• Original Medicare, which is fee-for-service coverage traditionally provided by the government;
• Supplemental insurance (also known as Medigap) that works alongside Original Medicare; or
• Medicare Advantage plans.

You must sign up during this seven-month window to avoid being hit with lifetime penalties. Even if you are in an employer plan, there are steps you will need to take so you don’t get dinged. Understanding Your Medicare Choices