Health insurance is incredibly important, especially when you reach retirement age. If you will soon qualify for Medicare, here’s why you should enroll immediately.
What Is Medicare?
Medicare is a public health insurance program that currently provides benefits to more than 100 million Americans. Through Medicare, beneficiaries receive hospital insurance and medical insurance. Some also receive prescription drug coverage and other benefits.
Who Is Eligible For Medicare?
To become eligible for Medicare, you must be age 65 or older or have a qualifying disability. If you are below 65, you must collect Social Security Disability benefits for at least 24 months before you can apply for Medicare benefits. Though, some people below 65 can get covered without enduring the waiting period. People with amyotrophic lateral sclerosis or End-Stage Renal Disease can qualify for Medicare soon after their initial diagnosis.
Why Get Medicare?
If you are eligible for Medicare, you should get it because your benefits will help you pay for health care services. Even if you already have insurance through your employer, Medicare coverage can still be valuable. With two forms of insurance covering you, there’s no need to worry about medical expenses breaking the bank.
You should also get Medicare because choosing not to do so can result in late enrollment penalties that persist for your entire lifetime. If you plan on using your Medicare benefits at some point, this can be terrible because the late enrollment penalty is an additional 10% of your monthly premium for every 12-month period you wait to enroll.
Who Needs Medicare?
People who don’t have other insurance definitely need Medicare. Without it, they could be subject to massive health care expenses. People with disabilities should also consider getting Medicare because a disability can be very expensive to treat.
How To Enroll In Medicare
If you are eligible for Medicare, you can enroll by submitting an application online, in-person, or via the mail. Once you’re approved, you can choose which plan you’d like to enroll in.
Learn More About Medicare Benefits
If you still aren’t sure whether or not you should enroll in Medicare, speak with a Medicare specialist to learn more about your options. When you’re ready, you can call Medicare With Jake for a free consultation or quote on coverage in your area. Our phone number is (833) NOW-JAKE.
