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Medicare Insurance

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Medicare Insurance
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Medicare

Let Goldenwest Licensed Sales Agents Take Care of You

Goldenwest is proud to offer Medicare as a service to our members. If you need help choosing a Medicare Plan, a qualified agent can provide you with assistance. From understanding what Medicare is, what coverage you might need, and how to sign up. We’ll take care of you!

Find an upcoming Medicare seminar near you Talk With a Licensed Sales Agent

Find an upcoming Medicare seminar near you

What is Medicare?

Medicare is federal health insurance for:

  • People who are 65 or older
  • Certain younger people with disabilities

Medicare is split into 4 different parts: A, B, C, and D.

  1. Hospital Stays, nursing facility care, hospice care
  2. Certain doctor's services, outpatient care, medical supplies
  3. Medicare Advantage: combine Parts A and B into one plan plus vision and dental
  4. Prescription drug coverage

How to Sign Up

Initial Enrollment Period Turning 65

If you are enrolling at the age of 65, you will have 3 months before the month of your birthday plus 3 months after the month of your birthday to enroll. That gives enrollees a total of 7 months to enroll during the Initial Enrollment Period (IEP).

For example, if you were turning 65 in May, your IEP would look like this:

Calendar

Special Enrollment Period After Retirement

If you plan on working past the age of 65, your enrollment period will look a little different. The Special Enrollment Period (SEP) will give enrollees 8 months, plus the month of retirement/month of losing coverage, to sign up for Medicare.

So, if you were to retire or lose coverage in March your SEP would look like this:

Calendar

Initial Enrollment Period for Disability

For those applying under a qualifying disability, your IEP is similar to someone turning 65. After receiving disability benefits for 24 months you will automatically be enrolled in Original Medicare (Parts A and B). You will have 3 months before and after your 25th month of disability to enroll in other coverage.

For example, if you were to reach 25 months of disability in April your IEP would look like this:

Calendar

General Enrollment Period

When it comes to Medicare, signing up early is the name of the game. Even if you sign up during the allotted enrollment period, the approval process may take longer than your current coverage will last. To avoid any chances of having a gap between coverages, sign up as soon as you can.

If you miss your enrollment period there is a General Enrollment Period (GEP) every year. However, signing up for Parts A and B are broken up from Parts C and D. Also, you will most likely have to pay a late enrollment penalty on top of your monthly premium.

Calendar

Annual Enrollment Period

Once enrolled in Parts A and B, there is a Annual Enrollment Period during Oct. 15 – Dec. 7. During this time you are allowed to change plans.

Open Enrollment Period

Open Enrollment Period (OEP) is only for those who are already enrolled in an Advantage Plan (Medicare Part C). If you want to switch to a different Advantage Plan, or drop your Advantage Plan all together, OEP is the time do it. If you decide to drop your Advantage Plan, you will also be able to go back to Original Medicare and join a Medicare Prescription Drug Plan during this time. If you make a switch, your new coverage will begin the first day of the month after your new plan gets your request for coverage. OEP runs every year from January 1 through March 31.

Penalties

There may be penalties added on to your monthly premium if you don’t sign up within your enrollment period. Sign up as soon as you can to avoid penalties. Talking with a Licensed Sales Agent will help you to know what penalties you might have to pay, and help you to avoid them altogether.

For accommodation of persons with special needs at meetings call 801-476-5100, TTY 711.

 

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