Easy Medicare Guide for 2020: All the Facts You Need to Know

Here is a truly simple, easy-to-follow list of the most important facts around Medicare for 2020. We’re here to make sure you have all the information and helpful tools you need to make the best health decisions for you, so you can live your healthiest life.

What is Medicare?

Medicare is administered by the Center for Medicare and Medicaid Services (CMS).

Social Security works with CMS to enroll people in Medicare.

Original Medicare

Original Medicare is the name given to Medicare Plans Part A and Part B when used together

for healthcare. Original Medicare is offered through the federal government. While it provides many healthcare services and supplies, it’s important to call out that Original Medicare does not cover all your expenses.

With Original Medicare, you can go to any doctor or hospital that accepts Medicare anywhere in the United States, and Medicare will pay for any Medicare-covered service. This is the amount Medicare participating providers agree to accept as payment in full, subject to deductible, coinsurance, and copayments. You may be required to pay your portion of coinsurance (say, if your plan splits coinsurance between you and your provider 80/20), unless you have additional insurance to cover those costs.

Medicare Part C

If you prefer to receive your coverage from a private Medicare Advantage (Part C) plan, such as an HMO or PPO, simply first enroll in Original Medicare and then pick a Medicare Advantage plan that works for your healthcare needs. Medicare Advantage plans are offered by private carriers and are intended as an alternative to parts A&B.

Medicare Part D

Prescription drug coverage offered by private carriers.

Medigap plans

Medigap plans are intended to supplement or “fill in the gaps” that Medicare Parts A&B or Medicare Advantage plans miss. These plans help cover costs that these plans do not, such as deductibles, copays, coinsurance, and healthcare services when you travel internationally.

Who is Eligible for Medicare?

Americans aged 65 or older are eligible for Medicare. If you are approaching 65 years soon (Happy Birthday!), you can sign up for Medicare as early as 3 months before your birthday month, your birth month, and up to 3 months after your birth month. More on how to sign up later.

Additionally, people under the age of 65 who have been on social security disability for two years or more and people with End Stage Renal Disease (ESRD) or amyotrophic lateral sclerosis (ALS) are also eligible for Medicare. Over 44 million Americans - does this include you?

How do I sign up?

Depending on your preferred way of getting things done, you have 3 options for enrolling.

1. Online at www.SocialSecurity.gov.

2. Over the phone by calling Social Security at 1-800-772-1213 (TTY users 1-800-325-0778), Monday through Friday, from 7 a.m. to 7 p.m.

3. In-person at your local Social Security office.

What are the Medicare Key Dates for 2020?

January 1 to March 31, 2020

General enrollment for Medicare Part B, for people who didn’t sign up when they were first eligible (this is also the general enrollment period for people who have to pay premiums for Medicare Part A and didn’t sign up when first eligible).

January 1 to March 31, 2020

Medicare Advantage open enrollment period for people who already have Medicare Advantage and want to switch a different Medicare Advantage or to Original Medicare plus a Part D prescription drug plan.

October 15 to December 7, 2020

Open enrollment period for Medicare Advantage, Medigap plans, and Medicare Part D. Open Enrollment is when you can sign up for the Medicare programs that are right for you.

• Enroll in Medicare for the first time (this could be you!)

• Switch plans

  • From Original Medicare to Medicare Advantage

  • From Medicare Advantage to Original Medicare

  • From one Medicare Advantage plan to another

  • From one Medicare Part D plan to another.

• Enroll late in a Medicare Part D plan if you missed doing so the first time around. A late enrollment fee may apply.

• First year of Advantage coverage: One-time trial period during which it’s possible to switch from Medicare Advantage to Original Medicare, Medigap or Part D plan.

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