Frequently Asked Questions

If your employer has 20 or more employees and your coverage is considered "creditable," you can usually delay enrolling in Medicare Part B and Part D without facing a late enrollment penalty. However, if your company has fewer than 20 employees, you generally must sign up for Medicare when you turn 65, as Medicare becomes your primary insurance. Always check with your HR department before delaying.

Medicare is a federal health insurance program primarily for individuals aged 65 and older, or younger individuals with specific disabilities or End-Stage Renal Disease. Medicaid is a joint federal and state program that provides health coverage to individuals with limited income and resources, regardless of age. If you qualify for both, you are considered "dual eligible" and can use both programs together to lower your costs.

A formulary is a structured list of prescription medications covered by a specific Medicare insurance plan. Plans divide medications into different "tiers," which dictate your copay cost. It is critical to review a plan's formulary every year during the Annual Enrollment Period, as insurance companies frequently change which drugs they cover and how much they cost.

No. Most people can only switch plans during specific windows. Your primary opportunity is the Annual Open Enrollment Period from October 15 to December 7. If you are already enrolled in a Medicare Advantage plan, you can also use the Medicare Advantage Open Enrollment Period from January 1 to March 31 to switch to a different Advantage plan or go back to Original Medicare.

If you lose your red, white, and blue Medicare card, you can easily log into your personal, secure account online to print an official copy or order a replacement card by mail through the Official Social Security Portal.