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Watching Your Wallet: open enrollment for Medicare

Published: Oct. 27, 2020 at 4:43 PM EDT
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LANSING, Mich. (WILX) - It’s open enrollment time for Medicare. Those who want to enroll have until December 7 to sign up.

Medicare is the federal health insurance program for people 65 or over- as well as for some younger people with disabilities.

Open enrollment is available right now for anyone who missed it in the three months before or after their 65th birthday. This is also your chance to change your plan if you need to.

If you’re not receiving Social Security benefits, Nerdwallet Medicare expert Liz Weston says you can sign up through the Social Security Administration website.

“The two big myths are that Medicare is free and that Medicare covers everything. So neither one is true," said Medicare expert, Liz Weston. "The part of Medicare that covers hospitalization, Medicare Part A, is premium free for most people. So, that’s the thing when people say free that’s what they’re usually talking about.”

If you’re receiving Social Security benefits when you turn 65, you will be enrolled automatically in Medicare for the following:

  • Part A.) covers hospital costs
  • Part B.) covers doctor visits
  • Part D.) covers prescription drug costs

Part B does have a monthly premium for about 145 bucks on average. For Part D, you’ll need to enroll yourself because that’s not automatic.

Also, don’t worry. Every state has a state health insurance assistance program, which can help you with free advice.

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