Medicare is the national health insurance program for people aged 65 years or older. Individuals below this age who have certain disabilities or medical conditions can also qualify for Medicare. This program helps with the cost of health care so that you can receive any treatments or other care you may need.

If you are about to turn 65, then it may be time for you to consider enrolling in a Medicare program. There are several options available for you to choose from, as well as supplemental programs to provide coverage beyond your chosen Medicare plan. If you are eligible for Medicare, we encourage you to enroll promptly, as delaying your enrollment may incur penalties.

We encourage you to contact our insurance agent at SBI Benefits for more information about Medicare programs in Las Vegas and Sparks, Nevada.

Medicare Parts +

You have several options available when enrolling in Medicare. These include:
Each of these options covers specific aspects of your health care. For example, Medicare Part A encompasses hospital stays, while Medicare Part B covers your medical fees. Medicare Part C will allow beneficiaries access to medical care from a number of medical providers, and Medicare Part D will cover prescription drugs. Medigap and Medicare Advantage Plans provide supplementary coverage for those enrolled in standard Medicare plans.

Medicare Enrollment +

Enrollment in Medicare begins three months before your 65th birthday and runs for up to seven months after. If you are receiving Social Security benefits you do not need to do anything.You will be automatically enrolled in Medicare Parts A and B beginning the month of your 65th birthday. If you are not receiving Social Security benefits you will be required to enroll in Medicare by contacting the Social Security Administration by phone at 800-772-1213 or online at https://www.ssa.gov/benefits/medicare/.
Our team of insurance agents recommends that you begin your enrollment process as soon as possible so that your coverage can begin as soon as you turn 65.

Medicare Penalties +

Failure to enroll in Medicare Part B immediately may result in a penalty. These penalties include:

  • Your premium for Medicare Part B may increase by 10% for each 12-month period that you might have had Part B coverage but did not take it.
  • You will need to wait for the general enrollment period before applying. Medicare general enrollment usually runs from January 1st to March 31st of each year.

With deductibles, copayments and coverage exclusions you will find that Medicare only pays about half of your medical costs. Most of the balance not covered under Medicare can be insured by purchasing a Medigap or Medicare Advantage Plan from a private insurance company.
Medicare offers Medicare Part C (also known as Medicare Advantage). You must be enrolled in Medicare Parts A and B to enroll in a Medicare Advantage Plan. Subscribing to a Medicare Advantage Plan provides you with all of your Part A and Part B coverage as well as additional benefits, such as vision, hearing, dental, health and wellness programs. Most of these plans also include Medicare prescription drug coverage.
Finally, Medicare provides prescription drug coverage under Medicare Part D. If you do not enroll in a Medicare Advantage Plan with prescription drug coverage you will want to enroll in a prescription drug plan at the time of your enrollment in Parts A and B.
For each month you delay enrollment beyond your initial enrollment period, your Medicare Part D premium increases by a minimum of 1%. If you have coverage from medicines from a private insurance company, such as a retirement plan which works as well as Medicare, you may be exempt from such penalties. This is known as “credible coverage.” Your insurance company should inform you whether their coverage is considered credible.