Original Medicare - Part A and Part B

There are 2 parts to Original Medicare

Part A of Original Medicare
Part B of Original Medicare

Original Medicare in Colorado

Original Medicare is a government program that is your foundation. In addition there are three types of Medicare products available to you from private insurance companies.
Medigap—also known as Medicare Supplements

Part C: Medicare Advantage Plans

Part D: Prescription Drug Plans

Although marketed by private insurance, all three products are tightly regulated by government agencies.

It's a great start: Original Medicare in Colorado is a start but most people purchase additional coverage as there is significant financial exposure with Original Medicare alone. The good news is that the vast majority of doctors and hospital accept Medicare.

Part A:

Part A is inpatient hospital coverage, skilled nursing home, and home health care. There is no cost for people who paid Medicare payroll taxes for the required 40 quarters.

If you are hospitalized in 2018, you will pay a deductible of $1340. After 60 days in the hospital, you must pay a copay of $335 per day, and after 90 days you would pay a copay of $670 per day.

Part B:

Part B is outpatient medical coverage for doctor visits, lab and X-rays, outpatient surgery, therapy, durable medical equipment, and more. There is a premium to pay for Part B of Medicare.

If you have outpatient medical expenses in 2018, you will first pay a deductible of $183 for the year. After that you must pay 20% of “Medicare approved” amounts. In addition, you would be responsible for up to 15% of the doctor’s charges above what Medicare approves, unless the doctor accepts “Medicare assignment.” There is no limit to how much you would be responsible to pay if you only had Medicare by itself. That is why most people sign up for a Medigap plan or a Medicare Advantage.

How Do I Enroll in Medicare in Colorado?

If you are already drawing Social Security benefits, it’s done for you! You will automatically receive your red, white & blue Medicare card in the mail about 3 months before your birthday month.

However, if you are not in the Social Security system yet, you will need to actively enroll yourself. You can enroll for Medicare in Colorado online, by phone, or in person at your local Social Security office.

If you worked past 65 and are just now enrolling for Original Medicare, there is some additional paperwork required that takes away the online enrollment option. You will need to have your employer submit proof that you had group insurance since turning 65 in order to avoid late enrollment penalties.

Here is a detailed discussion of how to apply for Medicare.

What do the letters mean on my Medicare Card?

Your Medicare claim number includes a letter that signifies a beneficiary type. Here is a list of the most common letters:

A — Primary Claimant (wage earner) Most frequently used code.

B — Spouse (spouse of retired worker)

B6 — Divorced Spouse, age 62 or older

C1-C9 — Child (includes minor, student or disabled)

D — Aged Widow(er), age 60 or over

D6 — Surviving Divorced Spouse, age 60+

HA — Receiving Disability Benefits

T — Enrolled in Medicare but temporarily delayed SS retirement benefits

Drawing Social Security Disability?

If you are drawing Social Security because of a disability, you should receive your Medicare card about 3 months before your 25th month of disability benefits.

We can help you find a Medigap policy during your one-time 6-month open enrollment period, which starts with the month in which your Colorado Medicare begins.

If you miss this deadline, all is not lost. We can still get you enrolled into a Medicare Advantage Plan each year from October 15th through December 7th.

Call us today at 970-224-5500 or toll free at 800-553-1444 for a free, no-obligation Colorado Medicare consultation!