📘 Medicare FAQs

1. When should I enroll in Medicare?
You should enroll during your Initial Enrollment Period, which starts 3 months before your 65th birthday and ends 3 months after.

2. What’s the difference between Medicare Advantage and Medigap?
Medicare Advantage (Part C) replaces Original Medicare and may include extra benefits.
Medigap works with Original Medicare to cover out-of-pocket costs like deductibles and co-pays.

3. Do I need a Part D plan?
If you take prescription medications, yes. Even if you don’t take drugs now, enrolling in a Part D plan when you're first eligible can help avoid late penalties later.

4. Can I change my Medicare plan each year?
Yes. During Open Enrollment (Oct 15 – Dec 7) you can switch Advantage or Part D plans.

5. Is Medicare free?
Part A is usually free, but Part B has a monthly premium. Other parts (C & D) vary in cost based on the plan.

1. What’s the difference between term and whole life insurance?

• Term life covers you for a set period (e.g., 10, 20 years) and is more affordable.
   
• Whole life lasts your entire life and builds cash value, but it’s more expensive.
   

2. How much life insurance do I need?
A general rule is 10–15x your annual income, or enough to cover debts, income replacement, and final expenses.

3. Do I need a medical exam?
Some policies require a medical exam, but no-exam or simplified issue options are available—especially for final expense insurance.

4. What’s final expense insurance?
A small, affordable whole life policy designed to cover funeral costs and other end-of-life expenses.

5. Can I get life insurance if I’m over 65?
Yes. Many companies offer life insurance up to age 85, including guaranteed-issue policies.

1. What’s the difference between HMO and PPO plans?

• HMO: Lower cost, but you must use a specific network of doctors.
   
• PPO: More flexibility to choose providers, often at a higher cost.
   

2. What’s covered under the Affordable Care Act (ACA)?
ACA plans include essential benefits like doctor visits, hospital stays, prescriptions, maternity care, and preventive services.

3. Can I get coverage outside Open Enrollment?
Yes, if you qualify for a Special Enrollment Period due to events like job loss, moving, or having a baby.

4. What’s a deductible?
It’s the amount you pay out-of-pocket before your insurance starts covering costs. Plans with lower premiums usually have higher deductibles.

5. Is dental or vision insurance included?
Most health plans don’t include dental or vision, but standalone plans are available and often recommended.