Do you need to make a plan for your Medicare coverage? When making your plan, it’s important to start by understanding the rules covering eligibility and entry into the program. After you have a good grasp of these rules, you can choose the right private Medicare Insurance plan to help keep your medical costs down. Read this brief guide to Colorado Medicare eligibility requirements for 2023 plans to get started planning.
Most people in Colorado become eligible to use their Medicare benefits when they turn 65 years old. When you become eligible for Medicare because you’re turning 65, you’ll be able to use a seven month enrollment window to get into the program.
If you’re receiving Social Security retirement income by this time, you will be enrolled automatically. You’ll receive your Medicare card in the mail; you won’t have to apply for benefits.
If you’re not receiving Social Security benefits when you turn 65, you will have to enroll manually. You can do this in several easy ways, including:
Before you do this, though, you’ll want to figure out whether you need to enroll at age 65. If you plan to keep working, and you’re covered by your employer’s plan, you may decide to delay taking your Part B benefits. In this way, you can avoid paying a premium for coverage you don’t need. You will probably be required to enroll in Part A, even if you delay taking Part B. Since most people qualify for premium-free Part A, this shouldn’t cost you any money.
On the other hand, if you aren’t going to keep working, or if your employer coverage will cost more than your Medicare coverage, you’ll want to sign up for Part B during your enrollment window.
Most people choose to enhance their Part A and Part B Medicare coverage with a private Medicare Insurance plan of some kind. The most comprehensive private coverage is Medicare Supplement Insurance. Supplement Insurance, which is commonly known as Medigap, functions as a secondary coverage; it pays what Original Medicare doesn’t pay.
You may encounter difficulty enrolling in Medicare Supplement Insurance in Colorado if you’ve qualified for Medicare before age 65. This happens in cases of certain disability situations or the diagnosis of certain illnesses. Colorado requires insurance companies to offer Medigap coverage to people under 65. Unfortunately, the premiums for people under 65 years old can be extremely high. This can make Medigap coverage unaffordable.
To overcome this, many people choose to use one of the other private options like Part D Prescription Drug Plans or Part C Medicare Advantage plans to augment their Medicare coverage in the years before they turn 65.
Once you turn 65, you will have a six month open enrollment window during which you can add Medigap coverage on a much more affordable basis. During this Medigap Open Enrollment Period, you can’t be turned down or charged higher premiums due to your health status, which makes the premiums much lower.
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Participating sales agencies do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800–MEDICARE to get information on all of your options.
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Enrollment in the described plan type may be limited to certain times of the year unless you qualify for a special enrollment period.