[00:00:00] Most Americans who turn 65 are eligible for Medicare, a federal program that covers many health expenses for seniors, but the program is complicated. Here are five important facts you need to know. First, Medicare is not free of the four parts part. A hospital insurance is the only one that normally has no premium. Parts B, C and D have premiums that vary. Second, enrollment is not automatic. You have to sign up for Medicare benefits. The exception is for those already receiving Social Security benefits. If you're already receiving Social Security benefits, you will automatically receive Medicare Parts A and B.
[00:00:43] Third, late enrollment can mean expensive and permanent premium penalties. You have seven months starting three months before your sixty fifth birthday month to sign up. Penalty free.
[00:00:55] Fourth, Medicare covers a lot, but not everything services like long term care, dental and vision care are not covered. People often purchase additional private coverage for these types of services. And fifth, if you're rich, you'll pay more high income seniors, pay surcharges on premiums for both parts B and D. Let us help you with your important Medicare decisions. Give us a call or visit our Web site today.