By Howard Peck
Medicare Supplement Specialist

As we begin a New Year, I thought I would offer a very concise Q and A overview of Medicare. (Note: All of the answers below have variables and nuances depending on the situation and individual)

Because it is a government run program, will Medicare offer me inferior care? 
No! Though Medicare administers the program, all care is provided by private doctors, hospitals and laboratories. Medicare will pay approximately 80% of all costs with Medicare Supplements covering the balance.

What exactly does Medicare cost? 
Medicare (Parts ‘A’ and ‘B’) will cost you (in 2014) $104.90 per month. To supplement Parts ‘A’ and ‘B’, Medicare Advantage Plans (HMOs) can cost under $50 per month, and Medicare Supplement Plans can cost between $100 -$200 per month.

Will Medicare allow me fewer choices that I have now?
Probably not. If you choose a Medicare Advantage HMO plan there are Dr. networks but it will be very similar to what you have now through employer based insurance. If you choose a Medicare Supplement Plan, you will be allowed to see any Dr. or use any hospital in the United States.

Are there large deductibles that need to be satisfied before coverage begins?
No! Officially there are some deductibles that Medicare wants you to pay (for example, the $147 per year medical services deductible) but typically the Medicare supplement plans would pay these deductibles for you.

What about pre-existing conditions?
To purchase Parts A and B, there are never medical pre-existing conditions. And when you first go on to Medicare, you may choose any Supplemental Plan with no pre-existing condition issues or limitations.

If I choose to take Social Security benefits early at age 62, may I also sign up for Medicare?
No! Enrolling in Medicare cannot be earlier than age 65 unless you are officially disabled and collecting Social Security disability payments.

Will Medicare cover my younger spouse and/or other dependents?
No! Family coverage doesn’t exist in Medicare. Also, if your spouse and you are both on Medicare, you each pay premiums separately and there are not any “married couple discounts”

Must I enroll in Medicare when I turned 65?
You do not have to enroll in Medicare and there will not be penalties if you are covered by employer-based insurance from your job or your spouse’s job. If you have no employer-based insurance and you sign up after age 65 there will be penalties added on to your monthly premiums when you eventually enroll in Medicare.

Do I need to enroll in Medicare every year?
No! Your coverage rolls over from year to year for Parts A and B as well as your Supplemental Plan

Will Obamacare affect my Medicare coverage?
No! When Obamacare was signed into law in 2010 some changes were made that improved preventative care services and drug coverage, but in essence, Obamacare is for folks under 65 and Medicare is for folks over 65.