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Medicare Information - Cottage

Costs, Eligibility, and Other Important Information

Medicare

Medicare, run by the Centers for Medicare & Medicaid Services, helps pay for inpatient hospital care, nursing care, doctors’ fees, drugs, and other medical services and supplies to people age 65 and older, as well as to people who have been receiving Social Security disability benefits for two years or more.

Eligibility

You are age 65.
You are a U.S. citizen or permanent resident who has lived in the U.S. for at least 5 years.
You have worked and paid into Social Security for more than 10 years or your spouse is Medicare eligible.
You or your spouse is a government employee who did not pay into Social Security but paid Medicare taxes.
If under 65 and entitled to Social Security disability benefits for at least 24 months.
If under 65 with Lou Gehrig’s disease.
If under 65 with permanent kidney failure requiring dialysis or transplant.

10k+

Satisfied Customers

100+

Professional agents

37+

Years in Medicare

50+

Insurance plans offered

Cost Based on Income

File an Individual Tax Return	File a Joint tax Return	File Married & Separate Tax Returns	You Pay Each Month for Part B (in 2024)	You Pay Each Month for Part D (in 2024)
$103,000 or less	$206,000 or less	$103,000 or less	$174.70	your plan premium
above $103,001 up to $129,000	above $206,001 up to $258,000	not applicable	$244.60	$12.90 + your plan premium
above $129,001 up to $161,000	above $258,001 up to $322,000	not applicable	$349.40	$33.30 + your plan premium
above 161,001 up to 193,000	above $322,001 up to $386,000	not applicable	$454.20	$53.80 + your plan premium
above 193,001 up to 499,999	above $386,001 up to $749,999	above $103,001 up to $396,999	$559.00	$74.20 + your plan premium
greater than $500,000	greater than $750,000	greater than $397,000	$594.00	$81.00 + your plan premium

Social Security

If you’re already receiving Social Security benefits, you will automatically be enrolled in Medicare Part A & Part B when you turn 65. Otherwise, you will have to sign up yourself. You can enroll: online, by calling Social Security at 1-800-772-1213 (TTY users 1-800-325-0778) Monday through Friday from 7AM to 7PM, or in-person at your local Social Security office. You can complete your application up to 4 months before you want your retirement benefits to start. If you would like assistance in enrolling in Medicare one of our Senior Account Managers will help to make sure you get enrolled in the right parts of Medicare – call our office for assistance 1-888-467-4811.

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The Coverage Gap

Donut Hole

The “Donut Hole” is the period of coverage when you and your carrier reach a defined out of pocket expense. This is known as the “Coverage Gap.” When you are in the “Donut Hole” you will pay more than your plan’s agreed percentage for Prescription Drugs. Please refer to the chart on the left for specific coverage information for 2024.

This is intended as a basic reference guide, all information is subject to change. We recommend contacting one of our senior account managers for more information regarding your situation.