Medicare Made Simple

Your quick guide to understanding the basics of Medicare

Turning 65? You’re not alone.

Every day, thousands of Americans enroll in Medicare. But the options and deadlines can feel confusing. This guide will help you understand the basics, so you feel more confident as you make your decisions.

Remember: Medicare isn’t “one-size-fits-all.” Everyone’s health and budget are different. That’s why reviewing your options with a licensed, independent agent can save you time and stress.

The Parts of Medicare

Part A (Hospital Insurance): Covers inpatient hospital stays, skilled nursing facilities, hospice, and some home health care.

Part B (Medical Insurance): Covers doctor visits, outpatient care, preventive services, and durable medical equipment.

Part C (Medicare Advantage): Plans offered by private companies that bundle Parts A & B, and often Part D. May include extras like dental or vision.

Part D (Prescription Drug Coverage): Helps cover the cost of prescription drugs. Plans are offered by private insurers.

Supplements & Advantage Plans

Medicare Supplement (Medigap): Sold by private insurers. Helps pay costs not covered by Parts A and B, such as deductibles, copayments, and coinsurance.

Medicare Advantage (Part C): Combines hospital, medical, and often drug coverage into one plan. Usually has provider networks.

Choosing between Medigap and Advantage is one of the biggest decisions you’ll make. Both have pros and cons, depending on your health, budget, and lifestyle.

Enrollment Basics

Initial Enrollment Period (IEP): 7 months (3 before, your birthday month, and 3 after).

Annual Enrollment Period (AEP): Oct 15 – Dec 7 (for plan changes).

General Enrollment Period (GEP): Jan 1 – Mar 31 (if you missed your IEP).

Special Enrollment Periods (SEP): Triggered by life events (retirement, moving, losing coverage, etc.).

Note: Missing certain deadlines may result in penalties, especially for Part B and Part D.

Next Steps

You don’t need to figure it all out on your own. At Woodside Financial Services, we:

• Represent multiple insurance companies in Wisconsin

• Offer no-cost, no-obligation consultations • Help you compare your options side by side

• Make sure you understand your choices before you enroll

■ Call us at 715-754-2166

■ Email: darndtwoodside@gmail.com

Licensed Agents: Douglas E. Arndt & Emily Chagnon

Required Disclaimer: We do not offer every plan available in your area. Currently we represent 10 organizations which offer 52 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.