2014 Medicare and Medigap Updates
The majority of people who have health care coverage also have Medicare questions. Because of the vast amount of information and plans, many don’t understand exactly what Medicare covers in case of illness or need.
Medicare basically provides seniors age 65 and older and those with certain disabilities, a very generous program. It can include various benefit sections such as prescription drug coverage, hospital insurance and doctor’s services coverage. It is a Federal Government program and there are four parts to the service. We hope this information will answer many of your Medicare questions.
Here are the most popular available plans
Part A Hospital coverage
Part B Medical Insurance
Part C Medicare Advantage Plans
Part D Prescription Drug Plans
Here are some of the most common Medicare questions asked:
Seniors 65 or over, the first day of the month you turn 65.
Under 65 if you have been receiving Social Security Disability Insurance for more than two years
If you have permanent kidney failure.
Part A and What it Covers?
Hospital Insurance program, contributes to the cost of the following:
Stay in Hospital
Care in a Skilled Nursing facility
Mental Health and Psychiatric care
Selected Home Care services
If you are eligible for Medicare and have contributed through working, or disability, you do not have to pay a monthly premium on Part A.
Part B and What it Covers?
Part B Medical Insurance Program covers services deemed necessary by Medicare as being medically important or necessary.
Defensive illness - services to prevent illness such as flu shots.
Contributes to payment of medical equipment, wheelchairs and home use prescribed equipment
Part C Medicare Advantage Plan
The Medicare Advantage Plan gives you the option of choosing your own suitable health care plan. Medicare Advantage Plan, if purchased through a private insurance company must be approved by Medicare. This can include Private Fees-for-service. Medicare Advantage plan receives funds from Medicare to provide benefits included in Part A and B above.
Part D Prescription Plans
Medicare Plan D is an optional plan to cover most of your prescription cost. However, to be eligible you must be enrolled in both plans A and B
Further Medicare questions are:
What will my choices be when I reach 65?
There are two programs to choose from regarding your medical care once you reach 65. The Original Medicare plan or Medicare Advantage Plan.
The Original Plan includes Part A Hospital Insurance, and Part B Medical Insurance. You will have the option of enrolling in a Prescription Plan, Part D.
How Do I Enroll?
Nothing needs to be done on your part. The month you turn 65 you will automatically be enrolled in Medicare Part A and Part B. You will receive your Medicare card in the mail about 8 weeks before your 65th birthday. If you choose not to have Medicare part B follow the instructions that come with your Medicare card. Complete information will be included. If you are not turning 65 and need to apply for Medicare, you would contact your local office.
Unfortunately Medicare is not going to pay all of your medical bills. I only covers up to around 80% which could leave you owing a huge hospital or medical bill at a time when you can least afford it. To prevent this you will want to check into Medicare supplement insurance, or medigap as it is called. We have some very informative articles on the subject.
We would encourage you to read more of our articles to answer your medicare questions. Many of them will give you a lot more detailed information on the subject. We are also adding new ones every month to keep up with any updates.