Medicare is health insurance for individuals who are 65 years of age and older. If an individual is under 65 years of age but has certain disabilities, Medicare may also apply in that situation. An individual of any age afflicted with End Stage Renal Failure is eligible for Medicare as well. If a person is a United States citizen of at least five years, they would be eligible for Medicare insurance. Medicare information is important for everyone to know, as Medicare can take a great burden off of the shoulders of the beneficiary when this kind of coverage would be needed the most.
Medicare Part A is hospital insurance and will cover the following:
1. Inpatient hospital care.
2. Some care in a skilled nursing facility.
3. Hospice care.
4. Certain Home Health care services.
Anyone working in the United States who pays towards Medicare Part A through their income is eligible for this plan. If that is not the case, a premium can be paid each month for this insurance.
Medicare Part B is medical insurance that will cover the following:
1. Doctors’ services.
2. Outpatient care.
3. Some preventive care, such as flu shots.
Medicare Part B is usually covered by payment of a monthly premium.
Other services can be added to Medicare Parts A and B, such as Part C, which will cover everything that Parts A and B cover along with some additional services. Medicare Part C requires the payment of a monthly premium along with co-payments. Medicare Part D is a plan that will help with prescription drugs.
The Federal Government manages and provides Medicare Parts A and B. A deductible has to be met each year, and co-insurance will usually apply when services are needed. Medicare information provides that this health insurance will cover up to 80% of a number of services, with 20% being the responsibility of the Medicare beneficiary. In some cases, depending on the service, 100% may be covered by Medicare.
Medigap also known as Medicare Supplement Insurance will help to fill in some of the gaps in health insurance coverage, such as deductibles, coinsurance and co-payments. , Medicaid is also available for those individuals or families with a limited amount of resources and income. Medicaid will allow a certain amount of resources to be kept, and the amount will vary from state to state.
Eligibility for Medicaid depends on the following:
2. Existence of disabilities, such as blindness.
4. U.S. Citizenship or an immigrant that is lawfully admitted.
5. Amount of income and available resources.
Anyone who qualifies for both Medicare and Medicaid will find that the majority of health care costs will be covered. If very limited resources are the case for an individual or family with health care issues, then a social worker or case worker in the applicable state should be consulted for further assistance in obtaining Medicaid.
Even though Medicare does cover a good deal when it comes to health care issues, it doesn’t cover everything. Because of this fact, Medicare beneficiaries often decide to get other insurance options that will help with the expenses that their Medicare benefits will not cover. This is a great option if there are pre-existing conditions or disabilities involved that will require quite a bit of care and medical expense. With the proper Medicare information, a Medicare beneficiary can learn where the gaps will fall in coverage and purchase the proper insurance to cover those gaps.
It can be a struggle to have astronomical medical expenses and not be able to pay for the care that is required. With Medicare and other supplemental health policies to fill in the gaps, Medicare beneficiaries should find themselves in a much better position to pay for medical expenses without having to worry about financial problems. It is the wise individual who checks into health insurance coverage ahead of time in order to be properly prepared for tomorrow.