Medicare is available to people over 65 who are US citizens or legal permanent residents. In addition, you or your spouse must have worked for 10 years (40 quarters). Some people under 65 may also qualify for Medicare coverage if they have certain disabilities and meet the guidelines.
Government provides Medicare Parts A and B.
Most people don’t pay a premium for Part A, which covers hospital care in hospitals, specialized nursing facility care, home health care, and stays in hospice centers because when I worked, I paid in the system. There is a deductible of approximately $ 1,316 and a co-insurance after 60 days.
This is medical insurance that covers visits to medical professional and other providers of health care, home care, outpatient care, durable medical equipment and certain preventive services instead of hospital care. The prize is approximately $ 134.00 and the deductible is $ 185.00. Part B was designed for the government to pay approximately 80% of medical expenses.
This is called Medicare Advantage, which combines parts A and B and adds additional benefits such as prescription drug coverage (part D) and dental or visual coverage. They may have a zero premium (you still have to pay Medicare premiums) or an additional premium based on benefits.
Private insurance companies cover the Prescription Drug Plan and costs range from approximately $ 15 to $ 100 per month. Each has a list of approved medications.
Medicare Advantage plans and Supplements
These plans, known as Medigap, insure part or all of the costs not included in Parts A and B because Medicare does not insure all health care costs. However, these plans do not cover medicines and have additional premiums for the Parties. Click HERE to learn more.
Many people select a combination of them to get the most complete coverage possible. For example:
Medicare Supplement Policy which contain Medicare Parts A and B and D (that will cover for prescription medication)
Medicare Advantage Plans (i.e. Part C) that contains Medicare Parts A and B, and most Part C plans include Part D (to cover prescription drugs)
Other Medicare Facts
You cannot have both: a Medicare supplement and Medicare Advantage plans.
You can change your Part C or Part D plan each year during the annual enrollment period from 2018 to October 15 through December 7, 2017.
Some people who are eligible for Medicaid (another program of government) may qualify for the status of Qualified Medicare Beneficiary (QMB) only. This means that they get assistance with the premiums of Medicare and items for cost-sharing such as co-insurances, deductibles, or copayments. With this state, however, there is no coverage for other health care costs. Medicare approved providers should NOT charge people with QMB status, but the Medicaid state can pay these costs.