Medicare is a federal health insurance program that is available to you if you are 65 years old, blind, or disabled. Medicare is divided into four parts: Part A, Part B, Part C, and Part D.
Part A of Medicare is hospital insurance coverage. Hospital Insurance helps pay for inpatient hospital care, skilled nursing facility care following a period of hospitalization, home health care after a hospital stay, and hospice treatment at the end of life. Most people have to pay a monthly premium for Part A because they or their spouse paid social security taxes while working, and that gives them coverage. The amount you must pay depends on how long you worked and your current annual income. You may also have to deduct a monthly premium from your social security payment if your income is higher than $85,000 if single; $170,000 married filing jointly; $125,000 married filing separately.
Suppose you are not covered by social security or other government programs that make Medicare contributions for you but are legally present in the United States. In that case, you can choose to purchase Part A coverage without having to pay a premium. If your income is higher than $85,000 if single; $170,000 married filing jointly; $125,000 married filing separately, then your monthly premiums will increase.
Part B of Medicare provides medical insurance coverage, which helps pay for medically necessary services and supplies. You can enroll for Medicare part B on sites like www.ClearMatchMedicare.com, Selectquotes.com, or EhealthMedicare.com. These include doctor’s office visits, lab tests, outpatient care, x-rays, and diagnostic procedures, hospitalizations related to accidents or illnesses, preventive services such as flu shots and screenings, potential living organ donations, vision exams, eyewear hearing aids, and batteries.
Part B coverage is optional, and you must pay a monthly premium unless:
You or your spouse paid Medicare taxes for at least ten years. You do not have to pay the Part B monthly premium but will enter into an agreement to be billed later if you use any of these services during that year. A deduction from Social Security income may apply.
If you qualify for any part of Part A (hospital insurance) and/or Part B (medical insurance), then you most likely will also receive coverage for Part C; prescription drug coverage and Part D; prescription drug coverage. They are free as long as you remain eligible for both Parts A and B.
This part is also known as Medicare Advantage. This is a program run by private insurance companies that provide all your Part A and Part B benefits (hospital and medical insurance). If you qualify for this coverage, it begins the day you sign up for it. You cannot add or remove yourself from this plan except during open enrollment periods if there is a qualifying event such as marriage, divorce, disabilities, moving into or out of an area where certain providers are available, and other exceptions that apply to some people. The benefits one receives will vary depending on the insurance company you are signed up with. However, the general benefits for enrolling for part C include prescription drugs covered at different levels.
This is a Medicare prescription drug coverage through private plans approved by Medicare. Most beneficiaries enrolled in Parts A and/or B will automatically be enrolled in the standard Part D prescription coverage unless they choose otherwise. There are different plans with different levels of payment. The coverage is based on what you think your plan will cost versus what the government decided it should cost. If the costs are lower than expected, then the government pays more; if they are higher than anticipated, you pay more through deductibles and coinsurance payments. You can compare different plans or “tiers” online to help choose which ones would best suit your needs.
You may need to have a current prescription drug plan before being admitted to a hospital for care so that medications may be continued during the stay. Also, medical professionals who receive authorization from Medicare can prescribe generic versions of brand-name drugs. Still, not everyone qualifies to take generics unless their insurance allows them to do so.
What Happens To People Who Cannot Qualify For Medicare Part A, B, C, or D?
Suppose you do not qualify for any of the above programs, but your income is below $20,420 (under 100% Federal Poverty Level). In that case, you may be able to receive financial assistance through state-funded and federal government insurance programs such as Medicaid and others. However, if your income is above a certain threshold, you will not qualify for assistance.
Most people who are 65 years old, blind, or disabled and have been legal permanent residents of the United States for five straight years can enroll in Part A and Part B of Medicare. If you live abroad, then both U.S. citizens and some non-citizens may not be able to enroll in either Part A or Part B of Medicare even if they meet the other requirements for eligibility, such as age.
Benefits of Medicare Health Insurance Coverage
The following are just some of the benefits you may receive if you qualify for Medicare Health Insurance Coverage:
The monthly premiums are relatively low compared to other health insurance plans. Medicare is a federal program that translates to more affordable healthcare costs for many people.
Promotes Healthy Aging:
Medicare can be a great help as you approach retirement and beyond, as it covers the five most common killers that affect Americans. They include Heart disease, cancer, stroke, emphysema, and diabetes.
Peace of Mind:
Medicare Health insurance coverage can give you peace of mind in knowing that when you have a doctor’s appointment, you can go because it will be covered. Also, during emergencies and unexpected illnesses and accidents, you can rest assured that your medical bills will be paid.
Medicare has excellent coverage at a reasonable price for those who don’t have other options.
Range of Benefits:
There are four different types of Medicare coverage: Part A, B, C and D. Each type has its own set of benefits, so you have some options to choose from depending on your needs.
If you do not have health insurance and qualify for Medicare, then Part A and Part B of Medicare Health Insurance may be a good option, as it provides some coverage at a relatively good price. Medicare healthcare benefits can include: Hospitalization, Skilled Nursing Facility Care, Physicians Services, Prescription Drug Plan (Part D), Elderly/Disabled Assessment Period (EAP), Home Health Provider (HHP), Hospice Care, Durable Medical Equipment (DME) and some others.