Medicare was never designed to pay ALL of your medical bills after you turn 65. On this site you can take advantage of special Medicare supplement plans – Medigap Plans – that give you solid protection against high medical bills. While protecting your freedom to choose your MD.
Your biggest decision will be to pick the right Medigap plan for 2017.
- Medicare Plan A is the most basic plan and will pay for most of your coinsurance and copayments, minus any related to skilled nursing facility care.
- Medicare Plan F is considered the most comprehensive of all 2017medigap plans and will pay for all co-pays, deductibles, coinsurance, foreign travel and any excess charges that original Medicare will not cover. Medicaid Planning Strategies
- Medicare Plans K and L are the only plans with an out-of-pocket limit, which functions much like a deductible. All the other plans will begin paying benefits immediately.
Our goal is to make the process of identifying and selecting a 2017 MediGap Insurance Plan simple and hassle-free. You will be working with licensed insurance agents representing top, reputable insurance carriers. Our service is easy to use, free and with no obligations to purchase – ever. Getting Carinsurance
The medicare open enrollment period for 2017
is October 15 to December 7, 2016.
Turning 65 means you are eligible for Original Medicare – Part A and Part B. Medicare is a federal program that provides hospital insurance and some medical insurance to older Americans and those under the age of 65 with certain qualifying disabilities.
At the time of enrollment – you may also choose to enroll in Medicare Part C, also called Medicare Advantage. Advantage plans are available from private insurance companies and have to offer the same benefits as Part A and Part B – but may add more coverage such as vision, dental, or prescription drug benefits. You could also add a stand-alone Medicare prescription drug plan to your Original Medicare to receive prescription medication coverage. Medicare Supplement insurance (called Medigap) is also available to add to your Medicare coverage and help cover the “gaps” in Original Medicare.
Disclosure: “We are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website.
Medigap is additional health insurance that you buy from a private insurance company to pay health care costs not covered by basic Medicare, such as co-payments, deductibles, and health care if you travel outside the US. Medigap insurance policies do not cover long term care – such as stays in a nursing facility, dental care, vision care, hearing aids, eyeglasses, or private-duty nursing. Most medigap plans do not cover prescription drugs.
You will have to pay a monthly premium for a Medigap insurance policy. If you use health services not covered by Medicare, your Medigap policy might save you money in the long run. You have to decide whether paying for a Medigap policy makes sense for you.
Private insurance companies provide Medicare Supplemental Plans that pays for medical expenses Medicare WILL NOT PAY FOR. You need to choose the plan you like the best. Should sign up? It depends on how good your current coverage is.
People under the age of 65 may have difficulty purchasing a medical supplemental insurance plan. The Law states that it is a right duly given to elders age 65 and above only after they have enrolled in Medicare Part A and Medicare Part B.
How Medicare works with other insurance companies
When you have Medicare coverage and other health coverage as well, each type of coverage is called a “payer.” In the case there is more than one payer, “coordination of benefits” rules decide which one pays first. The “primary payer” pays what that coverage owes on your medical bills first, and then sends the rest to the “secondary payer” to pay – which could be a private medicare supplemental Medicare company. In a few cases, there might even be a third payer.
Web addresses for the Medicare plan:
Medicare supplement insurance covers the gap between what Medicare pays on medical bills and what you have to pay for premium deductibles, coinsurance and co-payments.
Private Medicare supplement insurance policies pay only for services that the U.S. Medicare system indicates medically necessary – and cash payments are generally based on the Medicare approved expense. Some insurance plans offer financial benefits that Medicare do not offer. Such as emergency care abroad.
NOTE TO: All Medicare Advantage Organizations, Prescription Drug Plan Sponsors, and Other Interested Parties
Aside from this, they should also pay the monthly premium rate for Medicare Part B on top of what you will need to pay for your Medigap Insurance Policy. Realizing all of these different types of payment, it makes you wonder why many are still interested in purchasing a Medicare Supplemental Insurance Plan. Are the Medicare benefits still not enough to cover the medical expenses of the elders?
If you have Medicare and other healthinsurance, each type of coverage is called a “payer.” If or when there is more than one payer, ‘coordination of benefits’ rules decide which one pays first. The “primary payer” pays what it owes on your medical services bill first, and then sends the rest to the “secondary payer” to pay. In some cases, there may also be a third payer.
What it means to pay primary/secondary
Paying “first” means paying the whole bill up to the limits of the coverage. It doesn’t always mean the primary payer pays first in time. If the insurance company doesn’t pay the claim promptly (usually within 120 days), your doctor or other provider may bill Medicare. Medicare may make a conditional payment to pay the bill, and then later recover any payments the primary payer should’ve made.
Medicare Supplemental Insurance Plans, also called as Medigap or PRIVATE MEDICARE, are individual insurance policies purchased by elders who believe they need more assistance with their medical needs. The Medicare assistance offered by the government is sufficient for majority of the elders in the US, but there are still quite a few individuals who will need more financial assistance on this matter. The only option left for them to grab hold onto is these Medigap Insurance Policies.
Medigap Insurance Policies are classified into 12 distinct categories. This is regulated by law and cannot be altered in any way by the insurance company. The most they can do is to convince you to purchase the plan coverage that will place the company at lesser risk of paying more rather than earning more from you. You should be cautious of these techniques because you may end up tricked by some insurance agents because of their flowery words and convincing speeches.
Choose a Medigap Insurance Policy if and only if you have calculated your potential insurance cost to be more than what the Medicare will be providing you. Otherwise, you will not need any of these supplemental insurance plans because the government will have your medical expenses all covered-up.
Medicare is a social insurance program administered by the US government, providing national health insurance coverage to people 65 and over, or individuals who meet other special criteria.
US Medicare Gov operates similar to a single payer healthcare system. The most important difference is that its coverage only extends to 80% of any given medical cost. The remaining 20% of cost must be paid either via a private company supplemental health insurance, or via the patient’s own personal funds. Private health insurance usually require a monthly premium to be paid.
Medicaid and Medicare sound similar. They are really two very different government programs. The biggest differences is Medicaid is a state governed program while Medicare is a federal program. Some other differences are:
Application for Medicaid is accepted at the individual State’s Medicaid agency.
Medicare is for individuals:
Some individuals qualify for both Medicaid and Medicare. Medicaid can sometimes be used to help pay for Medicare premiums. People who qualify for both programs are called ‘dual eligible’.
As a rule, all persons 65 years or older qualify for Medicare coverage. If they have been a resident of the US for at least 5 years. All people with disabilities in the US are also entitled to Medicare.
Basically, Medicare has four parts. Part A covers hospital stays and expenses. Part B is general medical insurance coverage. Part D is coverage of prescription drugs. Part C, also called Medicare Advantage Plan – is just another way to receive parts A, B and D.
Medicare Part D offers prescription drug plans (PDP) through private insurance companies. There is 10 national plans offered, including AARP Part D Coverage, and some regional plans. The estimated cost for the premium will vary with the plan but the current estimate for the average PDP is approximately $37 per month. The premium cost is expected to increase annually.
Disclosure: “We are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. Disclamer: This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE or consult www.medicare.gov (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.”
gettingmedicarewhenyouturn65.com is a privately owned website and is not associated, endorsed or authorized by the Center for Medicare and Medicaid Services or any other government entity. This site contains basic information about Medicare, services related to Medicare, private medicare, Medigap and services for people with Medicare. If you would like to find more information about the Government Medicare program please visit the Official US Government Site: at www.medicare.gov
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