As we all know, medical insurance can be a bit pricey and trying to find out what options are out there can be an overwhelming and time-consuming process. Whether you are new to the Medicare world or if you are just curious about what is new, this article might be able to help you answer a few questions. In the text below, you will be able to read about what Medicare is, as well as what it includes. Let’s take a closer look:
To put it simply, Medicare is a health insurance program covered by the government that provides medical coverage for individuals that are over 65. You might also be able to get in the program:
- If you are disabled and have been getting social security benefits for at least 2 years.
- If you receiving a disability pension from the Railroad Retirement Board.
- If you have kidney failure.
- If you have ALS , a neurodegenerative condition also known as LouGehrig’s Disease. More details about this fatal condition can be found here.
This insurance program can either be used as primary or backup coverage and you can use it to pay for medical and long-term care. However, you should keep in mind that it might not cover all the expenses that you have. As previously mentioned, you will be automatically enrolled into the program if you have been receiving social security benefits for 2 years. And if you are not receiving it, you will need to contact the social security office at least three months before your 65th birthday.
The Medicare Categories
This program is designed to cover basic medical needs including hospital stays and visits to the doctor. It has four categories: Part A, B, C, and D. Let’s take a closer look at all the categories:
– Part A – this part will cover hospital care as well as other, hospital-related services. Most things related to your treatment will be covered in part A and it also covers the hospice care for people who are terminally sick.
– Part B – This part covers the general medical care which means that it includes medical supplies, a portion of preventative services, different tests and screenings, as well as mental heal services.
– Part C – this part will cover all the services from part A and B, however, there are some extra benefits like extra services or prescription medicine coverage. This part usually costs a bit extra.
– Part D – this part will cover the costs of prescription medicine. The cost will depend on your income and your payments will depend on what type of medicine do you need.
How to Choose the Insurance to Sign Up For
As previously mentioned, there are four categories in Medicare, however, there are also other solutions that you can try. For example, if you find yourself in a transition period where you are perhaps moving to a different state or you might have had some expenses that you did not expect, you could opt for getting a short-term insurance plan that will ensure that you are covered even though you did not purchase a full insurance plan. But, it can be a bit overwhelming to choose a plan that will fit your needs and budget, hence, you can opt for comparing different health insurance plans. What is good is that we live in the Internet era, hence, everything is made a bit easier for us – even comparing health plans. So, if you want to see how you can compare different health insurance plans for 2020, check out https://www.healthinsurance2020.org/.
HealthMarkets is a resourceful website that is worth checking out if you’re looking to make an informed decision about insurance products. They distribute health, Medicare, life and supplemental insurance products from more than 200 insurance companies with thousands of plans available nationwide.
As you can see, there are various things to consider when it comes to choosing medical insurance, hence, now that you know what you might need, do not waste any more time and start comparing different plans right away.