Are you 65 years of age or older? As I’m sure you’ve learned from all the flyers showing up in your mailbox,the answer can allow you to benefit from Medicare and Medicare Advantage plans. Health insurance is invaluable as we all know how much health care costs; its importance grows as you reach the golden years. Not only do our bodies require more maintenance at this time, but most of the people have retired at this time or are working part time, often meaning they’ve lost the company-sponsored insurance they used to rely upon. In this article, we will look at Original Medicare (Parts A and B) as well as Medicare Advantage– what they are and what they cover – allowing you to make a more informed decision about which better suits your needs.
Medicare Parts A and B, or Medicare Original
Medicare is a government-run health insurance option for people who are 65 years of age or older. This means the Medicare Insurance St George Utah residents receive is the same for everyone nationally. It is also applicable to young people who have disabilities, and to people with end-stage renal disease or permanent kidney failure, who require dialysis or a transplant.
Parts of OriginalMedicare
There are two main parts of Original Medicare: Part A and Part B.They are listed below with basic details about what they cover.
- Medicare Part A or hospital insurance covers any stay at a hospital plus care received at a nursing home or facility as well as hospice care. It also includes some other health care services.
People usually don’t have to pay any premiums for Part A, if they or their spouse have paid Medicare taxes for a certain amount of time – this is sometimes called premium-free part A. However, in the case you don’t qualify for it for free, you can pay a premium for part A. For more details regarding costs you can get free advice from companies like thebenefitlink.com
- Medicare Part B or medical insurance is the second part of the original Medicare. Plan B covers individual physician visits, preventive care and services, outpatient visits, and medical supplies. It is not required, but most Medicare recipients pair parts A and B.
Everybody pays a premium for part B. The premium is based on your previous two years of annual income.You can get more information regarding premium amounts from various sites.
Medicare Part D and Part C (or Medicare Advantage)
Medicare Part D or prescription drug coverage provides coverage for the cost of prescription drugs; this includes recommended shots as well as vaccines. Many seniors choose to add a Part D policy on top of their Original Medicare Coverage, as most prescriptions are not covered by Parts A or B. Medicare Advantage or Part C is sort of like a bundle offer made up of some of the benefits of Medicare, plus a few other options. These plans are provided by private health insurance companies approved by Medicare.
While they are not as popular as Original Medicare, some seniors find that these plans have just the right combination of benefits for their lifestyle (and budget). Depending on the plan, you might even get assistance with costs associated with vision, hearing, dental, plus various health and wellness programs that are not covered in Original Medicare. Also, it’s important to note that Original Medicare and Medicare Advantage are mutually exclusive, meaning you cannot be signed up for both.
Both Original Medicare and Medicare Advantage are powerful, useful health insurance options that are supported by the government and offer a low cost as compared to completely private health insurance. Before making any decision, it is good to seek out trustworthy companies that provide a free consultation or according to your needs and budget.