Medicare Insurance

What is Medicare Insurance?

Medicare is a government run program for senior citizens. To qualify for Medicare Part A, Medicare Part B, or Original Medicare, you must meet a few requirements. One requirement is your age. That’s right, in order to qualify for Medicare

Medicare Part A insurance

Medicare Part A is a type of insurance offered by the Government run program, Medicare. Medicare Part A is basic hospitalization insurance. Medicare Part A insurance will help cover:

  • Inpatient care in hospitals (such as critical access hospitals, inpatient rehabilitation facilities, and long-term care hospitals)
  • Inpatient care in a skilled nursing facility (not custodial or long term care)
  • Hospice care services
  • Home health care services
  • Inpatient care in a Religious Non medical Health Care Institution

What are the Eligibility Requirements for Medicare Part A insurance?

In order to qualify for Medicare Part A insurance, you must meet a few basic requirements. Some of these requirements include:

Your age. If you are 65 years or older, you qualify to enroll in Medicare Part A insurance.
Disability. If you are suffering from a disability and you are under the age of 65, you may still qualify for Medicare Part A insurance.
ESTD, or End Stage Renal Disease. If you were diagnosed with ESRD and you are under the age of 65, you may still qualify for Medicare Part A insurance.

How much does Medicare Part A cost?

Medicare Part A hospitalization insurance is usually free of charge. This is known as “Premium Free Part A” You are usually eligible for “Premium Free Part A” if you or your spouse paid Medicare taxes while working. However, if you find that you are not eligible for “Premium Free Part A”, you still are able to buy into Medicare Part A if you meet one of the following conditions:

  • You’re 65 or older, you’re entitled to (or enrolling in) Part B, and you meet the citizenship or residency requirements.
  • You’re under 65, disabled, and your premium-free Part A coverage ended because you returned to work.

If you are looking to enroll with Medicare Part A hospitalization insurance, you should call 1-800-MEDICARE.

Medicare Part B insurance

Medicare Part B is a type of insurance offered by the Government run program, Medicare. Medicare Part B is basic medical insurance. Medicare Part B insurance will help cover:

  • Doctor services
  • Outpatient Care
  • Home Health Services
  • Medical Equipment and Supplies
  • Some Preventive Services

What are the Eligibility Requirements for Medicare Part B insurance?

In order to qualify for Medicare Part B insurance, you must meet a few basic requirements. Some of these requirements include:

  • Your age. If you are 65 years or older, you qualify to enroll in Medicare Part B insurance.
  • Disability. If you are suffering from a disability and you are under the age of 65, you may still qualify for Medicare Part B insurance.
  • ESRD, or End Stage Renal Disease. If you were diagnosed with ESRD and you are under the age of 65, you may still qualify for Medicare Part B insurance.

How much does Medicare Part B Cost?

In order to receive Medicare Part B benefits, you are required to pay a monthly premium. Starting in 2013, the standard Medicare Part B’s premium is $104.90. However, if your modified adjusted gross income as reported on your recent IRS tax return is above a certain amount, you may be required to pay more than the standard amount. However, if this applies to you, Social Security will notify you. If you disagree with having to pay a higher amount then the standard monthly premium amount, you can call Social Security at 1-80-772-1213.

What is Original Medicare Insurance?

Original Medicare insurance is a type of insurance offered by the Government run program, Medicare. Original Medicare is a combination of Medicare Part A hospitalization insurance and Medicare Part B medical insurance. Original Medicare will help cover:

  • Inpatient care in hospitals (such as critical access hospitals, inpatient rehabilitation facilities, and long-term care hospitals)
  • Inpatient care in a skilled nursing facility (not custodial or long term care)
  • Hospice care services
  • Home health care services
  • Inpatient care in a Religious Non medical Health Care Institution
  • Doctor services
  • Outpatient Care
  • Home Health Services
  • Medical Equipment and Supplies
  • Some Preventive Services

What are the Eligibility Requirements for Original Medicare insurance?

In order to qualify for Original Medicare insurance, you must meet a few basic requirements. Some of these requirements include:

  • Your age. If you are 65 years or older, you qualify to enroll in Original Medicare insurance.
  • Disability. If you are suffering from a disability and you are under the age of 65, you may still qualify for Original Medicare insurance.
  • ESRD, or End Stage Renal Disease. If you were diagnosed with ESRD and you are under the age of 65, you may still qualify for Original Medicare insurance.

Keep in mind that most people are automatically enrolled in Original Medicare upon reaching the age of 65. If you were not automatically enrolled, you should call 1-800-MEDICARE.

How Much Does Original Medicare Cost?

As mentioned previously, Original Medicare is a combination of Medicare Part A hospitalization insurance and Medicare Part B medical insurance. In order to receive Original Medicare benefits, you will be required to pay monthly. Medicare Part A however, usually does not require a monthly payment. This is called “Premium Free Part A”. If you or your spouse did not pay Medicare taxes, you may not be eligible to receive “Premium Free Part A”. Medicare Part B on the other hand, requires you to pay a monthly premium of $104.90, but if you make over a certain amount, you may be required to pay a higher monthly premium. For more information on the cost of Original Medicare, you should call 1-800-MEDICARE.

Is Original Medicare Insurance Enough?

This is a question that you are going to have to ask yourself. With Original Medicare, you are not 100 percent covered. You see, you are only up to 80% covered (in some cases). So, with that being said, you will be required to pay out of pocket costs. Depending on the bill, you may be required to pay a significant amount (for example: surgeries will obviously require a higher out of pocket cost). Some senior citizens are not able to afford these high out of pocket costs. This is why many senior citizens are considering enrolling with a Medicare Supplemental insurance plan. Medicare Supplemental insurance, or Medigap insurance, is a type of insurance offered by private insurance companies. These Medicare Supplement plans, or Medigap plans, allow you to be up to 100 percent covered. They have 10 different plans for you to choose from, each offering different amounts of coverage and thus, different premium amounts. If you are looking for additional coverage, you should call 1-800-MEDIGAP.

MEDICARE SUPPLEMENT