Those who have reached 65 years of age and are US citizens or permanent legal residents can apply for Medicare and Medicare Supplement plans. Besides this, the person or his/her spouse is to have worked for at least 40 quarters (10 years). Some people having certain disabilities can qualify for getting Medicare and supplement coverage although they are below 65 years of age, but needs to meet specific guidelines.
This is a government sponsored insurance program for senior citizens but offered by private insurance companies all over the country. It will be useful to know about both the parts in details along with the Medicare Supplement plans, so as to understand the rights and benefits to enjoy.
This part provides coverage for inpatient hospital care, home healthcare, hospice care stays and skilled nursing facility. This is because, people when working have paid for the system. A deductible is to be paid for about $1316 along with coinsurance after sixty days.
It provides coverage for doctor & healthcare provider visits, home health care, preventative services instead of hospital care and durable medical equipment. Premium is around $134 & deductible is $183. This part has been designed for 80% of all medical expenses to be covered by the government.
It is known as Medicare Advantage and combines both Parts A & B as well as also offers additional benefits which could be Part D (prescription drug coverage), vision or dental coverage. Although Medicare premiums are to be paid, Part C premium can be zero or come with additional premium amount based upon benefits offered.
Prescription Drug Plan is covered by private insurance providers, with costs ranging from $15 – $100 monthly. Each have approved drug list.
Available Medicare options & Medicare Supplement plans
Since all healthcare costs are not borne by Medicare, Medigap or Medicare Supplement plans as they are known as cover few or probably all costs that are not included within Parts A and B. but medications are not cover and do require additional premiums to be paid to Part A and B.
People can select combination to obtain comprehensive coverage possible. For instance:
- Part C (Advantage Plan) contains Parts A & B, with maximum Part C plan including Part D for prescription drug coverage.
- Medicare Supplement plans containing Parts A, B & D.
Discussing with the professional agent can help find the best available options to choose to stay full covered.