Medicare Basics: An Introduction To Medicare

By |2020-08-13T06:40:20+00:00August 14th, 2020|Categories: Blog and News, NHIA Blog|Tags: , , , |

If you are an older adult, you have definitely heard of Medicare. Even if you are younger, you know the term, even if you do not know what it means. This week we are breaking down the Medicare basics. Read on to learn about what exactly Medicare basics are and who is eligible.

 What Is Medicare?

Medicare is a nation-wide insurance program for Social Security recipients. The recipients must meet one of two criteria: they are at least 65 years of age or they are permanently disabled.

Medicare Vs Medicaid

Medicaid is a welfare program, while Medicare is not. Medicaid is a program that provides medical coverage to low-income families and individuals.

Part Of Medicare

There are four parts of Medicare. While part A and B are the most substantial, all four cover different components of health. For more detailed explanation of the parts of Medicare, check our article here.

Part A

Part A is hospital coverage. Medicare automatically awards part A to everyone who earns coverage. This covers hospital stays, hospice care, and nursing homes.

Part B

Part B covers doctor services and outpatient care. In addition, part B takes care of lab work, screenings and medical equipment. However, part B does have an associated cost.

Part C

Part C combines Medicare with private health insurance. You might also hear part C as “Medicare Advantage”. It combines parts A and B as well as additional coverage options through private health insurance.

Part D

Insurance experts refer to part D as the prescription drug plan. This plan covers a portion or al of an individual’s prescription drug costs.

Medicare Eligibility

Medicare has more open eligibility than most people initially believe.

Firstly, the most common group of people that Medicare covers are individuals who earn Social Security in addition to an age qualification. That is, they must reach 65 years of age or older.

Then, the next most common are individuals who earn Social Security for at least 24 months.

In addition, there are many smaller groups of qualified individuals. Read more about those groups here.

Where To Enroll

Luckily, it is not too difficult to enroll in Medicare. Local Social Security Administration offices accept enrollment. In addition, Railroad retirees enroll through their Railroad Retirement Board. Finally, enroll online through the Social Security Administration website.

If You Need Assistance

Contact NHIA to learn more about Medicare coverage. Also learn about BlueMedicare supplements A, B, C, D, F, G, K, L, M, N as well as BlueMedicare Advantage plans.

Medicare Advantage vs. Medigap

By |2018-10-03T17:59:28+00:00October 23rd, 2018|Categories: Blog and News|Tags: , , |

Medicare subscribers have two options if they want to go beyond the basic coverage provided by original Medicare. You can either sign up for a Medigap plan or get Medicare Part C, also known as Medicare advantage. Here are the positive features of each option.

Reasons for choosing Medicare Advantage

  • premiums for Medicare advantage plans are typically lower than those of comparable Medigap plans
  • some Medicare advantage plans include prescription drug coverage, which can save you the need to get a Medicare Part D plan
  • you can get a Medicare Advantage plan or switch to a different plan during open enrollment at the end of each calendar year
  • unlike Medigap plans, Medicare Advantage plans can never deny you coverage based on pre-existing conditions

Reasons for choosing Medigap

  • Medigap plans usually have lower out-of-pocket expenses than Medicare Advantage plans
  • if you have a Medigap plan, you can see any doctor who takes Medicare; there are no physician networks to worry about
  • under Medigap, you don’t need referrals to see a specialist
  • Medigap plans pay the doctor directly, usually without any co-pay on your part – which can greatly simplify paperwork involved in your medical expenses

While there are many reasons for preferring one of these options over the other, if you have significant health issues that require frequent medical care, you’ll probably spend less money over the long-term if you have a Medigap plan. The higher premiums are more than compensated by the lower out-of-pocket costs for such patients.

Before you make a decision between Medigap and Medicare Advantage, use the Medicare Plan Finder to see which plans are available in your area. Often the availability of certain plans will trump the more general benefits available to holders of these two different types of plans. The most important criterion is to choose a plan that provides the benefits you need in order to stay healthy.

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.
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