Medicare : Medicare And Medicare

931 WordsJun 2, 20164 Pages
If you are 65 or older, you may have many questions about Medicare and Medicare supplements. With so many choices on the market, it can become quite confusing as to what coverages you have available through your basic Medicare and what supplemental plans offer. What is Medicare? Medicare is the United States government’s health insurance program for adults 65 and older. It is designed to assist in covering the cost of your health care, but it has its limitations. For instance, long-term care and some expenses are not covered. This means that you need a supplemental policy to cover those additional costs like Medicare Advantage plans. Supplemental plans rarely change in coverage or in price from year to year, but Medicare Advantage plans can change. How does Medicare Work? Medicare premiums are paid from your social security check. Other costs of the program are funded through payroll taxes. You can sign up for Medicare three months prior to turning 65. The Parts of Medicare Medicare is the term to define the government’s health insurance, but it is made up of a number of parts. Here is a breakdown of the parts and supplemental plans. • Part A – This is the hospital insurance portion of Medicare. It comes at no cost to you once you turn 65. • Part B – As long as you are eligible for Part A you can sign up for Part B. Part B is the medical insurance portion of Medicare, and you will pay a monthly premium for it. Enroll in Part B as soon as you are eligible. If you

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