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What is Medicare? Who is eligible? What does it cover?
What are my options to help me with the expenses that Medicare does not cover?
Medicare is a National Health Insurance Program created and administered by the federal government in the United States to address the medical needs of older American citizens. Medicare is available to U.S. citizens 65 years of age and older and some people with disabilities under age 65.
Medicare is an entitlement program similar to Social Security and is not based on financial need. Medicare benefits are available to all American citizens over the age of 65 because they or their spouses have paid Social Security taxes through their working years. Since Medicare is a federal program, the rules for eligibility remain constant throughout the nation and coverage remains constant regardless of where an individual receives treatment in the United States.
Medicare benefits are divided into two different categories referred to as Part A and Part B. Medicare Part A is hospital insurance that provides basic coverage for hospital stays and post-hospital nursing facilities, home health care, and hospice care for terminally ill patients. Most people automatically receive Part A when they turn 65 and do not have to pay a premium because they or their spouse paid Medicare taxes while they were working.
Medicare Part B is medical insurance. It covers most fees associated with basic doctor visits and laboratory testing. It also pays for some outpatient medical services such as medical equipment, supplies, and home health care and physical therapy. However, these services and supplies are only covered by Part B when medically necessary and prescribed by a doctor. Enrollment in Part B is optional and the Medicare recipient pays a premium of approximately $110.50 per month for these added benefits. The amount of the premium is periodically adjusted. Not every person who receives Medicare Part A enrolls in Part B.
Although Medicare provides fairly broad coverage of medical treatment, neither Part A nor B pays for the cost of prescription drugs or other medications
Medicare is funded solely by the federal government. States do not make matching contributions to the Medicare fund. Social Security contributions, monthly premiums paid by program participants, and general government revenues generate the money used to support the Medicare program. Insurance coverage provided by Medicare is similar to that provided by private health insurance carriers. Medicare usually pays 50–80% of the medical bill, while the recipient pays the remaining balance for services provided.
You have many different options available to you to help off set the expenses that Medicare does not cover. Because of this reason, we ask that you call and speak to one of our Medicare Specialist. They will be able to find the most affordable and appropriate plan for you. Most all of our plans are zero (-0-) plan premiums which mean no additional cost to you.
We invite you to protect your tomorrow by contacting us today at 407-339-5222 or toll free at 800-865-0001.