Medicare Insurance

Medicare insurance is a government program that provides medical insurance for people that are over the age of 65, or under the age of 65 with certain disabilities. People of any age that have end-stage renal disease are also eligible. The program covers nearly 40 million people.

You do not need to do anything to enroll in Medicare insurance if you are turning 65. Your Medicare card will automatically be mailed to you about 3 months before your 65th birthday.

There are 2 parts to the Medicare Insurance program. Part A people do not pay for, part B has a monthly fee that a person has to pay for. Most people automatically get premium free Part A coverage if they have worked and paid into Medicare taxes. Meaning they are not required to pay anything to be enrolled in the program. If you are not automatically qualified for the premium free coverage you can apply to pay for it. There are only 2 circumstances that allow you the option of paying, the first being if you worked but didn’t pay enough into Medicare, and the 2nd being if you are disabled, but returned to work. If you are not able to afford to pay a premium you can contact the Social Security Administration to apply for additional help.

Part A insurance typically covers hospital stays, hospice care and occasionally home health care. It does not cover nursing home fees. Part B insurance costs approximately $97 a month. Part B insurance helps cover physical or occupational therapy if medically necessary, and some home health care. Your exact coverage will be in detail when you get your information after signing up. You may pay more for the Part B program if you did not sign up for it when you enrolled in Medicare. The Part B premiums may increase every 12 months.

There is another Medicare insurance program that will help to cover your drug expenses. This plan has a monthly premium. The premium amount will be different for each plan. There are several plans to choose from. Typically the higher the covered costs of prescriptions the more you will pay for a premium. If you are not able to afford to pay for the entire program, there is extra help available that will cover almost the whole cost of your prescription medications.

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