Get the Most Out of Your Medicare Insurance.
Medicare started on July 30th 1965 by president Lyndon B. Johnson. The purpose of the program was to provide aging adults, specifically those 65 and older, a form of health insurance that was otherwise unavailable to them in that era. Medicare has made having access to healthcare a universal right for Americans turning 65, and therefore helped millions of Americans improve their health and longevity. Since that time Medicare has made many changes over the years. Including expanding to cover disabled people, including those with end-stage renal disease (ESRD) requiring dialysis or kidney transplant, and Lou Gehrig’s disease (ALS) in 1972. The Medicare Prescription Drug Improvement and Modernization Act of 2003 introduced part C of Medicare, otherwise known as Medicare Advantage Plans. This also expanded into Part D of Medicare to allow for prescription drug coverage later in 2006. As times goes on the benefits to these plans is ever evolving, making decisions as to what to do when eligible for Medicare more and more complicated. That’s where Bidez Financial Group can provide solutions.
Knowing Your Medicare Options Is Always Important – Call the Bidez Financial Group!
Medicare covers 80% of your cost covered under A & B after the deductibles are met. Those deductibles are subject to increase every year, as well as the premium for part B of Medicare. Most will pay $0 for part A as long as they or a spouse has worked and paid taxes for 10 years. There are four basic divisions for Medicare, generally referred to as Part A, Part B, Part C, and Part D. Of course, there are many variances and subtexts to the entire Medicare program, but these are some basic differences between the four parts of Medicare.
Medicare Part A Covers:
- Inpatient Hospitalization
- Skilled Nursing Care
- Hospice Care
- Most will pay $0 premium
Medicare Part B Covers:
- Clinical & Laboratory Services
- Home Health Care/DME
- Comes w/ a monthly premium (unless paid by the state)
- Physician, Inpatient & Outpatient services
Medicare Part C Covers:
- Coverage as good as A & B
- Can include Part D
- May have Dental, Vision, Hearing, Etc.
- PPO, HMO, POS Networks
Medicare Part D Covers:
- Coverage varies by plan formulary
- Must include 2 drugs per drug category
- 4 stages of coverage
- Deductibles vary by plan
Medicare Supplement Covers:
- Plan N, G, F, etc.
- Covers the 20%
- Covers Medicare deductibles
- Premiums very by age, sex, tobacco use.
When it comes to understanding Medicare, and making sure you’re receiving all the benefits for which you are eligible, it is very important to understand all the moving parts of Medicare and how they can benefit you specifically. At Bidez Financial Group we have partnered with all the major healthcare companies and are licensed and certified to offer their products. Therefore, we can help you find the option that meets your specific needs.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
Author
