Medicare, all you need to know
- Medicare is health insurance for people 65 or older or for people under 65 with end-stage renal disease (ESRD: permanent kidney failure requiring dialysis or a kidney transplant), and individuals who have been disabled for more than 2 years.
- When someone pays into social security for 40 quarters or 10 years they automatically become eligible for medicare after age 65.
There are MANY PIECES OF MEDICARE that work together to help cover you for doctor and hospital services. The following list explains these different parts, along with their functions.
MEDICARE PART A (HOSPITAL INSURANCE, also known as original medicare)
- Partly covers hospital care which includes skilled nursing, hospice and home health care. if you are hospitalized medicare will pay for 80% of the hospital bill and 20% is paid by the individual.
MEDICARE PART B (MEDICAL INSURANCE),
- covers medical and health care, outpatient care, durable medical equipment and home health care, such as doctor visits, x rays, and some preventive services for your health and prevent certain illnesses from getting worse.
MEDICARE PART C (ALSO KNOWN AS MEDICARE ADVANTAGE),
- Is a combination of medicare part a, b, and d ( prescription drugs ).
- Provides options for health plans run by Medicare-approved private insurance companies. Medicare Advantage Plans are a way to get the benefits and services covered by Part A, Part B and Part D.
- Medicare Advantage Plans include prescription drug coverage (Part D) drugs. Some Medicare Advantage plans may include additional benefits for an extra cost.
MEDICARE PART D (MEDICARE PRESCRIPTION DRUG COVERAGE)
- Helps cover prescription drug charge that Medicare Part A, and B do not.
- May help reduce your prescription drug costs and help protect against higher costs
- Directed by private insurance companies approved by Medicare
QUESTIONS ABOUT MEDICARE?
CALL ReioInsurance AT 305-534-6000
TO SPEAK WITH ONE OF OUR SALES AGENTS.
There are many benefits of Medicare Supplement plans
The benefits offered by all Medicare Supplement or Medigap, policies have been standardized, allowing them to be easily compared between insurance companies. A total of 11 plans are available, which are identified as Medigap Plans A through N (except in MA, MN and WI). Although insurance companies can choose which plans to offer, each available carrier to Plan A is required.
Have questions about Medicare?
CALL 305-534-6000 FOR MAYOR ReioInsurance
SPEAK WITH ONE OF OUR SALES AGENTS LICENSED.