Medicare Options: How to Choose the Right One

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Medicare Options: How to Choose the Right One

Medicare is a federal health insurance program aimed to help American citizens aged 65 or older (or those who have qualifying disabilities or illnesses) with healthcare costs. Different parts of Medicare pays for inpatient and outpatient hospital care, physician services, and prescription drug costs. 

Medicare Advantage has a lot of neat features that are not offered in Medicare Part A or Medicare Part B. For example, some programs/plans offer gym memberships at participating locations, dental and vision options, and Fitbit watches for eligible recipients. 

In this article, we will look at what Medicare is, the main parts of Medicare, so you can see what all Medicare has to offer, and the details associated with the different kinds of Medicare. We’ll take a look at each part of Medicare in detail. This way, you can make an informed decision as to what you need for your healthcare. 

Of course, if you have questions or further concerns about what Medicare options are available, in the conclusion of this article, there will be the contact details of a Medicare healthcare representative/agent. He can assist you further and explain any concepts that seem like a foreign language to you. 

What is Medicare?

Medicare is a federal/national health insurance program. It provides health benefits to American citizens and permanent legal residents who are aged 65 or older. 

It also covers those who have qualifying disabilities or illnesses. This is usually the best healthcare option for those who are 65 years old or older. Medicare has many parts to it that we will further explain in this article.

What are the main types of Medicare?

There are two main types of Medicare. Medicare Part A is hospital insurance, and Medicare Part B is medical insurance. There are other types of Medicare as well, Part D for prescription drugs and Part C which is Medicare Advantage. 

Medicare Advantage is a popular choice among those who use Medicare, as it offers many choices in healthcare. These options will be further explained in this article.

What is the history of Medicare?

Medicare was created for Americans in 1965. The program was originally created for any American, regardless of their income, health status, or medical history. In 1972, the program was expanded to cover specific individuals who are younger than 65 who have a long-term disability. 

How is Medicare received today?

Today, Medicare provides healthcare to more than 60 million Americans, both those who are 65 years and older and those who are younger but who have certain disabilities. Medicare helps pay for many healthcare services, including physician visits, hospitalizations, skilled nursing facility visits, home healthcare visits, hospice care, and other medical services.

Who receives Medicare today?

The majority of people aged 65 or older are entitled to Medicare Part A if they or their spouse receive or are eligible for Social Security payments. These individuals do not have to pay a premium for Medicare Part A, provided they paid payroll taxes for 10 or more years when they were members of the working class. 

There are those under the age of 65 who do receive Medicare, though. If they received Social Security Disability Insurance (SSDI) payments, generally, they are eligible to receive certain Medicare benefits. There is often a two-year waiting period before this benefit can begin. 

However, for those with end-stage renal disease (ESRD) and amyotrophic lateral sclerosis (ALS) they can become eligible for Medicare with no waiting period regardless of their age.

Some people opt for Medicare supplements, while others have the Medicare Advantage program. It often depends on the medical illnesses and other health concerns of the individual. 

Many people on Medicare have different health problems, including those who have chronic health conditions and limitations in their activities of daily living. Many beneficiaries live on modest incomes and do well with being on Medicare as their primary health coverage.

What is Medicare Part A?

Medicare Part A includes inpatient hospital stays, skilled nursing facility stays, most home healthcare visits, hospice care, and other medical services. Those who have Medicare Part A are required to pay a deductible and pay coinsurance for extended inpatient hospital and skilled nursing facility (SNF) stays. 

Most people opt for Medicare Part A because it is affordable and great backup insurance to have along with your group policy (if you have one). However, for many people, having Medicare just makes more sense. 

What is Medicare Part B?

Medicare Part B included physician visits, preventative services, outpatient services, and some home health visits. Many of the benefits included in Medicare Part B are subject to a deductible and coinsurance of 20% by the insured individual. However, no deductible or coinsurance is charged for annual wellness visits or for preventative services that have been rated as an “A” or a “B” by the United States Preventive Services Task Force. 

For example, the United States Preventive Services Task Force has rated mammography and prostate cancer screenings as being in this category. This keeps Americans aware of what is going on concerning their health and helps them to take preventative measures or corrective action with any health concerns they may have uncovered.

What is Medicare Part C?

Medicare Part C refers to the Medicare Advantage plan, which is available through a separate health program offered to Medicare recipients. The Medicare Advantage program allows beneficiaries to enroll in a private health plan, such as a preferred provider organization (PPO) or health maintenance organization (HMO). 

Medicare Advantage is an insurance company, managing Medicare for Medicare. With this plan, covered individuals only need to carry one insurance card to cover all their healthcare needs.

This means that those who are enrolling can receive all benefits that are offered in Medicare Part A and Medicare Part B. It also usually covers the benefits offered in Medicare Part D, which will be explained in the next part.

A large majority of those who are enrolled in Medicare are enrolled in Medicare Advantage plans rather than traditional Medicare. These plans are great because they cover many services not covered by traditional/original Medicare, such as eyeglasses, hearing aids, and dental services.

What is Medicare Part D?

Medicare Part D includes outpatient prescription drugs through private plans, plans that contract with Medicare. This includes stand-alone prescription drug plans (PDPs) and Medicare Advantage drug plans that already have prescription drugs coverage. 

Conclusion

Are you aware of the different options you have available when it comes to Medicare Services and programs/plans? Which Medicare do you have or wish to have? It’s a smart idea, even if you are not disabled or are of the age of 65 or older, to learn about Medicare. This way, you will know what healthcare options are available when it comes time for you to enroll in one. 

Remember that Part A is for inpatient hospital stays, skilled nursing facility stays, home healthcare visits, hospice care, and other medical services. This is often referred to as hospital care; most people have this option available to them if they are of the right age or have a long-term disability that qualifies them to be eligible for Medicare. 

The second part is called Part B, and it covers visits to the doctor, preventative services, outpatient services, and home health visits. Part B covers many of the day to day expenses. For example, heading to the doctor’s office or getting screenings would be the type of healthcare covered under Part B. 

About one-third of Americans on Medicare have Part C, which is the Medicare Advantage program. It offers the benefits found in Part A and Part B. However, there are also bonuses offered in Part C that are not offered in the other parts of the Medicare options. This is why so many Americans are choosing Part C; they want the extra benefits offered by it.

For example, you can receive help with doctor’s visits, prescription drugs, eyeglasses, select gym memberships, and additional healthcare screenings as approved by the Centers for Medicare/Medicaid Services (CMS).

Do you need additional assistance in choosing the perfect Medicare plan for you? Michael Cauldwell is a licensed sales agent for Medicare and speaks the language and understands that this can all be confusing and overwhelming. He’s able to ease you into the plan you need without having to worry about complications about which option to choose from.

Mike makes sure that the plan you choose fits your needs; he’s a passionate agent who cares about each and every one of his clients. He will work on helping you find the right plan to fit your circumstances, so please get in touch today so that he can help you compare options and find the perfect plan for you!

You can email Michael Cauldwell at mikecauldwell@yahoo.com or reach out to him via his cell phone at 317-340-9027. He looks forward to hearing from you whenever you are ready to talk about your Medicare options. It’s what he does, and he’s very passionate about the topic!

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