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Medicare is a government-sponsored insurance program that provides affordable health insurance. It helps millions of individuals each year enroll in low-cost insurance policies. If you qualify, signing up for Medicare could help you save a ton of money on your insurance premiums. Here are a few things to keep in mind while you’re figuring out which plan works the best for your family and how to pick the right Medicare plan.
Who Qualifies for Medicare?
The first thing you’ll need to find out will be who qualifies in your home. Not everyone qualifies to be part of a Medicare policy, so you should check. The exact qualifications change from year to year. But, they’re always on the program’s website. Anyone over the age of 65 should be able to take advantage of Medicare. You can also take advantage of it if you are married to someone who is over the age of 65 as well. Paying for your family’s health care usually isn’t possible unless everyone qualifies. There are certain ways you use Medicare without meeting the usual qualifications. People with disabilities might be able to qualify, thanks to these exceptions.
What’s a Medicare Advantage Plan?
Advantage plans combine benefits by bundling parts A and B together. Congress opened the market to private companies, so they’re able to service policies. The best thing about private companies is they can include additional services. For example, many of them give you a voucher that’s usable at the gym to pay for a membership. Paying for your Medicare plan each month will also cover the cost of your local gym. Speak with an Omaha Insurance Medicare Agent to learn more. They can tell you about additional services included with advantage plans. This will help you choose the right Medicare program for you.
What Plans Does Medicare Offer?
Once you’ve found out whether you qualify, you can look at what plans are available. Everyone receives Medicare part benefits as soon as they hit the age of 65. You don’t have to register for them. If you have a Social Security number, then you will receive a card with your benefits after your birthday. Medicare part A only covers hospital services, though. So, you’re not going to use it when you’re visiting the doctor during annual checkups. That’s why the government developed a supplement program, called part B. Part B adds preventative services. That means you’re able to use this coverage to pay for things like physical and regular checkups.
The newest part of the Medicare program is Medicare advantage. Private companies can bundle both parts of the traditional Medicare program. Plus, they can also offer additional services that aren’t normally included with Medicare.
Are You Taking Prescriptions Regularly?
Prescription drug coverage isn’t a part of the regular Medicare program. But, you’re able to purchase a Medicare supplement, subsidized by the government. Purchasing the supplemental lets you extend your coverage, so it applies to prescriptions. Usually, it’s more affordable than a prescription policy that you get on the open market. Subsidized policies don’t compete with private companies, so you get better deals. If you are taking prescriptions, then you should consider getting the supplement policy. It could help minimize the cost burden of your monthly medications, letting you save more.
Determining Your Out-of-Pocket Expenses
Let’s say that you’ve decided to get a Medicare policy. How much is it going to cost you once you’ve signed everything? Good news, Medicare part and doesn’t have a monthly premium, meaning you won’t pay anything. The other programs have varying costs that are determined by Congress every year. Where you live can also impact how much you’re charged if you sign up for additional policies. The Social Security Administration may adjust monthly premiums depending on cost of living. Still, you shouldn’t expect a monthly bill higher than $100 or $200. Remember, you will want to choose a plan that you and your family are easily able to afford. No family should have to choose between paying for their mortgage and paying for their health insurance each month.
Your Guide to the Right Medicare
Medicare has been part of our healthcare infrastructure for more than 50 years. A ton of people have been helped by the program, thanks to its affordability. Signing up for Medicare benefits is really easy if you qualify for them, too. So, you shouldn’t hesitate. When you’re covered by Medicare benefits, healthcare costs don’t frighten you anymore.
