Medicare Explained

Medicare is health insurance provided by the government.  It’s intended for seniors and those with disabilities that may not otherwise have access to healthcare.  Medicare provides ability to seek treatment and hospital admittance, making it one of the most important insurance options available.

Who’s eligible for Medicare?

Medicare eligibility is primarily determined based on age and tax history. The typical age for Medicare enrollment is 65. This is when there won’t be any added fees, which can occur if you delay enrollment or don’t meet the specified deadlines. It’s also possible to be eligible for Medicare based on disability. Medicare has a very specific list of diagnoses that meet this qualification.

In order to be eligible for premium-free Part A, you or your spouse must have paid adequate Medicare taxes. These are typically deducted from your paycheck and matched by your employer.

The parts of Medicare

Medicare is divided up into different parts, making it simple to understand the coverage each policy provides. Each part of Medicare is incredibly distinct in its offerings and understanding coverage is essential in making the right policy choice.

There are four parts of Medicare, each with a corresponding letter. Original Medicare is composed of Parts A and B. Many people choose Original Medicare because it provides coverage for both inpatient and outpatient care. Hospital costs are included within Original Medicare, as well as durable medical equipment and various treatments.

Part C, or Medicare Advantage, is for those that prefer to have more coverage than what Original Medicare provides. Individuals that choose Part C will have Original Medicare coverage as their baseline and can have other benefits added onto their plan. Dental, vision and hearing coverage can all be included within a Part C policy, making it an excellent option for those wanting to maximize their insurance options.

Medicare details

Medicare puts an emphasis on patient care and believes in the importance of early screening. If you’re enrolled in Medicare, you’ll be able to talk with a wide variety of doctors about any concerns that you have.

Medicare beneficiaries pay a monthly premium in exchange for keeping their coverage. This premium is based on a variety of factors, but will depend most heavily on your amount of coverage. The more coverage you include in your policy, the higher the premium may be.

Deductibles and coinsurance are the other two costs typically associated with Medicare. Deductibles must be met before Medicare coverage will begin, so take into account the deductible of a policy before enrolling.

As Medicare has very specific enrollment periods, it’s important that you’re confident in the coverage you select. It can be complicated to switch between policies, so working with an insurance agent to be sure you’re making the right choice is extremely beneficial. At Caring Insurance Solutions, we’re here to ensure that you have all your questions answered and your enrollment goes smoothly. Medicare doesn’t have to be complicated, so let us be part of your journey. If you’re ready to discuss options with an insurance agent, let us know. We’re here for every step of the enrollment process, proudly serving Oklahoma and Texas.

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