Why Is Medicare Important

Who is eligible for Medicare?

Did you know that all Americans who have attained the age of 65 and above are entitled to a health insurance that is offered by the Federal government? Young people who have disabilities or kidney failure complications can also be eligible to benefit from this insurance. This type of federal health cover assists in reducing the cost of health care, but cannot entirely cover all the costs in case long-term care is required. People are given an option to choose how to obtain Medicare coverage. If you decide to the original Medicare policy, then you can purchase a Medicare supplement plan (often referred as Medigap) from a private insurer to cater for other costs that the original Medicare is unable to pay. What is

Part B

This caters for outpatient care, preventive services and doctor’s services

Part C

This is a type of care that is offered by a private insurer in collaboration with Medicare to offer services given under part A and B

Part D

This covers the cost of the prescribed drugs that are not covered under the original cover.

The key benefits of Medigap includes the following:

Medicare Part A- It can cater for hospital and coinsurance costs when the original Medicare has been exhausted(members can access this benefits for a period of one year after the exhaustion)

Medicare part B-it covers for copayments

It can also cater for the first three pints of blood

It can also pay for hospice care offered.

Deductibles can also be paid using medigap.

Medigap Plan F

This is a high-deductible cover where you may be forced to pay the balance out of your pocket But the plan has lower premiums compared to others. Medigap Plan G

This offers almost the same advantages as plan F, only that users will be required to pay an annual deductible of $166. They are used to cater part B excess charges of the initial Medicare.

Medigap Plan