What Is Medicare Insurance?
Medicare is a federal health insurance program administered by the Center for Medicare & Medicaid Services (CMS), and pays for a variety of healthcare expenses. Beneficiaries are typically seniors aged 65 and older. Others eligible for Medicare benefits include adults with certain approved medical conditions or qualifying permanent disabilities.
Like Social Security, the majority of U.S. Citizens earn the right to enroll in Medicare by working and paying their taxes for a minimum required period. Even if the time you work doesn’t entitle you to Medicare benefits, you may still be eligible to enroll, but you may have to pay more for coverage.
Four Parts to Medicare Program
The Medicare program is compromised of four different parts:
- Original Medicare (Parts A & B): This is coverage managed by the federal government and provides for Hospital insurance (Part A) – inpatient hospital stays as well as care in skilled nursing care, hospice and some home care up to a certain amount; and certain doctors’ services, outpatient care, medical supplies, and preventive services (Part B).
- Part C, or Medicare Advantage, is private health insurance.
- Medicare Part D offers coverage for prescription drugs.
Enhancing Your Healthcare Coverage
There are limitations and shared costs under Medicare Parts A &B, which is why Medicare Supplement Insurance Plans, Medicare Advantage and Medicare Part D plans are offered. For example, under Medicare Part A, the full amount of your hospital bill is generally not covered, so you will most likely be responsible for a share in the cost. You will also have to pay a deductible before your Medicare benefits begin.
Additionally, Medicare Part B beneficiaries are usually responsible for a portion of their healthcare costs. You’ll have to pay a small deductible each year before your Medicare Part B benefits kick in, and then typically pay 20% of the bill when you go to a participating Medicare doctor.
At Omaha Insurance Solutions, we will review the ins and outs of Medicare coverage with you and determine which is the approach for you, including whether an additional plan is best for you and your healthcare. We specialize in providing seniors throughout the Omaha-Lincoln Metro area with Medicare Supplement Insurance Plans to help fill in the gaps by Original Medicare, Medicare Advantage to enhance coverage and Prescription Drug plans. We’ll review the options available with you, your concerns and budgetary parameters to find health coverage that fits your personal needs.
Everyone Is Unique.
The right Medicare plan is the one with which you’re most comfortable. We’ll help you make this important choice by reviewing all the details of each plan with you. To speak with a licensed independent agent, give us a call at Omaha Insurance Solutions at 402-614-3389 TTY 711.