Medicare Supplement Plans and Medicare Advantage Plans

When a senior joins Medicare at the age of 65, they will have Medicare Part A and Medicare Part B to help cover their medical expenses. Those expenses covered are only 80% and the remaining will be the responsibility of the Medicare recipient. Also Medicare does not cover dental, hearing, vision expenses or prescription drugs a physician may require for your health concerns.  Deductibles and copayments may also not be covered and you will need to pay for these medical costs yourself. This can be a great concern when a senior is on a fixed budget and has limited savings to pay for these added expenses.

If you get an Aetna Medicare supplement it will help cover the 20% cost that you have remaining. Medicare supplement plans, also known as Medigap, are available from private insurance agencies and they are standardized by Medicare and are all the same among the agencies. They are known by the letters A-N. Each plan will cover different medical costs and you will be need to study which plan will be good for you. The difference will be in the monthly premium costs that each agency can determine and where you reside will also have an effect. One must have Medicare Part A and Medicare Part B to get a Medicare supplement plan. You will also need to get an additional plan called Medicare Part D, through Medicare and various companies, to help with the cost of your prescriptions. These are not included in Original Medicare.

A Medicare Advantage Plan already include Medicare Part A and Medicare Part B. You are still with Medicare, but you will get your Medicare benefits through your Medicare Advantage Plan instead of the government regulated Medicare plan. You must live in the area of where the Medicare Advantage Plan is issued and not have end stage renal disease and will have Medicare Part A and Part B. Some Medicare Advantage Plans may also cover vision, hearing and dental care and also may cover your prescriptions drugs. The plans are all different and cover various medical services and it is so important to really look at each one to determine what will meet your individual needs. As said before, cost of the premiums are determined by the insurance agency and can vary greatly, so one will really have to see what plan will be sufficient for your medical concerns and your monthly budget.

 

HOW MEDICARE OF UNDER 65 YEARS WORK

When one is declared disabled and is under 65, he can still qualify for Medicare provided he has registered everything as per the company requirement otherwise, some penalties go hand in hand with noncompliance of full registration.

In this arrangement, one is expected to wait for two years from the time of registration for medicate to be active. This cover can be successful through the current employment that one is in since even though one is disabled and still working, the employer is fully liable for the cover.

At the maturity of the waiting period which, the disabled person has the option to get other benefits such as Medicare part D.

Should a person leave employment due to permanent disability, then in this instance they are eligible to join Medicare through an option well known as Cobra which helps in the extension of the eligibility from the employer.

There are also instances where one is unable to meet the premiums through COBRA, the state has another program called Medicaid which is offered at a negotiated rate and will still be effective as the Medicare.

In this instance, Medicare becomes active after 25 months from the date you receive an SSDI check and Medicare will automatically begin from the first month when you receive the check because you have the Amyotrophic Lateral Sclerosis.

The other option in which one qualifies for Medicare under 65 is when you have kidney failure. It’s also called the End-stage renal disease. This one qualifies if the below-listed conditions are observed.

  1. If you have already started the dialysis treatment and have already had a kidney transplant.
  2. If you have applied for medical benefits for a continuous 12 months.
  3. If you are also eligible to qualify for the SSDI check
  4. If your dependents are your spouse or parents have been paying taxes for Medicare without fail, then you are considered.

 

However, some conditions need the intervention of the Social security; for instance, the rail road works must get approved by the social security before qualifying.

A spouse who is 62 and above also qualifies to have Medicare insurance if the husband is the one who is employed and has already retired and has signed up for Medicare. This one also needs you to check with the social security for approval.

Conclusion

One does not have to remain silent if the condition s that allow him to qualify for Medicare under six hits. Ensure that you follow up with the relevant authorities, and you will receive all the support required.

There are a few states that also have Medicare Supplemental plans for people that are on Medicare under 65.  Make sure to check in your state.

 

 

 

 

 

Get to know the Medicare supplement plans in details

People with 65+ age can now avail the Medicare supplely criteria through, they have to be permanent residents residing in the US. This is not the only criteria though, the spouse of this person, needs to have worked or is currently working for around 10 years or more. However, if you are a person with some kind of disability and if you meet certain guidelines, then you can also avail these supplement plans in spite of being 65 under age.

Part B and Part A of the plans

What many people do not know about these parts of the Medicare supplement plans is that these parts are provided by the government itself.

The premium of the part A of the Medicare supplement plan is not paid by many; this includes taking good care of patients in hospitals, facility of nursing homes and also other health care systems. The reason behind this is that, the particular person is still getting paid while working inside the system, but after a period of sixty days, there is a coinsurance and a small amount of $1,316 is deducted.

The other part or the part B of the supplement is basically for providing coverage for health care visits, visits to the general physician and care for outgoing patients and for other precautionary services to the patients. This part is designed for the patients to take care of 80% of the services that is caused by the government.

Prescription coverage

This part can also be called as part C and is like an amalgamation of part A and Part B; it includes coverage for vision, drugs on the prescription and also the dental coverages. Based on the benefits borne by the patient, the premium can be either Zero or other additional premium can be added based on the kind of benefits a patient is getting out of the supplement plans.

However, if the prescription drug plan given on the Medicare drug plan is costing between the range of $15 and $100 then it will be covered by several private insurance companies.

Medigap policies

Now, you must understand that not everything is covered by Mutual of Omaha medicare supplement plan G, thus to cover the vacancies you have the medigap policies which is not included in any parts (A or B), however they do come with separate premium plans.

Where do these medigap policies come into play?

The coverage for prescription drugs is a part of the medigap policies. Moreover, you can change your Medicare supplement plans on annual basis. Make sure to interact with a professional before taking a decision.