Turning 65 is a major milestone in one’s life. If you’ve achieved this milestone or are close to it, planning for your future health and wellbeing is naturally what you should be thinking about.
Invest in a great medical insurance plan to ensure that you and your loved ones enjoy a healthy life to the fullest.
Here you can learn all about the perfect health plan for you!
Medicare Health Insurance
Medicare is health insurance provided by the federal government of the U.S for senior citizens and people with disabilities. Currently, there are 44 million beneficiaries of Medicare in the U.S with enrollment expected to increase to 79 million by 2030.
The Medicare enrollment time frame starts 3 months before you turn 65, the month you turn 65 and three months after you turn 65. The ideal time for patients to enroll is within the first 3 months of your 65th birthday.
Medicare services are offered in 4 parts: Part A, Part B, Part C and Part D.
Part A and Part B—Original Medicare
Part A: This part of Medicare services covers hospitalization costs and nursing facilities for a specific time period. Beneficiaries have the option to choose any hospital/doctor that accepts Medicare payments.
Part B: It covers expenses incurred from doctors’ visits and for services such as lab tests, wheelchair use, walkers and surgeries. The cost of preventative care such as flu shots, mammograms and annual checkups is covered in Part B too.
Note: There are certain costs like copayments, medical care coverage exclusions and deductibles that Original Medicare does not cover. In that case, patients should opt for Medicare Supplements.
Medicare Supplements—or Medigap Policies—are so named because they are used to cover the gaps in Original Medicare Part A and Part B. They are typically provided by private insurance carriers.
Part C—Medicare Advantage
Patients need to make a choice between Original Medicare and Medicare Advantage as you can’t have both. Part C of Medicare services is provided by private insurance companies and covers additional services such as hearing, vision and prescription drugs.
Part D—Prescription Drug Coverage
This part of the insurance plan covers the cost of prescription drugs. Beneficiaries of Original Medicare need to join a separate drug plan which is offered by private companies.
When it comes to getting a medical insurance plan, hiring broker streamlines the process like nothing else. Insurance brokers cater to your needs and advise you in buying the right plan.
The Right Medicare Insurance Broker For You!
We at Medicare Values are an independent health insurance broker based in Raleigh, NC. We work with multiple insurance companies to offer unbiased Medicare insurance recommendations to clients. Medicare Values’ insurance brokers stay up-to-date with changes in Medicare policies to ensure your applications gets filed in time.
With our assistance, senior citizens who have turned 65 or are close to the occasion are able to pick the best Medicare plans catering to their budget and requirements.