Medicare beneficiaries can have a lot of concerns when it comes to their insurance coverage. Here are some of the most common concerns answered to make sure you know what to expect with Medicare.
Coverage: What’s Included?
When you’re buying a health insurance plan, one of your top priorities should be coverage. As a Medicare beneficiary, you want to make sure you know what your plan covers and when.
More often than not, benefits will vary depending on where you live, when you receive care, and where you receive it. This is when it’s important to read the “fine print”—check with the healthcare provider and/or your Medicare plan before receiving a benefit to make sure it’s covered.
For Original Medicare (Parts A and B), coverage is simple. Under Part A, you receive up to 60 days of hospital care and 20 days of nursing facility care. Any charges for care received in relation to emergencies will be covered within those time frames.
For Part B, you can receive doctoral approval for almost any medical service you need. You must, however, have approval from your doctor first—without it, Part B will not cover the costs. With that approval, you can receive a huge variety of benefits, including preventative care, Durable Medical Equipment (DME), and much more.
Cost: Is it Too Much? Can You Afford it?
Medicare is one of the least expensive types of health insurance out there, so cost is a relatively low-risk concern to worry about. However, that doesn’t mean that it isn’t incredibly important.
Beneficiaries pay (in 2021) a $1,484 yearly deductible for Part A, and a $203 deductible for Part B. Once this is covered, you can receive any available benefits during that year without having to pay this deductible again.
And, unlike virtually all other health insurance plans out there, Medicare Part A has a premium-free option. If you or your spouse have worked at least 10 years paying Social Security taxes, you will not have any monthly payment for Part A.
For Part B, the 2021 premium is $148.50. Even with this deductible, however, your costs are still competitively low when accounted for with the low deductible.
Comparison: Can You Shop Plans in Your Area?
Original Medicare is not, however, a beneficiary’s only option for coverage under Medicare. There are supplements, Advantage plans, and Part D plans that can provide additional benefits and cost coverage if you sign up for one.
These plans, unlike Parts A and B, will vary in cost and benefits depending on the provider you choose and the place you live. For additional coverage, then, beneficiaries have to “shop around” and compare available prices and coverage for the best deal. The best way to do this is with a local, trustworthy insurance agency.
Game Changing Benefits Answers the Tough Medicare Questions
You have a lot of questions about Medicare. Feel like no one gives you a straight answer? Then it’s time for a change. Game Changing Benefits insurance advisors don’t shy away from tough questions—for genuine help and advice, give us a call at 972-331-1060.