MEDICARE PART A
Hospital Insurance covers inpatient hospital care, skilled nursing facility, hospice, lab tests, surgery, home health care. This coverage is usually free, based on your work history. If you have less than 10 years or work in the US you may have to pay a premium.
MEDICARE PART B
Medical Insurance covers doctor and other health care providers’ services and outpatient care. Part B also covers durable medical equipment, home health care, and some preventive services.
There is a monthly premium for Part B coverage.
IF YOU THINK YOU MAY NOT BE GETTING ALL THE BENEFITS YOU ARE ENTITLED TO, WE CAN HELP!
Social Benefit Advisors can assist you in reviewing previously filed claims. Don’t spend anymore time wondering if your claim was filed properly, we can handle it for you. Get in touch with us for more information about current Social Security benefits regulations and how a Social Security benefit analyst can help you.
We can help! Submit a callback request to speak with our professional analysts and review your situation. Let’s maximize your personal and family social security benefits.
WHAT IS A MEDICARE ADVANTAGE PLAN?
Medicare Advantage Plans are another way to get your Medicare Part A and Part B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow rules set by Medicare. Most Medicare Advantage Plans include drug coverage (Part D). In most cases, you’ll need to use health care providers who participate in the plan’s network. These plans set a limit on what you’ll have to pay out-of-pocket each year for covered services. Some plans offer non-emergency coverage out of network, but typically at a higher cost. Remember, you must use the card from your Medicare Advantage Plan to get your Medicare-covered services. Keep your red, white, and blue Medicare card in a safe place because you’ll need it if you ever switch back to Original Medicare.
DO I NEED MEDICARE SUPPLEMENT INSURANCE (MEDIGAP)?
Medigap is Medicare Supplement Insurance that helps fill “gaps” in Original Medicare and is sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like copays, coinsurance and deductibles.
HOW DO I BECOME ELIGIBLE FOR MEDICARE?
In order to be eligible for Medicare you must either be of age, on disability, undergoing a course of dialysis or have a transplant.
If you were not originally born in the US or are not a citizen yet, you may still be eligible for Medicare. You must have at least 5 years of residency in the US, so if you immigrated later than age 60 you would become eligible after the age of 65.
WHEN AM I ELIGIGLE FOR MEDICARE?
There are a few different situations in which someone would become eligible to enroll into Medicare, the most common are below.
AGE: Medicare coverage based upon your age is at 65. For some who immigrated to the US later in life it could be after 65, depending on residency or alien status.
DISABILITY: If you are receiving Social Security disability, after 2 years of receiving benefits, you become eligible for Medicare Part A and B. You may be eligible at an earlier date if you are on dialysis, read below.
END-STAGE RENAL DISEASE (ESRD): In the event you have kidney failure and/or a transplant and start a period of dialysis, you could be eligible for Medicare even if you are not on Disability.
WHAT IS THE IRMAA?
Income Related Monthly Adjusted Amount is a surcharge that is based on your income. When you file your taxes with the IRS that information can be shared between federal agencies. Depending on Modified Adjusted Gross Income(MAGI) on your tax return, it could have an impact on what you pay for Medicare Part B and Part D. If you receive notification that you will have a surcharge, you can dispute it if you meet certain criteria. All you need to do is complete a form. Contact us now to find out more!
WHAT IF I AM ALREADY COVERED WITH INSURANCE?
Assuming you become eligible for Medicare based on one of the situations above, but you already have health insurance via you or your spouse’s current employer? You may not need to enroll into all of Medicare. Everyone has a different situation and different coverage. Contact us today to find out more!
BENEFITS OF UTILIZING SOCIAL BENEFIT ADVISORS
Benefits of Utilizing Social Benefit Advisors Social Security is a national insurance program that offers financial support to citizens in times of need; for example: retirement, disability and [...]
GET THE MOST OUT OF YOUR RETIREMENT BENEFITS
Get the Most Out of Your Retirement Benefits After years of working for the Social Security Administration and teaching the public about their benefits and entitlements, I discovered how [...]