Medicare Insurance : All you should know before obtaining Medicare insurance



Medicare is administered by the center for medicare and medicaid services. Medicare is the nation’s largest health insurance program and it covers about 40 milllion Americans. Medicare insurance covers certain medical services and supplies in hospitals, health care settings as well as doctors’ offices. Anyone receiving medicare will have a choice as to the type of coverage they prefer.

Types Of Coverage

Medicare Part A is hospital insurance which covers a patients stay in the hospital as well as in a skilled nursing facility, hospic and home health care. Medicare Part B is medical insurance and it covers doctors’ services, out patient care, and home health care. Medicare Part C is like an HMO or PPO and is called Medicare Advantage Plans. This coverage includes part A, B and other coverages. Medicare Part D covers medicare prescription drugs, it helps to cover the cost for medicine that a person may need.

Eligibility

A person will be able to get premium-free part A if he or she is 65 and has paid Federal Insurance Contributions taxes for at lease 40 or more 3-month quarters. If these taxes were not paid then the person will have to pay for Part A out of pocket. Everyone must pay for Part B if it is need.

Cost

For people who do not have 40 or more quarters of medicare-covered employment, the premium will be $254.00 per month, For those who have less than 30 quarters of employment the cost is $461.00 per month. Anyone participating in medicare Part B will pay an insurance premium. These individuals will pay $96.00 per month. Part B premium are higher for those who exceeds the income limits of $85,000 for single individuals and $170,000 for married people.




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