A healthy lifestyle, diet and attitude are all crucial elements to
maintaining happiness and health and enjoying longevity. Because of
modern medicine, we now have the means to prevent and cure diseases
that would have been deadly and impossible to beat years ago. These
advances are incredible and nothing short of a miracle. As our
ability to fight and defeat disease increases, so does the cost
associated with medicines and research needed to conquer these
illnesses and maintain good health.
While there are many ways that people might pay for medicines and
health services, there may be some who are disabled or elderly and
unable to work to afford these treatments. Being keenly aware of
these needs, the US government created the Medicare system in 1965.
This program enables seniors and certain people on disability to
receive medical care, supplemented by the government, at a fraction of
what it would be to pay out of pocket.
Medicare Explained
Medicare is separated into four different parts, A, B, C and D. Parts
A and B are automatic enrollment programs, which means that Medicare
recipients will automatically receive the coverage’s provided by these
parts. C and D, however, are optional, which enables people to decide
if they would like to increase their Medicare coverage for a small
fee.
Parts A and B are basic coverage policies that cover hospital expenses
and general health care. These parts provide financial reimbursement
for basic services such as doctor’s visits, lab tests, some hospital
stays and services and so on. Part B will also cover any additional
services that are performed in an outpatient facility and not in a
hospital.
Part C is the Medicare Advantage Plan. Medicare Advantage Plans are
not provided by the government and can be purchased through private
insurance companies. Part C replaces the coverage and services
provided by Medicare and replaces them with equally proficient
services from physicians and facilities within the network of the
private provider. While Medicare maintains strict limitations on care
available and limits the professionals who can provide the care,
Medicare advantage plans enable enrollees the ability to select their
physicians and where they receive medical attention. The fees
associated with Part C are generally a bit higher than the fees
charged by Medicare and are typically paid for through a monthly
premium.
Medicare Part D is another optional part of Medicare, and it covers
prescription drugs. While Medicare does not offer prescription drug
coverage, they approve certain stand-alone prescription coverage plans
that Medicare enrollees can choose from. In addition, Medicare
recipients have the option to purchase a Medicare Advantage Plan that
provides prescription coverage. While these plans are not provided by
Medicare, some of the cost is offset by Medicare. Prescription drug
plans are fully customizable and enrollees can choose which drugs they
do want covered, as well as those they do not wish to pay for.
Additional Options for Seniors
Although Medicare is a great system, there may be some people who have
a history of disease in their families and want to prepare in case of
more dire circumstances. There are certain limits to what Medicare
will pay for each year. Those who anticipate medical expenses in
excess of what Medicare will cover may feel like they have no options
to help pay for their costs. This, in fact, is not realistic, as
private insurance providers have been allowed to build on top of the
basics that Medicare covers and offer insurance plans that provide for
more extensive medical coverage.
Medicare Advantage Plans
Medicare Advantage plans are a great place for the elderly to find
additional medical coverage. As explained, Medicare Advantage Plans
is medical insurance provided by private companies that replace the
coverage provided by Medicare. The government requires that Medicare
Advantage Plans provide at least the same amount and quality of
coverage as is provided by Medicare. The benefit of an Advantage plan
is that the policy holder has the option to change the services
provided to fit the plan to their own needs. These plans cost more
than Medicare, but provide more tailored coverage to the policy
holder.
Medicare Supplemental Insurance
An additional option when selecting private
insurance is Medicare Supplemental Insurance (
www.medicaresupplementalinsurance.com ) This insurance, commonly
called “Medigap,” is a private insurance that “fills the gaps” of
Medicare coverage. With six different Medigap plans (
www.medicaresupplementalinsurance.com/medicare-coverage)
options available, there is bound to be one to fit the needs of each
Medicare enrollee. These policies are provided by private insurance
companies, meaning that the coverage’s and prices associated will
differ depending on the provider.
If you or a loved one is growing older and in need of health
insurance, take time to consider your options. Take your future very
seriously and consider all of your health needs. Maintaining your
health is the start to enjoying the opportunities that arise in life.
Ensure that you will be around to enjoy these opportunities by
learning about Medicare and the associated available insurances.
