A guide to Medicare insurance

Medicare is a more cost friendly alternative to paying for basic health-care for senior citizens. Generally, citizens of at least 65 years old qualify for Medicare. If you are under 65 years old and have either permanent kidney failure or are permanently disabled and collect social security benefits, you also may qualify for Medicare.

Making personal medical insurance affordable

Medicare Part A Medicare Part A is commonly referred to as "free insurance" or "cheap health insurance". Although anything which is usually free is a benefit, Medicare Part A typically covers health-care in the home, hospice services and hospital visits only. Medicare Part B Lab tests, ambulatory services and doctor/physician visits are covered by Medicare Part B. Although Part B is Medicare, it does not carry the label of free health insurance like Part A. Medicare Part B users can expect to pay a monthly premium of anywhere from $94 up to $161, influenced by income. Most senior citizens opt to have this premium deducted from their Social Security income. Costs of Medicare Part B Although Social Security income will cover for Medicare Part B costs, the first $150 of expenses (annually) is paid out-of-pocket along with approximately 20% of charges, pending health insurance provider approval. Since this first $150 and 20% cost is not picked up by Social Security, many citizens turn to supplemental Insurance, which does.

Covering the gaps of individual health plans

Supplemental insurance Supplemental Insurance is additional insurance purchased by citizens to pay for co-payments, deductibles, and out-of-pocket medical expenses (such as the first $150 of Medicare costs). Medigap One of the most popular types of supplemental Insurance policies sold is Medigap, specifically designed by private medical care companies to assist Medicare recipients. Medigap Insurance has become reputable, as it covers the gaps in traditional Medicare, making health-care much more affordable. Private health insurance One of the best options to affordable health-care is private health insurance. These insurance policies are generally offered by corporations and companies, and is usually a more comprehensive, subsidised coverage. These policies usually have an option to pay the premium for you, and offer excellent tax breaks as well. Final word Just like home or auto insurance, it would be advisable to compare Insurance companies often to assure the best possible medical insurance rates. With an unsure Social Security system and an ever fluctuating economy, cheap health coverage and cheap medical insurance should be the goal of every senior citizen. Prices were seen on the following websites: - Cahealthadvocates.org
- Ssacusthelp.ssa.gov
- Medicare.gov