With the Thanksgiving turkey eaten and Black Friday’s discount-hunting madness behind them, consumers have started to use the final two weeks left for open Medicare enrollment to do their last minute insurance shopping. Senior citizens are now starting to run out of time for choosing a new Medicare prescription drug or Advantage plan if they want to alter their current coverage. The deadline for Medicare’s open enrollment has been moved to December 7 from its traditional December 31 as a result of the 2010 federal healthcare laws. The reason for…
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An overview of Medicare plans and what they cover
Medicare health insurance is a program that is federally administered and is made available to people with certain specific forms of disability, permanent kidney failure, or people who are 65 years of age or older. There are several different types of Medicare plans, the basics of which are as follows: • Medicare Part A – provides coverage for hospital care (among institutions that accept Medicare) and has no monthly premium for its beneficiaries, as long as they have been employed and have paid FICA taxes for a minimum of a…
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