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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What consumers can expect from Medigap coverage
According to senior Medicare adviser from PlanPrescriber, Steve Zaleznick, consumers with original Medicare have been watching their insurance premiums steadily climb, and it is recommended that these individuals carefully consider their Medigap supplemental coverage in order to make sure that adequate protection under a less expensive plan. According to the director of benefits access policy of the Washington D.C.-based nonprofit advocacy organization, National Council on Aging, Hilary Sohmer Dalin, Medigap plans are designed to function with the original Medicare plan, and “Medigap wraps itself around Medicare and covers some or…
Read MoreSeniors may soon pay more for medical expenses
Senior citizens may be facing a number of new out-of-pocket expenses for healthcare as Congress struggles with debt limit talks and is debating alterations to the supplemental plans for Medicare. The federal health program, Medicare, is meant to support the elderly and disables, though they are responsible for the payment of certain test costs, hospital deductibles, and visits to the doctor. In order to assist themselves with these additional out-of-pocket expenses, many Medicare beneficiaries purchase Medigap plans. Among the beneficiaries, 34 percent receive their Medigap coverage from their former employers.…
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