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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Medicare supplemental health plans may be facing new limits
Supplemental health plans for Medicare insurance beneficiaries may soon be facing cutbacks as a result of the major reductions being made in the budget as a result of the special U.S. Congress deficit reduction panel. Medigap insurance plans provide additional coverage for many elderly people who have Medicare. These are individuals often live on fixed incomes. They rely on Medigap to protect them from the many deductibles and expenses for which Medicare does not provide coverage. A lobbyist that has been keeping track of the latest “super committee” developments explained…
Read MoreAnswers you should know to the FAQ’s about Medicare
Though it may feel overwhelming when you are faced with the most common questions to Medicare and Medicare Supplement Insurance, in truth, it doesn’t take hours of research to know what options are available to you. The most commonly asked question is regarding the difference between Medicare Advantage (MA) Plans, and the Original Medicare. The fact is that there are a number of important differences between them. The original plan is government Medicare, whereas MA is private Medicare. The two plans involve comparable out-of-pocket expenses. An MA plan is essentially…
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