Medicare and Life Insurance

What is Medicare

What is medicare?

Medicare is health insurance for people age 65 and older. Some people age under 65 with certain type of kidney disease also qualify for medicare also know as endstage renal disease.

Medicare is not medicaid they are completely two different programs services. Once you turn the age of 65 you have the option to choose original medicare or medicare advantage (part C).

Medicare supplement or medigap should be purchased in addition to original medicare to fill in the gaps or pay everything in Part A and B(original medicare).

Original medicare pays 80% of the medical bills only….you need to purchase a medicare supplement plan to pay the 20% of the medical bills.

Part D or drug plan is not included in original medicare…in medicare advantage plans most drug coverage and vision/dental are included in the policy.

Every senior pays the standard premium $121.80 for part B medicare regardless if you buy medicare supplement or medicare advantage There is no way around getting a discount or getting medicare free unless you qualify for extra help(low income).

Regardless anyone’s opinion just look at page 32 of the medicare book as of 2016 the rate every senior pay for Part B premium is $121.80.

In Summary you have 2 options to choose medicare insurance:

1. Original Medicare (part B premium) + Medicare Supplement + Part D coverage (Drug Plan)

Premium ie: $121.80(part B premium) + $ 175.00 + $50 = $337.80/month

Higher in premium/rates but you can visit any doctor, any network, no referrals needed. Receive the best medical treatment in any part of the United States…no restrictions

2. Medicare Advantage(Part C) includes medical insurance, drugs, dental,vision, in most plans..

Premium ie: $121.80(part B premium) + $49.00 = $170.80/month

Much Lower in premium/rates…. BUT very restricted like an HMO or PPO. Check if your doctor or hospital is in the network.

Cannot choose any doctor or hospital