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Medicare is one of the most important benefits available to the over-65 population. At the same time, it has a reputation for being difficult to understand.
However, according to a news release from Everence Financial Advisors of Hesston, understanding Medicare doesn’t have to be the hurdle it seems.
1. A wide range of core benefits is available through Medicare. These include in-office physician and outpatient visits; hospital care; rehabilitation and therapy treatments; and many preventive care services (such as second surgical opinions, diabetic supplies, mental health services and more), some of which are covered at 100 percent.
Medicare pays for short, post-hospital nursing home stays, including coverage for hospice care. However, it does not pay for long-term care.
Bottom line: think “acute” versus “chronic.” Medicare usually draws the line at paying for acute care.
2. Original Medicare (Part A and B) works anywhere in the country. With so many health-care providers accepting Medicare, you can find the care you need almost anywhere you travel in the country. Medicare does not, however, provide coverage outside of the United States.
3. You must be 65 to be eligible for Medicare (unless you are permanently disabled or have certain degenerative medical conditions).
Many people are confused about the relationship between Social Security and Medicare. You do not have to sign up for your Social Security benefits to receive Medicare. And, you can enroll in Medicare either through your local Social Security office or online at medicare.gov.
If you work past age 65 and have employer health insurance, you may postpone enrolling in some parts of Medicare.
4. Medicare has several parts. Part A covers inpatient care when you are admitted to a facility for overnight or longer stays. Most people pay no premium for this. This coverage starts at age 65 and will coordinate payment of your benefits with your other coverage if you are not yet retired.
Part B covers doctor visits and outpatient care. Most people pay for this coverage, based on your income. Generally the premium is deducted from your Social Security check, if you are receiving Social Security benefits.
Part C, also called Medicare Advantage, offers geographically localized, alternative ways of receiving your Medicare benefits through private insurance companies.
Part D is the optional prescription drug coverage.
5. While Medicare does cover a certain range of services, it does not pay completely for your medical care. There are gaps between what Medicare provides and what most people need. Because of these gaps, many people prefer the added protection offered by other types of insurance like long-term care and supplemental insurance.
For more information, contact Everence Financial Advisors, P.O. Box 909, 371 N. Old Highway 81, Hesston, KS 67062; or call (877) 467-7294 or (620) 327-4043.
Medicare is one of the most important benefits available to the over-65 population. At the same time, it has a reputation for being difficult to understand.
However, according to a news release from Everence Financial Advisors of Hesston, understanding Medicare doesn’t have to be the hurdle it seems.
1. A wide range of core benefits is available through Medicare. These include in-office physician and outpatient visits; hospital care; rehabilitation and therapy treatments; and many preventive care services (such as second surgical opinions, diabetic supplies, mental health services and more), some of which are covered at 100 percent.
Medicare pays for short, post-hospital nursing home stays, including coverage for hospice care. However, it does not pay for long-term care.
Bottom line: think “acute” versus “chronic.” Medicare usually draws the line at paying for acute care.
2. Original Medicare (Part A and B) works anywhere in the country. With so many health-care providers accepting Medicare, you can find the care you need almost anywhere you travel in the country. Medicare does not, however, provide coverage outside of the United States.
3. You must be 65 to be eligible for Medicare (unless you are permanently disabled or have certain degenerative medical conditions).
Many people are confused about the relationship between Social Security and Medicare. You do not have to sign up for your Social Security benefits to receive Medicare. And, you can enroll in Medicare either through your local Social Security office or online at medicare.gov.
If you work past age 65 and have employer health insurance, you may postpone enrolling in some parts of Medicare.
4. Medicare has several parts. Part A covers inpatient care when you are admitted to a facility for overnight or longer stays. Most people pay no premium for this. This coverage starts at age 65 and will coordinate payment of your benefits with your other coverage if you are not yet retired.
Part B covers doctor visits and outpatient care. Most people pay for this coverage, based on your income. Generally the premium is deducted from your Social Security check, if you are receiving Social Security benefits.
Part C, also called Medicare Advantage, offers geographically localized, alternative ways of receiving your Medicare benefits through private insurance companies.
Part D is the optional prescription drug coverage.
5. While Medicare does cover a certain range of services, it does not pay completely for your medical care. There are gaps between what Medicare provides and what most people need. Because of these gaps, many people prefer the added protection offered by other types of insurance like long-term care and supplemental insurance.
For more information, contact Everence Financial Advisors, P.O. Box 909, 371 N. Old Highway 81, Hesston, KS 67062; or call (877) 467-7294 or (620) 327-4043.
