As seniors get close to the age they can retire, they begin to take stock of the assets they are going to have. The majority understand how Social Security works and know it will be there to supplement their income. Many are less sure about their health benefits, and what the government will and won't do for them once they reach sixty-five. In order to make informed, responsible decisions in regard to their health, seniors need to have Medicare questions answered.
Seniors want to know when they can enroll. You can sign up for your benefits anywhere from three months before you turn sixty-five to three months after you turn sixty-five. That includes the month of your birthday as well. If you're already receiving Social Security, you don't have to do anything. You'll be signed up automatically for Parts A and B on the first day of the month you turn sixty-five.
Seniors are concerned about long term health care and want to know if their benefits include it. The simplest answer is no. You will not be covered for things like custodial care and help with daily living, if that is the primary focus of your needs.
What is will pay for is long term care in a hospital and some nursing care in a qualifying facility. Your benefits will pay for certain home health services, hospice, and respite care. For more information about nursing home care, you should visit the government's website.
Why you would choose an Advantage Plan instead of Part A and B is confusing to many. One of the biggest reasons is that Advantage Plans will pay for prescription drugs. Advantage Plans pay all covered expenses after you have reached your out of pocket responsibility of $6700. If you are interested in having dental and vision care, you will need to sign up for an Advantage Plan.
HMOs and PPOs are another source of confusion. Many seniors are unsure what the difference is between these two. Health Maintenance Organization plans, or HMOs, cost less when it come to the money that comes out of your pocket. That's what makes them attractive to many seniors. You must use a physician in their network though. Many HMOs cover prescription drugs.
Preferred Provider Organization plans, or PPOs, allow the senior to choose any physician who accepts Medicare. These plans don't require you to stay inside their network. This is a big plus for retirees who have a doctor they trust, but who isn't in the PPOs network. The monthly premiums are higher with PPOs. If you decide to go outside the network for a physician, it could cost more. Prescription drugs are covered.
The difference between Medigap and supplemental insurance is another area of confusion. The main difference is in the carrier you use. All the lettered plans are just the same. It doesn't matter where you live or which carrier you use. The price can vary from carrier to carrier.
Seniors want to know when they can enroll. You can sign up for your benefits anywhere from three months before you turn sixty-five to three months after you turn sixty-five. That includes the month of your birthday as well. If you're already receiving Social Security, you don't have to do anything. You'll be signed up automatically for Parts A and B on the first day of the month you turn sixty-five.
Seniors are concerned about long term health care and want to know if their benefits include it. The simplest answer is no. You will not be covered for things like custodial care and help with daily living, if that is the primary focus of your needs.
What is will pay for is long term care in a hospital and some nursing care in a qualifying facility. Your benefits will pay for certain home health services, hospice, and respite care. For more information about nursing home care, you should visit the government's website.
Why you would choose an Advantage Plan instead of Part A and B is confusing to many. One of the biggest reasons is that Advantage Plans will pay for prescription drugs. Advantage Plans pay all covered expenses after you have reached your out of pocket responsibility of $6700. If you are interested in having dental and vision care, you will need to sign up for an Advantage Plan.
HMOs and PPOs are another source of confusion. Many seniors are unsure what the difference is between these two. Health Maintenance Organization plans, or HMOs, cost less when it come to the money that comes out of your pocket. That's what makes them attractive to many seniors. You must use a physician in their network though. Many HMOs cover prescription drugs.
Preferred Provider Organization plans, or PPOs, allow the senior to choose any physician who accepts Medicare. These plans don't require you to stay inside their network. This is a big plus for retirees who have a doctor they trust, but who isn't in the PPOs network. The monthly premiums are higher with PPOs. If you decide to go outside the network for a physician, it could cost more. Prescription drugs are covered.
The difference between Medigap and supplemental insurance is another area of confusion. The main difference is in the carrier you use. All the lettered plans are just the same. It doesn't matter where you live or which carrier you use. The price can vary from carrier to carrier.
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