The Importance of Medicare Advantage Plans
Health is one of the most precious assets, so it is highly essential to choose a health plan that provides sufficient coverage and reliable protection for you and your family. One such plan could be a Medicare Advantage plan, that may include additional plan benefits.
What is Original Medicare?
Original Medicare is a fee-for-service health insurance program that includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). It covers a range of services, including:
- Inpatient hospital care
- Doctors' services and tests
- Preventive services
- Outpatient medical services
- Drugs, medical supplies, and equipment
- Lab tests, x-rays, and exams
- Operating and recovery room services
- Diagnostic tests
- Blood transfusions
- Durable medical equipment
Medicare Part A & B
Original Medicare includes Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance). It covers services such as inpatient hospital care, doctors' services and tests, and preventive services. You pay for services and items as you receive them.
Original Medicare Eligibility
Eligibility depends on certain criteria. Anyone who has lived in the United States legally for at least five years and is 65 or older qualifies for coverage. Enrollment in both Parts A and B is automatic for anyone who receives Social Security benefits. Part D coverage is optional, and enrollment must be done by the individual. People under age 65 may be eligible if they receive Social Security Disability Insurance (SSDI). Those who receive SSDI generally need to wait 24 months after they receive their first check before they become eligible for Original Medicare although the program waives this requirement for anyone with ALS and or with permanent kidney failure. Enrollment can be done through the Social Security Administration (SSA) website. Initial Enrollment Period into Original Medicare starts 3 months before the 65th birthday, the month of, and 3 months after. Medicare Advantage & Prescription Drug Plan Annual Enrollment Period is from Oct 15 - Dec 7 of every year.
Is Medicare Advantage Worth Enrolling in?
Considering this is a big decision on your part, we advise you to connect with a licensed insurance agent for reliable consultancy and understanding of your needs. It is highly recommended to consider more than one insurance company before enrolling in a plan. This will help you choose the right plan.
Original Medicare vs Medicaid
Both Original Medicare and Medicaid are government-sponsored health insurance programs, but there are different eligibility requirements for each one. While Original Medicare is meant for those 65 and older and younger people with certain health conditions, Medicaid is a joint federal and state program that provides healthcare coverage to people with low incomes. Recipients are required by their state to have a limited amount of liquid assets.
Choosing the Right Medicare Advantage Plans Carrier
When you feel that Medicare Advantage plans are the right option for you. The next step is to choose a Medicare Advantage Carrier. You may shop around to choose the most suitable plan Carrier. For this, you could analyze and evaluate various plan benefits. You may be sure that you completely understand the policy terms and conditions.