ABCDS OF MEDICARE AFEA SERIES

Get one-on-one help through Virginia’s State Health Insurance Assistance Program, at 80 or online at /vicap.asp.

Contact Medicare at 1-800-MEDICARE or online at.

If you’re like Laura and are caring for someone with Medicare, here are some useful resources to help with your questions: People with Medicare Advantage plans typically have a set network of doctors, other providers and hospitals to choose from. It’s important to call before an appointment with a new doctor to make sure Original Medicare is accepted. People with Original Medicare can go to any doctor or health facility that accepts Medicare. There are also some health care services that Medicare doesn’t cover, such as an extended stay in a nursing home and routine dental, vision and health care when traveling outside the United States. People with Medicare are responsible for paying the costs that are not covered, such as deductibles, copayments, and coinsurance. Medicare covers a lot of health care costs, but like most other insurance it doesn’t pay for everything.

Learn what Medicare pays for, and what it doesn’t.

A Medigap plan cannot be added to a Medicare Advantage plan. Some plans also pay for additional services that are not covered by Original Medicare. Medicare Advantage plans are offered by private insurance companies and pay for the same health care services as Original Medicare. Includes Part A (Hospital), Part B (Medical) and Part D (Prescription Drugs) under one plan.

Medicare Advantage, also known as Part C – An alternative to Original Medicare.

A Medigap plan helps pay for some of the costs that Original Medicare doesn’t cover. People with Original Medicare might also decide to buy a Medigap plan. To get drug coverage with Original Medicare, the person also has to buy a Medicare-approved prescription drug plan. Includes Part A (Hospital) and B (Medical).

Original Medicare – A fee-for-service health plan in which the person can choose any doctor or hospital that accepts Medicare.

People with Medicare have two ways they can get their Medicare health and prescription coverage: They can choose Original Medicare or a Medicare Advantage plan.

Part D – (Prescription Drugs) Covers prescription drugs.

Part B – (Medical) Covers doctors’ office visits, medical equipment, lab tests.Part A – (Hospital) Covers inpatient hospital services, some home health, hospice and skilled nursing facility care.Each part helps cover different types of health services. You may have heard that Medicare is made of different parts. If so, it will be useful for you to learn about how Medicare works and where to go for information when you need it.

Perhaps you’re lending a helping hand to a loved one in your life. Laura didn’t know much more about Medicare than its name, but realized she needed to learn more to ensure her mom could get the most out of her coverage.

Like most people age 65 and over, Laura’s mom has Medicare. Fortunately, the disease has been slow to progress, but lately her mom has needed more help to be able to continue living independently. in Florence KY.Laura recently started providing extra help to her 72-year-old mother who has Parkinson’s disease. Join me for a 2 hour Medicare class sponsored by American Financial Education Alliance (AFEA) a 501(c) (3) non-profit offering financial wellness programs, on either Feb 20, 25, Mar 1. COBRA does not count as group health insurance.

So it is best to check with the private insurance plan on the impact of taking Part B if you are still working. If you start taking Part B ( which is the Medical portion), then you might nullify your private insurance. You can easily sign-up for Part A only, by writing to the CMS (Center for Medicare and Medicaid Services) that you decline Part B, because you are currently covered under a current health plan. Part A being hospitalization, comes at no charge to you (already being taxed) and may help cover some hospitalization after your private plan stops paying, should you be hospitalized. Medicare can be a second payer under limited conditions. If you are still working, some research is involved. You are never 'required' to take Medicare, but you may be automatically enrolled if receive Social Security. This may have a significant material impact on our retirement plans and lifestyle.ĭo you need to sign-up for Medicare at 65, even if you are still working but are currently covered under a group health plan? The impact of healthcare costs is severely underestimated for many who are soon to enter retirement or early in retirement.

ABCDS OF MEDICARE AFEA SERIES

This is the beginning of a series on Medicare, the federal health insurance program for persons sixty-five and over.

Abcds of medicare afea