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Why Medicare is important?

Introduction

If you're like most people, Medicare is something you think about when it's time to retire. However, Medicare insurance can be a big help even if you don't plan on retiring or getting Social Security any time soon. That's because Medicare can help pay for your healthcare costs if you're working and have no other type of health insurance coverage. In this post, we'll look at some key things to know about Medicare and how it works—and why you need it!


Medicare can help you pay for some of your healthcare costs.

When you enroll in Medicare, you can get help paying for some of your medical bills. However, Medicare is not free and does not cover all healthcare costs.

In general, Medicare doesn't pay for long-term care or nursing home stays. The specifics will vary depending on whether you are receiving Part A (hospital insurance) or Part B (medical insurance).


Not having health insurance can be expensive.

It is important to have health insurance, and Medicare is a great option for many seniors. Not having health insurance can be expensive, especially if you get sick or injured. The costs of medical bills can add up quickly and lead to debt, bankruptcy, and even financial ruin.


Medicare isn't just for seniors.

Medicare, a federal health insurance program for people age 65 and older and some younger people with disabilities or ESRD, is one of the most important benefits seniors receive. Approximately 1 in 3 Americans age 65+ have Medicare coverage.

But it's not just for seniors! People under age 65 who have specific disabilities or conditions can apply for coverage as well. In fact, almost 600,000 people under age 65 are enrolled in Medicare because they have the end-stage renal disease (ESRD). They rely on their Medicare coverage to help cover medical expenses that aren’t covered by other types of insurance—including dialysis treatments and additional ongoing kidney care costs.

Here's how you can find out if you qualify:

  • You may qualify if you meet these requirements:

  • Age 65 or older; or

  • Disabled; or

  • Have been receiving Social Security Disability Insurance payments for at least 24 months; or

  • Have received Social Security disability benefits but are still working at least part-time

Medicare can help with most of the medical expenses that high-deductible health plans don't cover.

Medicare can help with most of the medical expenses that high-deductible health plans don't cover.

Medicare will cover 80% of your healthcare costs, but you'll have to pay a monthly premium and deductibles.


You'll still have some out-of-pocket costs with Medicare.

While Medicare provides insurance for a lot of your healthcare expenses, it won't completely cover them all. That's why it’s important that you have other types of insurance as well. In general, Medicare does not cover:

  • Dental services

  • Vision services

  • Hearing aids or other medical equipment (except for eyeglasses)

You may be eligible for extra help through Medicaid and/or Medicare Savings Programs.

You may be eligible for extra help through Medicaid and/or Medicare Savings Programs. The following are examples of programs that provide individuals with extra help in paying for their healthcare costs:

  • Medicare Savings Program (MSP)

  • Qualified Disabled and Working Individuals (QDWI)

There's more to Medicare than just Part A and Part B (Original Medicare).

Medicare is a federal health insurance program for people 65 and older. Part A and Part B are the two parts of Medicare.

Part A covers inpatient hospital stays, skilled nursing facility care, home health care, hospice care, and some preventive services.

Part B covers outpatient care (including certain types of doctor visits), lab tests, x-rays, medical equipment/devices like wheelchairs and walkers as well as preventive services like flu shots or mammograms (if you haven't met your yearly deductible). It also pays 80% of your total cost when you get treated at a hospital or other facility that accepts Medicare assignments (meaning they accept what Medicare allows them to charge).


The right type of coverage for you will depend on your needs and situation.

No matter your situation, there are a variety of health insurance options to help you stay covered. With Medicare Advantage plans, you get the benefits of Original Medicare as well as additional services and more flexibility. You can choose a Medicare Part D prescription drug plan that provides coverage for medications and costs less than buying prescriptions separately.

Medicare supplement plans provide additional protection if there's an item or service not covered by Original Medicare (like hearing aids). Depending on where you live, other policies may provide similar benefits to Medigap insurance but don't have the same restrictions or limitations as regular supplemental policies. Medigap plans are not required by law and can only be offered in certain areas of the country depending on state laws—but since they're voluntary, some people choose them over other types of supplemental coverage simply because they're cheaper!



There are many benefits to getting health insurance through Medicare, no matter what stage of life you're in.

Medicare is a government health insurance program for people over 65, people with disabilities, and people who need long-term care. Medicare has four parts: Part A (hospital insurance), Part B (medical insurance), Part D (prescription drug coverage), and Part C (Medicare Advantage).

The most important thing to remember about Medicare is that it provides health benefits to millions of Americans who have reached the age of 65 or who have qualified for disability benefits because they are unable to work.


Conclusion

Medicare is a great way to get health insurance, especially if you're older or have had some sort of disability. There are many benefits to getting health insurance through Medicare, no matter what stage of life you're in.


Medicare is a federal program that provides healthcare coverage to individuals 65 years or older. Original Medicare coverage is broken into two parts - Part A and Part B - and is accepted by nearly every doctor and hospital in the country. Medicare Part A covers inpatient or hospital stays, while Part B covers outpatient or medical care. Parts A and B cover about 80% of seniors' typical healthcare costs. This leaves a few significant gaps in coverage. Medicare Supplement (Medigap) and Medicare Advantage plans are policies designed to help extend coverage, lessen expenses and ultimately give beneficiaries peace of mind. If you or someone you know would like more information about how to enroll in Original Medicare or one of the Medicare Advantage plans, call now to speak with a licensed agent (208) 818 2523. We cannot wait to help you learn about your options.

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