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Did you know that there are 44 million people enrolled in the Medicare program in the United States? If you are trying to learn more about how Medicare works, you are in the right place. We are going to share in further detail what is covered and what is not and when you are eligible.
Keep reading to learn the ins and outs about medicare
Who Is Eligible?
Medicare is for adults that are over the age of 65 that is either a United States Citizen or a legal permanent resident of a minimum of five years. If you are at the end stage of renal disease you can qualify if you do not meet the age requirement. You are also eligible with other health conditions such as Lou Gehrig’s disease.
What Is Covered?
There are two parts to Medicaid, Part A, and Part B. Part A covers hospital services, nursing facility care, and some home health care. Part B covers preventative screenings, lab tests, certain vaccines, doctor visits, medical services, and certain medical equipment.
Medicare will not cover things such as dentures, acupuncture, personal nursing, hearing aids, cosmetic surgery, routine dental care, vision care, or long term personal care. There are Medicare Supplement Advantage Plans that you can look into that will cover certain services that original Medicare will not pay for.
Can You Have Other Insurance?
You are allowed to have other insurance besides Medicaid to help cover things that Medicaid does not cover. You can have other benefits like TRICARE, veteran benefits, workers’ compensation, COBRA, etc.
If you have other insurance, Medicare will work with your other insurance company to coordinate who will pay first. The primary payer will pay for the medical bills first and then send the remaining balance to the secondary payer.
Are Prescription Medications Covered?
Part A and Part B both offer limited prescription medication coverage. Part A will cover prescription drugs for treatment during a covered skilled nursing facility stay or a covered inpatient hospital. Part B will cover certain medications that you get during an outpatient setting like a doctor’s office visit.
If you need other prescription drugs you will have to sign up for Medicare Part D and you will have to sign up for a Medicare Prescription Drug Plan. This is a stand-alone plan that will help cover certain drug costs. You will have a monthly premium for Medicare Part D and you will also have extra costs such as coinsurance, deductibles, and copayments.
Now You Know How Medicare Works
Hopefully, you now understand how medicare works. Keep in mind that the initial enrollment period starts three months before the month you turn 65 years old and it will last until the end of the third month after your birthday month. The initial enrollment period gives you a total of seven months.
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