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IN: What Is Medicare And Who Is Eligible?

Dear Valued Customer,

In this issue of “—————–” we are focused on Medicare.

Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). According to the CMS, because of the aging population that continues to live longer, there are families in the U.S. who have three generations currently enrolled in Medicare – a fact that likely was not imagined by the original founders of the program.

Read on to understand about Medicare: who is eligible, enrollment information, The Affordable Care Act & Medicare, and more.

We appreciate your continued business and look forward to serving you.

Kind regards,

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What Is Medicare?

People_QuestionManMedicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

The different parts of Medicare help cover specific services:

Medicare Part A (Hospital Insurance)

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

Medicare Part B (Medical Insurance)

Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.

Medicare Part C (Medicare Advantage Plans)

A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan and aren’t paid for under Original Medicare. Most Medicare Advantage Plans offer prescription drug coverage.

Medicare Part D (prescription drug coverage)

Part D adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare. Medicare Advantage Plans may also offer prescription drug coverage that follows the same rules as Medicare Prescription Drug Plans.

Not sure what kind of coverage you have?

  1. Check your red, white, and blue Medicare card.
  2. Check all other insurance cards that you use. Call the phone number on the cards to get more information about the coverage.
  3. Check your Medicare health or drug plan enrollment.
  4. Call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.

Source: Medicare.gov, “What is Medicare?” http://www.medicare.gov. Accessed November 24, 2015. http://www.medicare.gov/sign-up-change-plans/decide-how-to-get-medicare/whats-medicare/what-is-medicare.html

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

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Determine Your Eligibility Or Calculate Your Premium

People_LovingSeniorCoupleUse this calculator to get an estimate of when you’re eligible for Medicare and your premium amount.

This calculator provides information for many but not all situations. If your situation isn’t in this calculator, contact Social Security– opens in a new window to see if you’re eligible to enroll.

Medicare is managed by the Centers for Medicare & Medicaid Services (CMS). Social Security works with CMS by enrolling people in Medicare.

We don’t store your information. We protect your privacy by getting rid of the information you give us when you close the browser.

To find out if you’re eligible and/or calculate your premium click here. 

 

Source: Medicare.gov, “Determine your eligibility or calculate your premium” http://www.medicare.gov. Accessed November 24, 2015. http://www.medicare.gov/eligibilitypremiumcalc/?version=default&browser=Firefox%257C3.5%257CWindows+Vista&language=English

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

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The Affordable Care Act & Medicare

Health-Wellness_HealthCareLawTop 5 things to know about the Affordable Care Act (ACA) if you have Medicare:

  1. Your Medicare coverage is protected.

    Medicare isn’t part of the Health Insurance Marketplace established by ACA, so you don’t have to replace your Medicare coverage with Marketplace coverage.  No matter how you get Medicare, whether through Original Medicare or a Medicare Advantage Plan, you’ll still have the same benefits and security you have now.

    You don’t need to do anything with the Marketplace during Open Enrollment.

  2. You get more preventive services, for less. Medicare now covers certain preventive services, like mammograms or colonoscopies, without charging you for the Part B coinsurance or deductible. You also can get a free yearly “Wellness” visit.
  3. You can save money on brand-name drugs. If you’re in the donut hole, you’ll also get a 50% discount when buying Part D-covered brand-name prescription drugs. The discount is applied automatically at the counter of your pharmacy—you don’t have to do anything to get it. The donut hole will be closed completely by 2020.
  4. Your doctor gets more support. With new initiatives to support care coordination, your doctor may get additional resources to make sure that your treatments are consistent.
  5. The ACA ensures the protection of Medicare for years to come.The life of the Medicare Trust fund will be extended to at least 2029—a 12-year extension due to reductions in waste, fraud and abuse, and Medicare costs, which will provide you with future savings on your premiums and coinsurance.

Source: Medicare.gov, “The Affordable Care Act & Medicare” http://www.medicare.gov. Accessed November 24, 2015. http://www.medicare.gov/about-us/affordable-care-act/affordable-care-act.html

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.