Understanding Better the Medicare Program
Every American employee have the Medicare tax deducted by their employer as required by the law. It helps in that when one becomes eligible for Medicare, he or she will automatically receive this medical insurance. Since its implementation in 1965, Medicare has seen a lot of changes. However, it remained true to its foundation which is to provide health insurance for the elderly and those with certain disabilities.
To understand better, this is a program that aims to provide health insurance for the aged in the united states once they retire or a declared unfit to continue working. There is the need to know that one is needed to enroll for this program as it is not automatic. The other crucial thing to know is that you will need to make monthly premiums even after getting enrolled. Another thing is that there is a penalty when you enroll late than it is scheduled hence the need to be time conscious.
When you turn 65 years of age or you have certain disabilities, there is the need to know that you qualify for the medical coverage or what is known as Medicare Part B. The part A is the hospital coverage and is usually separate from the part B and has its own costs and coverage through the qualifications are all the same. When you are enrolling for the first time, there is usually a seven month period given to do so. It works in such a way that you enroll first during the six months before you reach 65 years and the others you continue after your sixty-fifth birthday. Failing to enroll for Part B during this time makes you a subject to late enrollment penalty the time you enroll.
After you have enrolled, there is a Medicare open enrollment that usually begins on a specific day of October and ends on a given day in December. It is during this time that one has a chance to choose a different plan without the need of Medicare Special Enrollment Period. You can decide whether you want a separate Part A, B and D plan which includes drug medication coverage or and an all-inclusive Medicare Advantage Plan.
It is important to know that you can qualify for Medicare and Medicaid altogether at the same time. If you want to add on to your Medicare advantage joining the dual enrollment program as it is known will mean more health benefit for you. Also, you need to understand that you can get Medicare and continue to work as long as you meet a certain income.
Getting a knowledgeable representative is advisable before you make a decision to choose a plan.