Wednesday, 2 January 2019

Some Common Medicare Questions Answered

By Brian Turner


As seniors get close to the age they can retire, they begin to take stock of the assets they are going to have. The majority understand how Social Security works and know it will be there to supplement their income. Many are less sure about their health benefits, and what the government will and won't do for them once they reach sixty-five. In order to make informed, responsible decisions in regard to their health, seniors need to have Medicare questions answered.

Seniors want to know when they can enroll. You can sign up for your benefits anywhere from three months before you turn sixty-five to three months after you turn sixty-five. That includes the month of your birthday as well. If you're already receiving Social Security, you don't have to do anything. You'll be signed up automatically for Parts A and B on the first day of the month you turn sixty-five.

Seniors who are looking ahead want to know if the program pays for long term care. It really does not. It won't help you when you need assistance with daily activities or custodial care if that is the only type of care you need.

What is will pay for is long term care in a hospital and some nursing care in a qualifying facility. Your benefits will pay for certain home health services, hospice, and respite care. For more information about nursing home care, you should visit the government's website.

What the benefits are for choosing Advantages Plans over Part A and B is confusing to seniors. If you take prescription drugs, you might want to consider an Advantage Plan that pays for them. Medicare won't. Advantage Plans have an out of pocket cap. After you have spent sixty-seven hundred dollars in a year, your Advantage Plan kicks in. If you are interested in vision and dental coverage, you will need an Advantage Plan.

The difference between HMOs and PPOs is a mystery to most. Health Maintenance Organization plans, HMOs, won't cost you as much for out of pocket expenses. This is a big reasons seniors choose them. The drawback for many is that you're required to use a doctor in the plans network of physicians. Many HMO plans include prescription drugs.

Preferred Provider Organization plans, or PPOs, allow the senior to choose any physician who accepts Medicare. These plans don't require you to stay inside their network. This is a big plus for retirees who have a doctor they trust, but who isn't in the PPOs network. The monthly premiums are higher with PPOs. If you decide to go outside the network for a physician, it could cost more. Prescription drugs are covered.

Seniors want to know about the difference in supplemental and Medigap plans. Most of the difference comes from the carrier you choose. Each lettered plan has the same coverage no matter which carrier you choose or where you live. The price will vary according to the carrier.




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