Medicare And Medicaid Plans

Medicare is America's health insurance program for citizens or permanent residents age 65 or older. Some patients younger than age 65 can also qualify for Medicare, including those who have disabilities and those who have permanent kidney failure or amyotrophic lateral sclerosis (Lou Gehrig’s disease). Medicare helps pay for the cost of health care, but it does not cover all medical expenses or the cost of most long-term care.

The program is financed by a portion of the payroll taxes paid by workers and their employers, as well as monthly premiums deducted from Social Security checks. The Medicare program is run by The Centers for Medicare & Medicaid Services.

Medicare has four parts. Part A is hospital insurance which helps pay for inpatient services in a hospital, nursing facility or hospice, and some forms of home health care. Part B helps cover doctors’ services and many other medical services and supplies not covered by hospital insurance. Part C, or Medicare Advantage, allows patients to receive all of their health care services through one of the provider organizations listed under Part C. Part D is prescription drug coverage.

Medicare and Medicaid are two different programs. Medicaid is a state-run program providing hospital and medical coverage for low-income residents, and each state has its own eligibility rules and coverage benefits. Some people qualify for both programs. Information about the Medicaid program is available from local medical assistance agencies, social services or welfare offices.

Considering the high cost of medical care, Medicare provides patients with great financial savings. An average monthly premium of approximately $32 offers two levels of coverage, standard and catastrophic. After a $250 deductible, Medicare pays 75% of the cost of covered medications up to a yearly cost of $2,250. There is extra help for people with limited income and resources. Approximately one third of people with Medicare coverage will qualify for extra help and Medicare will pay for almost all of their prescription drug costs.

Once yearly out-of-pocket prescription costs exceed $3,600, which often happens in the event of serious health problems such as AIDS, cancer or heart disease , catastrophic coverage takes effect and Medicare covers up to 95% of the remaining drug charges for the rest of the year. Many health plans will offer more coverage, smaller deductibles or premiums lower than $32. Most patients with limited income and resources will pay only a few dollars for each prescription.

By: Frank Vanderlugt

Medigap Insurance Fills Holes Left By Medicare

We already know that health insurance should help us out when it comes to medical expenses. A lot of people will require more medical attention than others, especially those men and women who have reached a certain age. With this, it is important to have a back up plan in case medical help will be needed. Medicare is one such example of the insurance that aims to cover for expenses as necessary.

Medicare was enacted by the US government in the 1960’s as a means of providing medical benefits and support for retirees, or those who are above the age of 65. Medicare has certain provisions of which medical treatments are to be covered, such as hospital stays, x-rays, tests, medications, and others. There are specific parts in which the benefits are explained in detail. However, because Medicare is provided by the government, it can have some imposed limits as to what can be covered, so as a lot more people can be taken care of.

Because of some limitations of the Medicare insurance program, private insurance companies in the United States offer these Medicare clients an alternative, and that is Medigap insurance. Just as the name implies, Medigap bridges the gaps in the coverage which Medicare can not take care of, due to certain limitations.

Medigap is only made available to current policy holders of Medicare. They may apply three months before and three months after their 65th birthday, with not medical check up needed. Also, the insurer must be enrolled in Medicare Part A and B in order to be eligible for Medigap. There are also some private companies that give their retiring employees Medigap insurance. The terms and conditions for the sale and purchase of Medigap is different in each state.

Medigap benefits are labeled A to L, with each package covering only specific aspects of medical treatments that an insurer might need. Some examples are for hospital stays, physician fees, foreign travel emergencies, preventive care, prescription drugs, skilled care, and others. You may look at several other websites that can provide more detailed information about Medicare and Medigap as insurance options for people ages 65 and older.

Your Medigap policy generally fits together with Medicare Part A and Part B. You still have to pay the premiums for Medicare Part B, Medigap does not replace that, it’s in addition to it. The premium for Medigap is paid directly to the insurance company. Also, please be aware that your Medigap policy is not going to cover your spouse, each of you will need to have separate coverage with individual Medigap policies.

Comparing Medigap insurance policies is easy. Each insurance company must include standardized benefits allowing the purchaser to compare related items in the policy and be able to identify the best deal at a glance. Web services such as InsuranceDesk.com make it easy for you to compare costs among numerous insurance companies. When you enter your information, you will receive quotes from several local insurance agents, allowing you to simply choose the best plan at the best price.

By: Earl Cronin

Life Insurance Toronto | Medical Insurance Policy For Students Going Abroad

In many countries due to lack of infrastructure, lots of students decide to pursue their higher studies overseas in another country thinking that would bring benefit to their educational career and it will add a great deal to their life experience as well. But one important factor that needs to be taken care of is that about the medical emergency that may arise in a foreign country. What will you do if you fall ill or meet with an accident. It is therefore necessary for every student to go for a medical insurance before you even board a airplane.

Since the number of students is increasing on a daily basis, there are many insurance companies who are selling medical insurance for students who are traveling abroad. If the student is covered under the same insurance policy in which their parents is then it is advisable for the parents to inquire about travelling insurance. This might give a family the best value for money to get a top up for the medical insurance for students who are studying in another country. If the student is paying for his own insurance then they should check out with his insurance provider. Many companies recognize that the need for a medical insurance for students who study in foreign land and they have a special policy providing insurance to such students and have special insurance policy focused just on those circumstances. One good way of getting more information about the insurance is the financial department of the school where they are enrolling themselves. There are people in this department who have ample knowledge in this field and they can definitely guide you. In some cases certain insurance carriers provide medical insurance for students of a particular school at a discounted rate. This also includes travel insurance.

Many companies have specialized themselves in offering the medical insurance to students. And because of this they are offering medical insurance to students at a competitive rate. They are also offering their services online; all you have to do is to get yourself educated by login on to the internet and taking a complete knowledge of it. The important points to know are what are the plans that these medical insurance companies are offering? It is important to know and to have basic coverage like a visit to a doctor or a hospital stay. Although one can say that no one likes to consider the possibility of getting ill in a foreign land, but you cannot take chances and you have to be prepared for any untoward thing that may happen.

If the student who is visiting foreign land and is already having a pre-existing medical condition, then he should do even more study, that’s because there are some companies who provide cover for your pre-existing medical complications that you may have. Of course the premium would be slightly higher than the normal one but it still worth it. That’s because it gives you the benefit even if you have to do frequent visits to a doctor. Any student who wants to embark on an educational experience outside the borders of their native land should strongly consider getting medical insurance for students. It allows the student to focus completely on what’s important, that is their education.

By: Angela Dalton

Aarp Life Insurance And Medicare Insurance: An Overview

The American Association of Retired Persons (AARP) boasts a membership of over thirty five million people aged fifty years and older. The massive non-profit organization is recognized as a political advocacy powerhouse whose influence seems to grow along with the "graying" of America. AARP, however, does not limit itself exclusively to legislative lobbying for its membership demographic; it also (in conjunction with established companies) provides insurance opportunities to its members. Two of these products include AARP life insurance and AARP Medicare health insurance.

*AARP Life Insurance

For well over ten years, AARP has been offering whole and term life insurance policies to its members in association with the New York Life. The AARP life insurance program offers plans featuring premiums touted as "affordable" that are specifically designed for people age fifty and older. Coverage amounts vary, with policies being available with benefits ranging from only a few thousands of dollars to fifty thousand dollars.

AARP life insurance is available to any AARP member between the ages of fifty and eighty. Spouses of AARP members may also receive coverage, so long as they are forty-five years of age or older. AARP life insurance does not require a medical exam. According to AARP, approval is based on answers to "three simple health questions." Policies can be applied for via mail and the program touts the ease of application and approval as two of its strengths.

*AARP Medicare Insurance

AARP offers a health insurance policy designed to supplement the coverage provided by Medicare. This "Medicare Supplement Insurance" is offered in association with United HealthCare Insurance Company. Premised on the notion that Medicare generally covers slightly more than half of an individual's health care expenses, AARP's Medicare health insurance plan seeks to provide a means by which to cover costs such as co-insurance, deductibles and prescription medications.

AARP's Medicare health insurance program allows members to continue utilization of their own physicians and is promoted with a focus on its ease of use, as well as its coverage. For instance, AARP members using this supplementary insurance plans are not required to fill out claim forms and the coverage is valid across the U.S., making it available for use when traveling and in other similar circumstances. According to AARP, rates for this insurance product are not increased based on age alone. Individuals are not to be "singled out" for rate increases, either. Rate changes are applied to all members of a matching class insured under the plan and residing in the same state.

AARP is one of America's largest organizations and is one of its most politically powerful. In addition to using its membership to wield political clout, AARP has also used its massive membership as a group for insurance purposes. Teaming up with established providers like New York Life and United HealthCare, AARP offers its members insurance packages ranging from AARP life insurance to AARP Medicare supplementary health insurance.

By: Evan Davis

Overview to Help Understand Your Application For Medicare Insurance

Are you nearing retirement, but unsure of how to obtain or fill out a Medicare application? Do you know where to go to get Medicare information? Do you know if you're even eligible for Medicare? To find out how to apply for Medicare and who is eligible, read on.

If You Already Receive Social Security Benefits

If you're over the age of 65 and receiving regular Social Security benefits, you should already be enrolled in Medicare and don't have to do anything else. By registering for your Social Security, you also registered for Parts A and B of Medicare at the same time. There is no need to fill out an additional Medicare application.

Medicare should begin the month you turn 65. For example, if your 65th birthday is on October 15, 2009, your Medicare eligibility will begin on October 01, 2009. Once you apply for your Social Security, your Medicare card will be mailed to you several months before your 65th birthday. If you wish to opt out of Medicare Part B, simply return the card.

Applying for Social Security and Medicare at the Same Time

If you're coming up on 65 but have yet to apply for Social Security and Medicare, you should do so at least three to four months before your 65th birthday. Applying for Social Security will automatically register you for Medicare. Failure to apply on time could result in your benefits being delayed.

Eligibility for Medicare

Generally, most people are eligible for Medicare - as long as you or your spouse worked for a minimum of 10 years with a Medicare-covered employer (most employment scenarios are eligible), are over the age of 65 and currently a resident in the United States. Those with certain types of long-term illness or a disability may also qualify for Medicare.

The Social Security and Medicare Application Process

To apply for Medicare and Social Security, visit a local Social Security Office or call the Social Security Administration at 1-800-772-1213. You can also fill out an application online at their website, which can be found at socialsecurity.gov.

To be eligible for an online application, you must prove your identity by answering a series of questions. You will also be required to prove your eligibility - you should be at least 61 years and 9 months old, you must be planning to start your Social Security benefits within the next 4 months, you must live in the United States and you must be willing to receive your Social Security benefits through direct deposit.

Applying for Medicare, but not Social Security

Many people assume that if they do not already receive Social Security benefits, they do now qualify for Medicare. This is not the case.

If you do not receive Social Security or do not plan to receive the benefits, you can still obtain Medicare. To do so, you must fill out a separate Medicare application. You can do so by calling the Social Security Administration at 1-800-772-1213 or visiting a local Social Security office.

By: Trevor Price