What is the difference between Medicare and Medicaid?
Medicare and Medicaid are both government health insurance programs. Medicare is a federally funded program primarily for adults 65 and over. Medicaid is a state-funded program for low-income individuals and families. It’s possible to be eligible for both Medicare and Medicaid, (known as “dual eligibility”) and they will work together to provide coverage at a…
Do I need to renew my Medicare coverage each year?
Medicare Parts A and B automatically renew annually. Since benefits, providers, drug formularies and cost sharing can change every year, it is advisable to check if there are any changes that will affect your out of pocket expenses annually.
Do I need anything else if I have Parts A and B?
Part A covers hospital insurance such as hospital care, skilled nursing facility care, short-term nursing home care, home health-care and hospice. Part B covers medical services and supplies that are needed as necessary according to patient’s health condition such as doctor visits, outpatient care, preventive services, ambulatory services, and durable medical equipment. Although…
When do my Medicare benefits start?
IEP: If you sign up for Part A and/or Part B, your coverage starts as noted below: If you sign up for Part A and/or Part B this month: Your coverage starts: The first 3 months prior to turning 65 The month you turned 65* The month you turn 65 1 month after you sign…
When can I change my Medicare if I don’t like my coverage?
If you choose to disenroll from Medicare Part A and/or B, you may receive a penalty when you reapply later on. If you have Original Medicare Parts A and B; you can add a Medicare Advantage (Part C), Medicare Prescription Drug (Part D) or a Medicare Supplement (Medigap) during specific enrollment periods. Below are some…
What are the differences between Medicare HMO’s and PPO’s?
Medicare Advantage plans have the option to apply for PPO’s or HMO’s. It is common for HMOs and PPOs to have prescription drug coverage included through these types of MAPD plans. In PPO plans, you are not required to use in-network providers nor need a referral to see a specialist. You don’t need to choose…
What’s better: Medicare Advantage Plans or Medigap Plans?
Medicare Advantage Plans (MAs) usually cost less in up front premium than Medigap Plans. MA plans may include additional benefits like dental, hearing, vision, transportation, foreign travel and other benefits that Original Medicare does not cover. Some MAs limit the use of Medicare covered services with in-network doctors or facilities. MAs may require referrals to…
What’s better: Original Medicare or Medicare Advantage plans?
Original Medicare covers only Parts A and B. There is no limit on your out-of-pocket expenses. It doesn’t cover medical services outside of the U.S., even in emergency situations. It generally covers medical services with any doctor or facility that accepts Medicare assignments. No referrals are required to visit providers nationwide. It does not include…
Will Medicare cover me if I travel outside the country?
Original Medicare does not cover you when traveling outside the country, and Medicare Advantage Plans may or may not provide coverage for services outside the country. But some Medigap plans cover you in emergency situations when traveling outside the country with plans such as Plan C, D, F, G, M, N.
What is the Silver Sneakers program?
This is the program designed for people 65 or older to participate in a health and fitness program. Members are given access to 15,000+ gyms and fitness locations across the nation. Although Original Medicare doesn’t include this program; some Medigap and Medicare Advantage Plans may include this popular program.