Why Get Medicare Health Coverage?
If you are at least 64 years and 8 months old or a person with a disability, you can apply for Medicare health coverage. Under Medicare, you will have hospital insurance and medical insurance, however in most cases Medicare does not provide 100% coverage. Therefore, why should you get Medicare health coverage?
Applying for Medicare is simple: It only takes 10-15 minutes to apply for Medicare on the government's Medicare website. As long as you live in the United States and do not wish to sign up for Social Security at the time, are the qualifying age or a person with a disability, you will be approved. You will receive your Medicare card in the mail as soon as the application is approved.
Medicare can be used with your current health coverage: Even if you are working and have health coverage from your company, you can still use Medicare Part A to help cover some costs. Part A is used to cover hospital costs. You still may be able to sign up for Part B, however you may have to pay a premium. To find out what you qualify for, you can speak with your company's insurance administrator.
Medicare saves you money: Even though you are not completely covered 100% with Medicare alone, it will save you the cost of paying high premiums if you had stand-alone health coverage insurance. Job related health insurance averages over $5,000 a year, therefore getting insurance on your own, if you are not working can double and triple those amounts. When you get Part A and Part B medical insurance, you may be covered up to 80% a year. Premiums with Medicare tend to average around $3,000 a year depending on the plans that you opt in.
Medicare offers prescription drug programs: Prescription drugs can be costly. Medicare Part D offers a prescription drug program. Anyone who is eligible for Part A or Part B will be eligible for Part D. The Plan will choose which drugs they cover and excludes three types of drugs from their program, which are cough suppressants, barbituates and benzodiazepines.
Verbiage on these plans can be tricky and there are many options available. You want to make sure you have the appropriate coverage you need. For additional information on Medicare plans and benefits, please call the Social Security Administration at 1-800-MEDICARE.