Improving Quality of Seniors’ Lives
If you are a senior citizen or have been helping care for an elderly loved one, then you know how difficult it is to choose the right health insurance plan. There are so many options and they all seem to be too expensive. We will discuss Medicare Benefits as well as what is available through private insurers in order to help you make a decision that suits your needs best.
The first thing to understand is that Medicare is not just one plan. It is a group of plans, each with its own set of benefits and restrictions. The most important thing to consider when choosing a plan is what services you need and how much you are willing to spend on premiums.
There are four main parts to Medicare: Part A, which covers hospital stays; Part B, which covers doctor’s visits and other outpatient services; Part C, also known as Medicare Advantage, which includes all the benefits of Parts A and B plus some extras like vision or dental care; and Part D, which covers prescription drugs.
You can enroll in any combination of these parts depending on your needs. For example, if you only need coverage for prescriptions (Part D), then you can choose a plan that does not include the other parts.
Let’s take a closer look at each part of Medicare and what it offers:
Part A – covers hospital services, limited nursing home coverage for up to 100 days after hospitalization, hospice care, inpatient psychiatric treatment and some forms of home health care. Under Part A there are no premiums , but an annual deductible amount must be paid based on your income level as well as coinsurance fees which means you pay a percentage of all medical costs from 20-60%. The good news is this includes preventative tests like flu shots or mammograms! There is also something called copayments . This will require payment once stay depending on if the room is a private room or semi-private.
Part B – covers doctor’s visits, outpatient care including lab tests and x-rays, durable medical equipment like wheelchairs and walkers, and some home health care. There is usually a monthly premium for Part B (which varies based on income) as well as an annual deductible . After the deductible is met, you typically pay 20% of all costs up to a yearly maximum.
Part C – includes all the benefits of Parts A and B plus extras like vision or dental care. It can be purchased through Medicare Advantage plans offered by private insurers or through the government’s Medicare program. These plans have different premiums , deductibles and co-pays so it important to compare them before agreeing on one.