Have Questions About Medicare?

The Benefits Review Process:

As a current or future Medicare recipient, you want to avoid penalties and secure the lowest costs for your coverages and out of pocket expenses. Married couples face dozens of different enrollment combinations.

These combinations can overlook exceptionally important considerations:

• What is the difference between Medicare Parts A, B, C and D

  The health insurance under Medicare is covered in four parts i.e. A, B, C and D. Whereas Medicare Part A and Part B are referred to as Original Medicare Part C is termed as Medicare Advantage and Medicare Part D is also known as Prescription Drug Coverage.

  Thus, basically, Medicare Part A B C and D cover different fields of health benefits.

• What does each part cover and what will the costs be for my family?

  Medicare Part A covers the hospital care, nursing services, hospice and home health care to inpatients.

  Medicare Part B covers preventive care, doctor checkups, physical and occupational therapies, and home health care to outpatients.

  Medicare Part C ensures insurance benefits under a comprehensive plan which comprises of both Medicare Part A and Medicare Part B. Under Part A it covers the hospital insurance and under Part B it covers medical insurance.

  Medicare Part D revolves around the benefits of prescription drugs. It helps cover the cost of the drugs along with covering the fluctuations in the prices of the drugs. It may be combined with a medical advantage plan or taken separately.

  The cost of Medicare depends on the number of members in the family. With each person added to the plan, the cost also increases proportionately. Under Medicare, if your family has more than three children under the age of 21 then premiums will have to be paid only for the three oldest. Else, the number of members in the family, the higher will be the premium accordingly.

• How do I know if I should stay in “Original Medicare” or join “Medicare Advantage?”

  Medicare Part A and Medicare Part B are called Original Medicare plans whereas Medicare Part C is termed as Medicare Advantage plan. To determine whether to stay in the Original Medicare Plan or to join Medicare Advantage Plan it is essential to consider a few vital factors such as your health, your budget and your financial aspect. If you have any medical needs which may require additional coverage or both hospital and medical coverage then joining a Medicare Advantage plan would be advisable.

• What happens if I’m currently receiving Social Security benefits? Will they be affected?

  No, Social Security Benefits will not be affected if when you take a Medicare plan. You will keep receiving Social Security Benefit checks but if you are more than 65 you automatically get enrolled for Medicare Part A and B and only your premiums are deducted from the social security benefits in an automated manner.

• How can I be sure I won’t be paying penalties?

  To be sure that you won’t have to pay any penalty it is essential that you enroll for Medicare Health Insurance within the enrollment period as soon as you become eligible for it. Otherwise penalties under each part of Medicare may be incurred.