Medicare is the United States' federal health insurance program. Designed for seniors and those living with disabilities.  However, because a government agency runs it, it can be challenging to navigate through the Medicare insurance process. Below are answers to frequently asked questions on the subject. 

What to Know About Medicare Insurance

How does Medicare insurance work?

Unlike many other health plans, Original Medicare does not have a provider network. You can use any care provider who accepts the insurance, and there are nearly a million of these across the country. Medicare Part B covers doctor visits and routine care, while Part A covers hospital, skilled and hospice care. You can also purchase stand-alone Prescription Drug Plans to provide prescription drug coverage.  Although Part D is not mandatory, if you do not enroll during your Initial Election Period (IEP), you could be subject to a lifelong financial penalty.

Who is eligible for Medicare insurance?

Coverage is available for people 65 and over and those living with a permanent disability. It is also available to people with end-stage renal disease who require either dialysis or a kidney transplant. Participants must be a U.S. citizen or a legal resident of the country for at least five years.

Do you need to enroll?

If you are disabled and/or receiving Social Security, you will automatically receive your Medicare insurance card three months before your 65th birthday. All others must enroll on the Social Security website.  You can enroll during a three month window before your birthday month, during your birthday month, or three months after your 65th birthday. 

What is not covered?

Medicare Part B covers only 80% of outpatient care and requires you to pay a deductible.  The 20% that you are responsible for is not capped either and could expose you to some high costs.   Part B does not include voluntary cosmetic surgery, long-term care in a senior facility or at-home care. Part A also has deductibles.  You can help supplement these costs with Medicare Supplements or Medicare Advantage Plans.  

To sign up for Medicare Supplements, Medicare Advantage or Prescription Drug Plans, contact Hovis & Associates, an experienced Medicare consulting service in MO. They are family-owned and -operated and have served clients in and around Eastern Missouri since 1984. They also offer expert financial planning to ensure that you have peace of mind regardless of your circumstances. Visit their website to connect with them online or call (800) 411-0737 today to discuss your policy with a friendly, helpful Medicare agent.