|
Medicare & You 2011 |
| Print | |
|
The Medicare & You 2011 is the Official U.S. government Medicare Handbook with important information about the following:
What's new
Medicare costs
What Medicare covers
Health and prescription drug plans
Your Medicare rights
What you need to know in 2011:
- Pay less for Preventive Services
- Durable Medical Equipment Suppliers
- New Yearly Wellness Exam
- New Dates to Change Plans
- Help in the Prescription Drug Coverage Gap
- Fighting Medicare Fraud
- Ways to Manage your Health Information Online
- What you pay for Medicare
Download the Medicare & You 2011 guide now.
|
|
|
Medigap (Medicare Supplement) Plans (A through N)
What is Medigap (Medicare Supplement)?
First, a clarification is in order. The terms "Medigap" and "Medicare Supplement" are used interchangeably. Both terms mean exactly the same thing. Because Medicare coverage has limitations, many people purchase supplemental insurance policies that are specifically designed to cover some of the gaps in the Original Medicare program. This supplemental insurance is provided by private health insurance companies, not the government, although it is typically called Medigap. In general, you will not need a Medigap policy if your Medicare coverage is through a Medicare Advantage plan or if you are covered by Medicaid. Specific income and resource requirements for Medicaid eligibility are determined by individual states. In either case, your Medicare Advantage plan or Medicaid generally fills the gaps in Medicare coverage. Additionally, you must have Medicare Part A and Part B to purchase a Medigap policy.
|
|
Read more...
|
|
Coverage Choices |
| Print | |
|
There are two main ways to get your Medicare coverage:
- Original Medicare (Parts A and B), or
- Medicare Advantage Plan (Part C)
TIP: You will automatically be placed in the Original Medicare program unless you enroll in a Medicare Advantage plan.
After you decide which method to obtain your basic Medicare benefits from, you need to decide if you need to add Prescription Drug coverage. Currently, most Medicare Advantage plans automatically include prescription drug coverage. However, this practice may be changing in future years as a result of the Affordable Care Act (ACA) of 2010. Currently, Medicare pays Medicare Advantage companies over $1,000 more per person per year than Original Medicare. These additional payments are paid for in part by increased premiums by all Medicare beneficiaries -- including the 77% of seniors not enrolled in a Medicare Advantage plan. The new law will be gradually eliminating these overpayments to Medicare Advantage insurance companies.
If you have selected a Medicare Advantage plan to obtain your Medicare benefits, you don't need and can't be sold a Medigap policy.
If you have selected Original Medicare, you need to decide if you should add supplemental coverage (Medigap or Medicare Supplement Insurance policy).
There are advantages and disadvantages to each coverage choice. Click here to see a chart showing the difference between a Medicare Advantage and a Medicare Supplement plan.
Citation: Medicare & You, cms.gov |
|
|
Medicare Premiums |
| Print | |
|
Medicare 2011 Premiums & Cost Sharing
Medicare Premiums for 2011
Part A (Hospital Insurance) Premium
NOTE: If you pay a late enrollment penalty, these amounts will be higher.
CAUTION: In most cases, if you choose to buy Part A, you must also have Part B and pay a monthly premium for both. If you have limited income and resources, your state may help you pay for Part A and or Part B.
|
|
Read more...
|
|
Other Insurance |
| Print | |
|
How Other Insurance Works with Medicare
Employer or Union Health Coverage
This is health coverage based on your, your spouse’s, or other family member’s current or former employment.
If you or your spouse (or family member if you’re disabled) is still working and you have coverage through an employer (including the Federal Employee Health Benefits Program) or union, contact your employer or union benefits administrator to find out how your insurance works with Medicare. It may be to your advantage to delay Part B enrollment. When the employment ends, three things happen:
- You may elect COBRA coverage, which continues your heath coverage through the employer’s plan (in most cases for only 18 months) and probably at a higher cost to you.
- You have 8 months to sign up for Part B without a penalty. This period will run whether or not you elect COBRA. If you elect COBRA, don’t wait until your COBRA ends to enroll in Part B. If you enroll in Part B after the 8 months, you may have to pay a penalty.
- When you sign up for Part B (and are age 65 or older), your Medigap Open Enrollment period begins.
|
|
Read more...
|
|
|
|
|
<< Start < Prev 1 2 Next > End >>
|
|
Page 1 of 2 |
Medicare Program
