Understanding Medicare Benefits
People pay into Medicare during their working career through their payroll taxes.
When you turn 65 and are eligible for Medicare, you may believe the coverage is free.
What Does Medicare Cover,
Medicare covers ophthalmologic costs such as cataract surgery. However, it doesn’t cover contact lenses, glasses, or routine eye checkups.
Medicare covers ear-related conditions.
Hearing aids or routine checkups are not covered under Medicare.
Medicare Advantage plans may offer vision, dental care, and gym membership.
Medicare Advantage plans offer dental coverage.
Medicare in Other Countries
Medicare Advantage plans in the United States do not cover any medical costs incurred outside the country.
There is a solution for frequent travelers.
Travel insurance policies provide this coverage, and you may also want to purchase medical evacuation insurance whenever you’re planning an adventure abroad.
Medicare Part B will cover foot examinations, and treatment provided it relates to nerve damage resulting from diabetes.
It also covers care for foot ailments and injuries such as heel spurs and hammertoe.
Medicare doesn’t pay for elective cosmetic surgery.
It will pay for cosmetic surgery to correct medical issues caused by accidents.
Nursing Home Care
Medicare covers limited rehab facility treatments.
Your coverage will cover the expenses if you’ve undergone a hip replacement and require inpatient physical therapy.
Long Term Care Insurance
Medicare ‘doesn’t pay for caregiving services. The purpose of Medicare is to pay for doctor and hospital services. Medicare will pay for short-term recovery services.
Owning a personal long-term care benefit will pay for care services because of activities of daily living issues whether you live at home, with friends or family, or transition to a care facility.
HMOs and Preventive Medicine
Health Maintenance Organization offer plans people a team of healthcare providers that agree to provide members with the services they need.
The program covers a diversity of preventive health services.
Members must select a PCP (primary care physician) to handle almost all their healthcare needs. Before visiting a specialist, you have to be referred by your PCP. HMO plans are diverse, but their out-of-pocket healthcare costs are usually lower. You may need to pay a deductible before beginning the coverage, and the copayments are also not expensive.
It’s the ideal alternative if you are looking for lower premiums or you need preventative care coverage such as immunizations and checkups.
How to Keep Your Doctor and Ensure Coverage
You want to work with a health provider with whom you are comfortable. For example, they could be more familiar with your medical history or just a physician you can trust and share your information openly. This is a significant concern for most seniors, but is it possible once you enroll in Medicare?
If your coverage is Medicare Part B, you are free to visit your preferred physician if they accept a Medicare assignment. So if your preferred healthcare provider falls in this category, you can easily stay with them. On the other hand, Medicare Part C allows you to keep your physician. However, this depends on your particular Medicare Advantage plan and whether your specialist is in the network of providers.
Choosing A Medicare Supplement
Medicare health insurance offers comprehensive coverage but doesn’t cover all healthcare costs.
You can fill the gaps in Part A and B of Medicare by owning a private supplemental insurance plan.
Information to evaluate a supplement plan for your healthcare needs:
• Evaluate available options – Medicare supplements are standardized and are used in any facility that accepts Medicare payments.
• You can choose from 10 currently available plans alphabetically from letters A to N.
• Choose between these three pricing categories: Attained age rated, Issue-age rated, and Community-rated.
• Talk to an insurance broker or medicare broker.
• When you become 65, you will be given seven months to enroll. The duration comprises three months before you celebrate your birthday, the entire birthday month, and an additional three months after your birthday.
• During this period, you are assured of health coverage without worries about medical underwriting.