In this time of our lives, we need to have medical insurance. We would be devastated if we had a medical emergency and no insurance to help pay those expenses. Costs for hospitals, surgeries, medical tests and physicians can be overwhelming when you, the patient, need to concentrate on getting well.
The cost of medical insurance can cost a great deal and dwindle your monthly budget. For seniors, there is Medicare insurance. This will depend on how many years a person works and the taxes you’ve paid into Medicare. Those with disabilities will benefit from Medicaid.
Available to senior citizens is Medicare Part A which takes care of health care facility costs and Medicare Part B which takes care of physician visits and medical tests one may need. Medicare Part D will help with prescription drugs.
Also available is a Medicare Advantage plan that includes Medicare Part A, Medicare Part B and Medicare Part C which covers prescription drugs. The Medicare Advantage plan will also cover some vision, dental, and hearing tests. medicare advantage plans for 2019 can be quoted on https://www.medicareadvantageplans2019.org
If you join Medicare Part A there will be some circumstances one will have to consider. First you will have had to pay Medicare insurance taxes which would be deducted from your paycheck. Paying Medicare taxes for less than 30 quarters the premium will remain at $422. If you paid more than 30 quarters your premium will be $232. This is available to those that have paid their Medicare taxes.
The premium for the Medicare Part B can go as high as $134 which will depend on one’s income. This amount can vary and change if one is collecting social security.
Medicare Part C, which is part of a Medicare Advantage plan has premiums that will depend on what one wishes to have covered. A Medicare Advantage plan covers different items than a Medicare Part D plan. These plans are standardized and will have different premiums depending on the private insurance company one chooses to go with. These insurance companies must carry all the Medicare plans, but they may charge premiums according to their area.
It is best for an individual to look carefully at all the Medicare plans available. They each will cover different medical issues and their costs will vary amongst them. One can get more information on Medicare and the insurance plans offered, by going to Medicare.gov. During the enrollment period, one may find various seminars in their community, dealing with Medicare plans, to help seniors understand what is available to their medical needs.