When you reach 65, you want to be healthy and comfortable as much as possible but things happen. No one plans to get sick or hurt but you will need virginia medicare plans to ensure that you are carefully looked after in case of medical vulnerabilities. Medicare is a government program that provides health insurance for a specific group of people.
Having health insurance is critical to maintaining your health especially in treating illnesses and even accidents. Health insurance can also protect you from high medical costs and other unexpected costs. This is because you pay less for covered health care. It is time that you understand it more. Here are things that you need to know about Medicare plans:
Who is it for?
Medicare is for those who are more than 65 years of age. The healthcare coverage also includes those who are under 65 years old and receiving SSDI (Social Security Disability Insurance) for a particular amount of time. Lastly, Medicare covers those who are under 65 years old having ESRD (End-Stage Renal Disease).
Who runs the Medicare?
As mentioned above, Medicare is a government program that provides health insurance. It is administered by the CMS (Centers for Medicare & Medicaid Services), which is a federal agency. You have to know that it is funded together by the premiums you pay, taxes you pay on your income (the Social Security and Medicare taxes) and by the federal budget.
What are the different parts of Medicare?
Once you become eligible, you can choose to get your Medicare coverage. There are two ways to get your Medicare coverage – Original Medicare and Medicare Advantage Plan. There are others who choose to get additional coverage like the Medicare Supplement Insurance or the Medicare prescription drug coverage (Part D).
As for the Original Medicare, it includes Part A and B. Medicare Part A refers to the Hospital Insurance; it covers hospice care, care in a nursing facility and inpatient hospital stays. Medicare Part B, on the other hand, refers to Medical Insurance; it covers outpatient care, medical supplies, doctor’s services and preventive services.
The Medicare Advantage Plan (Part C) provides all Part A and B services typically covered by the Original Medicare. However, it has different restrictions, costs and even rules that can affect how and when you can receive care. If you have health coverage from your former or current employer when you become eligible, you may automatically be enrolled in Medicare Advantage Plan. You have the option to stay with this plan or shift to Original Medicare.
What is the difference between Medicare and Medicaid?
You have to be aware of the difference between the two. Medicaid is another government program, which provides health insurance. However, it is funded and run by the government in collaboration with states to cover people having limited incomes. In other words, this type of health insurance depends on the income level.
It is crucial that you understand your Medicare choices to pick coverage successfully. Remember that how you choose can significantly affect your care in the future. Ask questions if you are in doubt so you will be enlightened.