What is Medicare
The basics for Medicare are simple. Medicare is for people that are 65 years old or older, and for people who have been disabled for over 24 months. Once signed up for a specific Medicare package, a red, white, or blue card will come in the mail. This signifies that you are eligible for parts A and B of the package. Your cards give you access to the different benefits of Medicare.
Part A Medicare basics
Part A only covers your hospital visits. Eligibility for free part A coverage is only valid if the patient has worked 40 quarters or more. If the patient has been hospitalized, you will pay a deductible of $1,364. This is only good for 60 days. If hospitalized for longer than 60 days, the patient will be responsible to pay another deductible of $1,364. This is very expensive and non-affordable for most people.
Part B Medicare basics
Part B is the other part of Medicare. There is a $135 monthly deductible linked to part B coverage. This cost only covers medical expenses. A few medical expenses part B covers include, MRI’s, CT scans, lab work, and doctor visits. After paying the deductible of $135, patients will also be responsible for 20 percent of the total bill. For example, if the patient goes to the doctor’s office gets and gets billed $2,000 for an MRI, they would be responsible for the $135 monthly deductible and 20 percent of the $2000 bill. This comes to a grand total of $335 that the patient is responsible for in out of pocket dues.
Medicare basics review
Medicare does not cover everything. The patient will be unprotected and responsible for some out of pocket expenses. For people eligible for 24 months of disability and qualified for Medicare, social security administration will automatically enroll you in part A and B of Medicare free of charge. These people will automatically receive the correct card in the mail once the 24-month disability is passed. These are the basics of Medicare. If anything you read or saw here is confusing, please call the number below for guidance.
Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions. So if you have any questions or concerns, comment below and your question may be the topic of our next video!
Get affordable Med sup insurance quotes by clicking here.