Medicare Program and Its Benefit to the American People

Every American employee have the Medicare tax deducted by their employer as required by the law. It helps in that when one becomes eligible for Medicare, he or she will automatically receive this medical insurance. Since its implementation in 1965, Medicare has seen a lot of changes. However, it remained true to its foundation which is to provide health insurance for the elderly and those with certain disabilities.

To understand better, this is a program that aims to provide health insurance for the aged in the united states once they retire or a declared unfit to continue working. One thing you also need to know is that it is not an automatic program that when you turn 65 it takes effect as you will need to enroll. The other crucial thing to know is that you will need to make monthly premiums even after getting enrolled. Another thing is that there is a penalty when you enroll late than it is scheduled hence the need to be time conscious.

When you turn 65 years of age or you have certain disabilities, there is the need to know that you qualify for the medical coverage or what is known as Medicare Part B. There is a Part A which is different from part be and usually attracts its own cost different from those of part B. The time frame that is given for enrollment purposes is usually 7 months. With the first part, you need to start enrolling 3 months before you are sixty-five and the next three when you have already retired. Failure to enroll in that timeframe usually attracts a penalty. Click here for more details.

After you have enrolled, there is a Medicare open enrollment that usually begins on a specific day of October and ends on a given day in December. It is during this time that one has a chance to choose a different plan without the need of Medicare Special Enrollment Period. You can decide whether you want a separate Part A, B and D plan which includes drug medication coverage or and an all-inclusive Medicare Advantage Plan.

When you have qualified for Medicare, it is also important to know that you are also eligible to the Medicaid program too. If you want to add on to your Medicare advantage joining the dual enrollment program as it is known will mean more health benefit for you. The other thing that you need to understand is that you can retire, get the Medicare coverage and still work so long as you make up to a given income. Know more about this product.

There is the need to work closely with an informed person to help you understand Medicare plans before choosing one.

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