Medicare is a government-run healthcare program that offers seniors and most receiving Social Security Disability Insurance (SSDI) the chance to receive quality healthcare without a large cost to recipients.
A Review of Medicare Plan Choices Medicare is a government-run healthcare program that offers seniors and most receiving Social Security Disability Insurance (SSDI) the chance to receive quality healthcare without a large cost to recipients.
The Parts of Medicare <ul><li>Medicare Part A – Hospital Insurance </li></ul><ul><li>Medicare Part B – Medical Insurance </li></ul><ul><li>Medicare Part C – Medicare Advantage </li></ul><ul><li>Medicare Part D – Prescription Drug Plans </li></ul><ul><li>Also available - Medigap Supplemental Insurance </li></ul>
Medicare Part A Overview <ul><li>Medicare Part A covers inpatient hospital care, as well as convalescence stays in a skilled nursing facility, for up to 100 days per instance. The first 20 days of a stay in a skilled nursing facility are paid in full. The remaining 80 days require a co-pay, which is $133.50 per day in 2009. There is also a deductible of $1,068 in 2009 before Medicare will pay for Part A services. Part A does not cover unskilled care, such as help with bathing, dressing, cooking, cleaning, and eating. </li></ul><ul><li>Most people who get Medicare Part A will not pay a premium since most have paid Medicare taxes while working. If you haven’t worked enough to qualify for Medicare Part A, you still may be able to buy it. Also, many states have a program in place to provide help getting coverage. </li></ul>
Medicare Part B Overview <ul><li>Medicare Part B covers many services and products not included in Part A. This includes doctor's visits, laboratory tests, vaccinations, and other medical services not administered in a hospital, such as physical or occupational therapy. The plan also covers equipment such as walkers, canes, artificial limbs, and sometimes even eyeglasses. Prescription medications aren't included unless they are given during a doctor's visit. </li></ul><ul><li> </li></ul><ul><li>Medicare Part B isn't free. Most pay a monthly premium of $96.40 in 2009. Payment is typically taken directly out of a monthly Social Security, Railroad Retirement, or Civil Service Retirement payment. There is also an annual deductible, which is $135 for 2009. After the deductible is met, Medicare will pay 80% of the healthcare costs. </li></ul>
Medicare Part C Overview <ul><li>Medicare Part C is also known as Medicare Advantage. This type of Medicare is provided by private companies and can include HMOs, PPOs, private fee for service plans (PFFS), and Medicare special needs plans (SNPs). Medicare Advantage is entirely voluntary and some plans include Medicare Part D prescription drug coverage. </li></ul><ul><li>Many Medicare Advantage plans are available, so it’s important to review them carefully to make sure you’re getting the right coverage. </li></ul><ul><li>Medicare Advantage can offer recipients lower co-pays and extra benefits that traditional Medicare Part A and Part B does not offer. But, recipients may be required to use only certain doctors and may pay a monthly premium. </li></ul>
Medicare Part D Overview <ul><li>Medicare Part D is also known as prescription drug coverage and, like Medicare Advantage, is provided by private companies. Like Medicare Advantage, there can be many plans in a given area and the right one for you will depend on the medications you take on a regular basis. </li></ul><ul><li>Recipients pay a monthly premium which varies depending on location and other factors. There may also be an annual deductible, which can’t be any higher than $295 a year in 2009. Plans vary and can include either a co-pay (a flat rate) or co-insurance (a percentage of the cost of the drug). Most plans stop paying once the recipient's medications reach a certain level, typically around $2,700 and benefits don't start back up until the annual cost exceeds $4,350. </li></ul>
Medigap <ul><li>Medigap is supplemental insurance available to people with Medicare Part A and B and sometimes Part D. It is entirely voluntary and designed to cover any healthcare costs or “gaps” not covered by Medicare Part A and B, including co-pays and co-insurance. </li></ul><ul><li>These plans are offered by private insurance companies and come with a monthly premium. The cost can depend on the type of plan, your age, your location and the insurance company. There are 12 different plan types, named A through L in 2009. </li></ul><ul><li>Medicare recipients need to sign up for Medigap within the first six months of signing up for Medicare once they reach the age of 65. Be aware though: if the initial enrollment period is missed, coverage is not guaranteed and may cost more. </li></ul>
Choosing the Right Plan <ul><li>With so many different Medicare plans, it's no wonder people eligible for Medicare are confused. Instead of struggling to find the best Medicare plan, consider turning to Allsup and the Allsup Medicare Advisor® . This unique program helps people entitled to Medicare determine which plan is the right one for them. </li></ul>
Allsup Medicare Advisor® <ul><li>Allsup's Medicare experts can help. They will help you assess your healthcare and financial needs to make sure you get the right coverage at the right price. They’ll review your medications, healthcare requirements, preferred doctors, and your finances. After that, they'll make sure you understand the Medicare options available and give you a detailed report outlining which plans best meet your needs. Once you've decided on a plan, they can help you complete the required enrollment forms and make sure all your questions are answered. </li></ul>
Why Allsup? <ul><li>Allsup isn't an insurance company or a Medicare plan provider. The company is a nationwide provider of Social Security disability, Medicare, and workers' compensation services for individuals, employers, and insurance carriers. </li></ul><ul><li>Allsup has around 600 employees who work tirelessly to support seniors and people with disabilities to ensure they are as financially secure and healthy as possible. </li></ul><ul><li>The company celebrated its 25 th anniversary in 2009 and has helped more than 120,000 people receive the SSDI benefits they're entitled to. </li></ul>