At the age of sixty-two or sixty-five, senior citizens can retire and receive Social Security. The insurance coverage Medicare provides has certain limitations. It does not cover all health care needs. Usually, as a Charlotte Insurance Broker can explain more clearly, the company offering the Supplemental policy sets its own payment and benefits amounts.
The first fact is that each person must have Medicare Part A and Part B. Each month a premium for part B must be paid. Many people have it automatically deducted from their Social Security benefits for convenience rather than having to write a check and mail it.
In addition to paying for Part B, any premium for a supplemental policy must be paid to the company selling that policy. It can also be taken out of the monthly check for convenience. This supplemental policy will pay part or all of the twenty percent not covered by Medicare.
However, what is covered and what is not can be decided by the company that is providing that additional insurance. The plan may be referred to as a Medicare Advantage Plan, which is like an HMO. Many include the Medicare Prescription Drug coverage in the HMO.
One requirement that may not be obvious to every senior is that you should not fail to carry prescription drug coverage. If you do, or if it is delayed more than 63 days, there will be a late enrollment penalty imposed on you when you enroll in a new Medicare drug plan.
Each person should shop around and investigate prices. Each plan may offer something beneficial to him that other policies do not. It all depends on whether you may need surgery. It also depends on the likelihood of you needing long-term care in a rehabilitation facility. There may be features such as home care in one policy but not another.
The first fact is that each person must have Medicare Part A and Part B. Each month a premium for part B must be paid. Many people have it automatically deducted from their Social Security benefits for convenience rather than having to write a check and mail it.
In addition to paying for Part B, any premium for a supplemental policy must be paid to the company selling that policy. It can also be taken out of the monthly check for convenience. This supplemental policy will pay part or all of the twenty percent not covered by Medicare.
However, what is covered and what is not can be decided by the company that is providing that additional insurance. The plan may be referred to as a Medicare Advantage Plan, which is like an HMO. Many include the Medicare Prescription Drug coverage in the HMO.
One requirement that may not be obvious to every senior is that you should not fail to carry prescription drug coverage. If you do, or if it is delayed more than 63 days, there will be a late enrollment penalty imposed on you when you enroll in a new Medicare drug plan.
Each person should shop around and investigate prices. Each plan may offer something beneficial to him that other policies do not. It all depends on whether you may need surgery. It also depends on the likelihood of you needing long-term care in a rehabilitation facility. There may be features such as home care in one policy but not another.
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Find a summary of the advantages of using the services of a Charlotte insurance broker and more info about a reputable broker at http://www.thejordaninsuranceagency.com now.
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