A Guide to Medicare Plans for Seniors

You can read yourself through our guide about Medicare Plans and find out which services will be covered to help you save money & take care of your health!

Medicare Plans for Seniors

Healthcare is an essential part of life. People get sick or have other medical emergencies, and most procedures are so expensive that an individual typically can’t pay for them on their own. This is especially true for senior citizens. This is because they oftentimes have more doctors’ appointments than younger people. It’s also true because older people tend to require more medical care when they become ill than younger people do.

Luckily there are healthcare plans out there specifically for senior citizens. Some of them require a cost, but many of them may be fully covered. Of course, the specifics in terms of pricing will depend on a few things such as income and perhaps current health condition or location. However, there is something for practically every senior citizen in the US.

This article will present information regarding medical plans for seniors from Medicare, Blue Cross, and United Healthcare. We will discuss what types of services they cover as well as how you or your loved one can qualify and enroll in these plans.

What is Medicare?

The first thing many people consider when thinking about healthcare plans for senior citizens is Medicare. However, not many people understand what Medicare is. According to medicare.gov, it is a health insurance program sponsored by the federal government for individuals who are 65 years of age or older. There are also certain other groups of people who can qualify for it, but it is mostly for the elderly.

Medicare is divided into three parts. There is part A, which is hospital insurance. This means that it covers a wealth of issues that may arise. The insured can receive help with things such as time in a nursing home or assisted care facility, it can help with the costs associated with hospice care, and many other needs seniors may have. Part b is the medical insurance. It takes care of certain doctor’s services, it helps pay for outpatient care, many important medica supplies such as needles and syringes, as well as preventative care services. Finally, there is part D, which helps cover the cost of prescription drugs, which is a major cost for many senior citizens. These medications are often expensive and older people are often taking more than one drug at a time. This includes some recommended shots and vaccines.

Many people have questions about what the patient pays out of pocket when it comes to Medicare. Some of it depends on if your tax history while on the work force. This is particularly true with Part A because there is a thing called premium-free Part A. This is when a person does not have to pay a recurring cost for the services included in part A because of their Medicare tax history.

However, if you do not qualify for premium-free Part A, you can buy it. This will cost up to $471 each month. People who paid Medicare taxes for less than 30 quarters, can expect to pay $458 for Part A of Medicare. The people who paid for 30-39 quarters can expect to pay $259 for the services.

Just about everyone who uses Part B of Medicare will pay for it. The standard cost for this is $148.50 as of 2021. However, if your income reported to the IRS from 2 years before trying to get insurance is higher than a certain amount, you will also pay an Income Related Monthly Adjustment Amount. This is essentially an extra charge added to your premium.

Part D of Medicare pays for prescription drugs. This will require the person to join a Medicare-approved plan that offers drug coverage.

So how does Medicare work? For original Medicare, you pay a deductible at the beginning of each year. Then, at the time of the service, you typically pay 20% of the cost for the Medicare-approved procedure. This will pay for most of your needs but not all. Some people may even be approved for a Medicare Supplement Insurance policy.

Besides original Medicare, there is also Medicare Advantage. This is basically when a person has a Medicare-approved plan from a private company. They usually offer extra benefits like hearing, vision, and dental services.

What about Blue Cross and United Health Care

Everyone has heard of Blue Cross. They are one of the most well-known insurance companies. They work with Medicare, particularly when it comes to providing extra services. They offer 5 Medicare supplement plans to address various needs. People who go their Plan A are typically more focused on staying within a budget. It helps with things such as hospice care as well as paying for additional days of care in a hospital.

Plan F is broad and happens to be their most popular plan for seniors. It helps cover deductibles, hospital costs, hospice care, excessive charges, as well as foreign travel emergency services. There is also a high deductible Plan F, which allows for lower monthly payments.

They also offer a Plan N. This one is popular because the premium is one-third less than that of Plan F. Also, there is a foreign emergency travel benefit worth $50,000. Finally, there is Plan G, which is the same as Plan F but without the excess charges benefit.

United Healthcare also offers Medicare Supplement Insurance Plans. However, their process for providing information about the specific plans depends on your location. Their website will ask for a zip code and they will display the possible plans to choose from.

Seniors Have Options for the Healthcare

We live in a world where people are living longer than they did in the past. This is a great thing but it also means they have to be taken care of. Luckily, Medicare will take care of most of the medical expenses for senior citizens. It offers a variety of plans to suit most needs, however, it is not a catch-all. This is where using either Advantage Medicare or a supplemental plan from a private company comes in. Many companies offer these plans but Blue Cross is one of the most common and the easiest to find information about. Access to healthcare for seniors should be super difficult, and luckily the process has gotten easier over time.