If you are 65 years old or will be soon, then you should consider signing up for Medicare insurance in 2018. There is a reason that this medical insurance is considered among the best in the country and why, so many seniors sign up for it. Thousands of people save money on their healthcare every year because of Medicare plans, and you should at least consider Medicare and what it has to offer you.
We want to tell you a bit about the Medicare plans that are available and how they can cover your medical expenses for you. From that information, you should be able to make a more informed decision about whether or not you need this kind of medical insurance.
First of all, our need to know that there are a few different kinds of Medicare plans. The basic one is known as Original Medicare, and it covers lots of the more frequent and common medical expenses that seniors or people in general tend to have. It takes care of many inpatient and outpoints costs, including laboratory testing, x-rays, nursing care, hospital room costs, ambulance care and even mental health care costs.
This is a plan that Medicare sells, and you can’t get it anywhere else, unless you buy it in package plan from someone else. You could get Original Medicare from a private insurance company, but it would have to be part of a Medicare Advantage plan. That plan includes all of Original Medicare, emergency medical coverage, urgently needed medical care services coverage and sometimes cover for prescription drugs and annual checkups.
Another plan you could sign up for through private insurance companies is Medicare Part D. This offers you prescription drug coverage, and it can cover a wide range of drug costs, but how much it covers and how it covers depends on which insurance provider you get it from. This is sometimes included in Medicare Advantage plans, and you can only buy Part D if it is not something you already have with another insurance plan. You won’t be able to get the same coverage plan twice, in other words.
You should also know about Medicare Supplement plans for 2018. These attach onto the basic Original Medicare and give you some more coverage. They cover less common medical expenses as well as the gaps that original Medicare asks you to pay. So, some expenses like co-payments, deductibles and excess charges that Medicare subscribers have to pay on top of their Medicare premiums can all be covered by Supplement plans.
You cannot sign up for all of these plans at once. They are not all compatible with one another. The Original plan is compatible with Part D and with Supplement plans. Advantage plans are only compatible with Part D plans if Part D is not already included with the Advantage plan, but they are never compatible with Supplement plans. So, if you sign up for one of these, there is a chance that you won’t be able to sign up for others, and you may need to drop a Medicare insurance plan in order to sign up for the one you want.
We suggest looking through the available plans carefully to ensure that you choose the most appropriate coverage for your needs. As those needs change, your coverage plan may need to change as well, and you will want to update it every so often.
Eligibility for Medicare
It’s not difficult to become eligible for Medicare. You can apply and expect to be approved once you turn 65 years of age. In fact, you can even apply up to three months before and make sure that you get the coverage you need when you turn 65.
You won’t be able to apply whenever you like, though. Once you turn 65, you only have a limited window in which to apply for the plan you want until you need to wait again. You can apply up to three moths after you turn 65; otherwise, you will need to wait until general enrollment to try signing up again.
General enrollment falls at the beginning of the year, and it extends until the end of March. During this time, you can sign up for any of the Medicare plans.
For those who would rather sign up at the end of the year, they can do so during Open Enrollment, when most of the Medicare plans will be made available and when approval is guaranteed, as long as they are 65.
There are exceptions to the general requirements, though. You don’t have to wait until you are 65 to sign up, if you have a disability or end stage renal disease. You may be able to sign up much earlier and enjoy Medicare encourage.
Do You Need Medicare’s Insurance 2018 Coverage?
Just because you are a senior, that doesn’t mean that you need Medicare’s coverage. There are a lot of other medical insurance plans out there to pick from and Medicare may not be the right choice for you. This is particularly true if you have employer insurance, which can often be cheaper or more comprehensive. But for everyone else, Medicare is usually the best way to go.
It can be incredibly inexpensive, depending on your financial and medical conditions and how long you worked and paid taxes for. People who worked and paid their taxes for 10 years are entitled to some serious price reductions on Medicare. If their spouse met those requirements, then they could still receive price reductions.
You should look carefully at your needs and how you have to be covered by an insurance plan and then compare that to what Medicare insurance in 2018 has to offer you. You could find that it is a very good match for you, and like many others, you could save hundreds and even thousands of dollars on medical insurance every year with this plan. Take some time to look at them and see how they stack up to your needs, then make the right choices for you and your healthcare coverage.