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The ABCDs of Medicare Coverage
Looking for a dependable Medicare insurance provider Miami, FL residents and other American trust? Where do you even begin? Insurance Products Source is here to help you understand the ins and outs of Medicare coverage. We'll help remove the stress from making the "right" decision by educating you about the different types of Medicare. There are four different kinds of Medicare, which may sound like a lot, but they are easy to break down.
Each part covers specific services:
- Part A coverage handles hospital expenses.
- Part B coverage is for medical expenses.
- Part C coverage is Medicare Advantage, a combination of A, B, and D.
- Part D coverage is dedicated to prescription drugs.
Known as "Original Medicare," parts A and B are provided by the government and are nationally accepted and used. No prior authorization is necessary for these coverages, and there are limits on how much a provider can charge. When using A and B, a co-insurance payment is usually set at the time of service. Part B covers roughly 80% of medical expenses, which is why some clients will add supplemental Medicare or a Medigap plan to address the other 20%.
Part D is for prescription medications. You must purchase this coverage in addition to A and B. There are restrictions for specific medicines covered by Part D plans, so it's essential to research the plans carefully before making a choice. However, there's no need to worry! You can call us to help you make the best decision for your situation.
Medicare Coverage Eligibility
Medicare was designed to protect seniors and disabled individuals after leaving the workforce. Since the program's start in 1965, nearly all American seniors have been eligible to access the insurance they need when their employee benefits end. However, there are a few requirements in order to qualify for the program.
- You must be 65 or older to participate in Medicare benefits. People under 65 can be eligible, depending on specific disabilities or medical conditions.
- You must be a citizen of the United States or a permanent legal resident. If you are a permanent legal resident, you must live in the United States for at least five years before eligibility.
- You must be eligible for Social Security benefits. This requirement indicates you must have worked for ten years or more. You do not have to take Social Security to enroll in Medicare. Working for at least ten years means you won't have to pay hospital premiums. It's important to note that work credits are unnecessary for Medicare Part B coverage.
Medicare Enrollment Details
There is a 7-month timeframe for the initial enrollment for Medicare. For parts A and B, registration begins three months before your 65th birthday and ends three months after. While you can still sign up after that period, penalties may apply, so enrolling during that 7-month window is imperative.
There are also annual enrollment options for Medicare. From October 15th through December 7th, you have an opportunity to change your coverage options. You can adjust your costs, coverage, or providers during this enrollment period. This time frame allows you to make changes based on your needs throughout retirement.
Reliable Medicare Insurance Experts
When you partner with Insurance Products Source, you're gaining over ten years of insurance-based experience on your side. Our agents will help you find the right insurance suited to your situation. As a reputable medicare insurance provider in Houston, TX that is assisting over 500 active enrollments, you can rest easy knowing you're in good hands. In fact, we've become the Medicare insurance provider Houston, TX residents and Americans across many other cities trust the most.
We take a hands-on approach to insurance, offering a more personalized service. We want to remove the stress from insurance management, and we do that by having one direct point of contact. We'll find you the best rates with exceptional service, whatever your individual needs or budget.
Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage. These “bundled” plans include Part A, Part B, and usually Part D.
Get in touch with us today and request a free quote! We respond to most inquiries and calls on the same business day.
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