Posts Tagged ‘medigap’

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Attention Medicare Clients

Monday, May 16th, 2011

If you currently have Medicare, you can get Medicare prescription drug coverage. If you have limited income there is help out there. You can research online, locally, or contact prescription carriers direct.

Extra Help helps pay for some of the costs. This includes annual deductibles, prescriptions co-payments, and monthly premium help.

A lot of people can qualify for “Extra Help,” but are not aware of it. People assume that they are not. This assumption should not be made, and you should always check to see if you are eligible.

Some of the information needed to know if you are eligible are investments, real estate, your income, and if you have any savings for healthcare.

If you are married, you should be sure to include this information as well. Information for you and you’re spouse is needed when checking eligibility.

You need to file an Application for Extra help with Medicare Prescription Drug Plan Costs form to see if you are eligible. If you become ill and need medications, this will help with the cost.

Also, in January of 2010, some things that qualified as resources and income no longer do so. This will allow more applicants to be accepted for the Extra Help program.

It is always best to check for eligibility on different programs of help while on Medicare. Assuming that you are not eligible can keep you from receiving benefits that you very well are eligible for.

Do you have Medicare prescription coverage? Are you on Medicare currently? If you have limited income there is help out there, Extra Help.

Extra Help helps pay for some of the costs. This assistance includes annual deductibles, prescription co-payments, and monthly premiums.

Not everyone is eligible for Extra Help, so applying is the only way to verify if you are or are not. People assume that they are not. This assumption should not be made.

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Medicare and SSI

Monday, May 16th, 2011

Medicare and SSI (Supplemental Security Income), are two different things and should not be confused with one another. SSI pays a monthly benefit and gives you Medicaid. Medicare is insurance that you can get when you have worked and paid into Social Security.

To become eligible for SSI you must be 65 years of age or older, be partially or totally blind or have a medical condition that keeps you from working and is expected to last at least a year or cause death.

However, for children, there are different rules. I am discussing SSI for adults, if you need information for children contact you’re local Social Security Office and ask for Benefits for Children with Disabilities.

Basic monthly SSI payment for 2010 was $674 for one person. For a couple, the benefits go up to $1,011 per month.

The total amount of benefits can vary depending on different factors. Not all will receive the same amount. Some factors that can affect the amount are where and with whom you live.

The things you own, resources, if not worth more than $2000, can qualify you for SSI. For a couple, total value of resources must be $3000 or less.

Lastly, you must be a United States resident or Northern Mariana Islands resident to be eligible for SSI. You do not have to be a US citizen, only a resident, to be eligible.

Medicare and SSI differ in many ways. However they are both helpful benefits to those 65 or older and live in the United States.

Medicare and SSI (Supplemental Security Income) are not the same thing. SSI pays a monthly benefit and gives you Medicaid. Medicare is insurance that you can get when you have worked and paid into Social Security.

To become eligible for SSI you must be 65 years of age or older, be partially or totally blind or have a medical condition that keeps you from working and is expected to last at least a year or cause death.

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Medicare History

Monday, May 16th, 2011

Medicare, to put it simply, is a social insurance program in the United States that is financed by the United States government. It provides health insurance coverage to people who are aged 65 and over, and meet other criteria.

Do you know who signed the amendment for medicare? That would be President Harry S. Truman. Truman also possessed the first medicare card. President Lyndon B. Johnson enrolled former President Truman as the first Medicare beneficiary.
Harry S. Truman was born on May 8, 1884, and died December 26, 1972. He was 88. He was the 33rd President of the United States . Harry S. Truman was born in Lamar, Missouri. President Truman was the oldest child of John Anderson Truman and Martha Ellen Young Truman.

President Truman was named after Harrison Young, who was his uncle. President Truman was in office from April 12, 1945 to January 20, 1953. President Truman was famous for numerous quotes.

One such quote was “the buck stops here.” He also started the quote, “if you can’t stand the heat, get out of the kitchen.” President Truman took office after the death of President Roosevelt.

Truman had only been in vice presidency for 2.5 months before taking office. President Truman said to reporters “Boys, if you ever pray, pray for me now. I don’t know if you fellas ever had a load of hay fall on you, but when they told me what happened yesterday, I felt like the moon, the stars, and all the planets had fallen on me.”

Imagine the stress and sudden responsibility of becoming President overnight! Truman was only in his vice presidency less than 90 days before being thrown into becoming the President of the United States!

Truman made his identity as a Democrat in the New Deal tradition, advocating national health insurance. President Truman has numerous things named in his honor. My personal favorite is the mascot for the Missouri Tigers. Their mascot is Truman the Tiger.

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The Way Senior Policies Work

Monday, May 16th, 2011

There is a government health plan called Medicare that provides hospital, medical and surgical benefits to patients age 65 and older with certain illnesses. This coverage may not be able to cover all of your health care costs, so you have the option to purchase additional coverage through a private health provider called Medigap Insurance.

Many health insurance companies sell Medigap plans to help fill the “gaps” in the original Medicare coverage. This will help you by paying health care costs that aren’t fully covered by the basic Senior Plan.

Original Medicare and Medigap coverage share the costs of health care. If you are interested in obtaining a Senior plan, you must contact an insurance agent or company directly for rates. There are many plans you can choose from when seeking Supplemental coverage. Some pay 100% of the difference where some have deductible and co pays.

There are currently 12 different plans available, Plans A through L. Each plan has a different set of benefits. The premium varies based on plan design and company selected. All contributions and other costs for the coverage you select are your responsibility.

Once your basic plan pays for your benefits, the eighty percent that is left over can be paid by a Senior plan. Supplement plans are not meant to cover the out of pocket expenses like Medicare Advantage and HMOs and PFF plans do . Each company offers plans A through L. With these plans, you also have the option in choosing a SELECT plan. SELECT plans are a combined standard Senior Coverage plan along with a PPO plan which means you are restricted to a network of hospitals if you choose this route.

Some SELECT plans require that you pay a copay when you visit your regular Dr. SELECT plans do cover benefits provided in Medigap policies A through J, however you must select an in network provider to have benefits covered.

Medicare offer many plans through multiple companies. SELECT plans cover benefits provided in Supplemental policies A through J, only if you see and in-network provider. Many SELECT plans do require that you pay a co pay when you visit your physician.

Federal law does not require the sale of Senior plans to those under 65; however, some states have laws requiring Medicare insurance companies to offer Supplement policies to those who qualify for this because they have a disability.

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