The Ultimate Guide to

By | August 6, 2019

Medicare Program and Its Benefit to the American People

For all those who have worked in the US, the Medicare tax is one of the deductions that you ever have seen in your salary. It helps in that when one becomes eligible for Medicare, he or she will automatically receive this medical insurance. One thing that you need to understand however is that this form of tax helps to offer health coverage for the aged since it becomes effective in 1965. Though there has been a lot of evolution as far as Medicare coverage it’s concerned, it has remained true to its foundation which is to provide insurance to the old and those with certain disabilities.

The Medicare program works in such a way that when you retire or determined to no longer be physically fit to work, it provides you with the health insurance you need. There is the need to know that one is needed to enroll for this program as it is not automatic. Also you need to understand that once you enroll, there are monthly premiums you will be paying. Additionally, you will be penalized if you do not enroll within the given timeframe or follow the given rules.

When you turn 65 years of age or you have certain disabilities, there is the need to know that you qualify for the medical coverage or what is known as Medicare Part B. It is important to know that the Medicare Part A is different from Part Band has its own coverage and premiums although the qualifications are similar. The enrollment to the program usually takes a period of 7 good months. With the first part, you need to start enrolling 3 months before you are sixty-five and the next three when you have already retired. Failure to enroll in that timeframe usually attracts a penalty.

After you have enrolled, there is a Medicare open enrollment that usually begins on a specific day of October and ends on a given day in December. It is during this time that one has a chance to choose a different plan without the need of Medicare Special Enrollment Period. During this period, you will learn of all the available options that you can add on to part B as the page suggests.

It is important to know that you can qualify for Medicare and Medicaid altogether at the same time. There is a lot of Americans who have taken advantage of this special circumstance that is known as the dual enrollment. Also, you need to understand that you can get Medicare and continue to work as long as you meet a certain income.

If you happen to qualify for Medicare coverage, it is important to speak to a qualified representative to help you get a better understanding of the plan that suits you.