Medicare is not only for people age 65 and older. People with disabilities aged 18 to 64 may qualify for Medicare benefits after receiving Social Security or Railroad Retirement disability benefits for 24 months, or in certain other situations.
What Medicare Covers
Medicare has four parts: Part A, Part B, Part C and Part D.
Medicare “Gaps” That Need To Be Filled
While Medicare can help with your medical bills, take note that it does not cover 100% of all medical costs. Meaning, you will still have out-of-pocket expenses even if you have Medicare coverage.
If you require an extended hospital stay, Medicare Part A has a deductible ($1,216.00 per benefit period) that you must pay before Medicare coverage kicks in. The first 60 days of a stay are covered by that deductible and Medicare, but if you need hospitalization for more than 60 days (days 61 up to 90), you would pay a copay of $304.00 per day (for 2014). For days 91 and beyond, it would cost you $608.00 (for 2014) per day.
Having only Original Medicare can leave you with substantial out-of-pocket medical expenses. There’s a plan that can help fill in those coverage gaps.
A Medicare supplement insurance plan, or Medigap plan, is designed to supplement Medicare Parts A and B. It pays for services and out-of-pocket expenses not covered by Medicare.
In addition to Medigap plans, Medicare Advantage plans can also help you avoid some gaps in your coverage. Plan availability and costs for those under 65 vary greatly by state. You may have guaranteed access to coverage, but only during a limited time -- so don't delay.
Learn your coverage options by reading our special report. Just enter your contact information below and we will send you this informative essay that helps you understand the ins and outs of Medicare, Medicare supplement plans and Medicare Advantage plans.
If you have more questions after reading this, just let us know! You can always call your Personal Benefits Consultant for a free consultation to discuss your situation and ensure that you make the best decision possible.
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Disclaimer: Medigap Advisors is not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE or consult www.medicare.gov (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week.