Medicare is a Federal Health Insurance program generally for individuals 65 years of age and older. You will need to familiarize yourself with the A, B, C, and Ds of Medicare.
A general overview of Medicare
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Medicare Part A generally provides Hospital Insurance. Usually there is no monthly premium for Part A if you or your spouse has paid Medicare taxes while working. Coverage begins automatically on the 1st of the month you turn 65.
Medicare Part B focuses principally on helping to cover medically necessary and some preventative services. There is a monthly premium for Part B and it is adjusted annually. Coverage begins on the 1st of the month you turn 65 if you receive benefits from Social Security.
Medicare Part C is an alternative method of obtaining Medicare benefits. Medicare Advantage Plans are approved by Medicare and allow private insurers to provide programs that combine features found in Part A and B.
Medicare Part D helps cover the expenses of Prescription Drugs. Cost is variable depending on plan and provider. Coverage begins when you are eligible to enroll in a program offered by a number of providers in your service area when you turn 65. Each year there is an annual open enrollment from November 15 – December 31. You may change your program and carrier selection during open enrollment.
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For greater details regarding Medicare eligibility, program features, options, prescription drug plans, and how to apply, see the following Web site: www.medicare.gov.
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Medicare Supplement Programs
Medicare pays some of your doctor and hospital bills but was never meant to cover all of them. If you rely solely on Part A and B, you could have substantial out-of-pocket expenses. Supplement programs are available from a number of carriers and provide an additional layer of coverage. There are a number of plan options to choose from that will complement Medicare plans. For more information go to the EZ-Contact Us [TAB].
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NOTE: Did you know that you cannot rely on Medicare or your Supplement plan to provide for your LONG-TERM CARE needs? A LONG-TERM CARE Insurance policy is an excellent program to compliment your after 65 insurance. The most unplanned for expenses are those associated with end of life. LONG-TERM CARE insurance is not a luxury.
EZ recommends planning for your future end of life needs. We can prepare a custom LTC proposal for your immediate consideration. Go to the EZ-LTC Proposal Request form and provide the requested information or contact us at:
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info@EZ-HealthInsurance.com Ph: 847 – 382 – 0605 Fax: 847 – 382 - 0828
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