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Health Insurance Resources & Information - All You Need To Know

There's a lot of new information and legislature (like the Affordable Care Act, or Obamacare) regarding your Health Insurance options, and we're here to help you make sense of it all. It is important to understand the Health Insurance landscape, as well as your personalized options, so you can make an informed decision.

Begin your research by clicking on the helpful links and articles provided below.

Affordable Care Act (ACA)

Affordable Care Act (ACA)

Understanding Obamacare

Understanding Obamacare

Health Insurance Options

Health Insurance Options

Shopping for Health Insurance

Shopping for Health Insurance

Healthcare: Marketplaces & Exchanges

Health Insurance Marketplace

Important Info About Medicare

Medicare Insurance (Seniors)

Short-Term Health Insurance

Short-Term Health Insurance

Medicare Insurance (Seniors)

What Seniors Need to Know About Medicare

The United States government offers several health care coverage options to American citizens at different times in their lives. Retirees 65 years old and older are eligible to apply for Medicare. Although this coverage doesn't pay for all of their healthcare needs, many seniors sign up for it because it's typically available at a lower cost than non-Medicare health insurance plans. Additionally, other types of low-cost supplemental Medicare insurance options are available for anything not covered under the primary Medicare options.

Coverage Within Medicare

Medicare is available as four coverage options: Parts A and B, C and D. Many seniors find it difficult to understand what these areas offer in terms of coverage because of the letter designations. They also don't always understand their low-cost supplemental insurance choices. The below sections outline in a summary format all of the basic information seniors need to know about Parts A and B, C and D:

Parts A and B

These Medicare areas cover approximately 75 to 80 percent of all inpatient and outpatient care. Parts A and B are considered “standard” or “original” Medicare. Part A covers when a senior has been admitted to a medical facility for treatment. It also covers hospital visits. Part B covers treatment at facilities where the senior does not stay overnight, such as a family doctor's office or physical therapy facility. It also covers some outpatient treatment procedures. When a senior receives a bill when covered by a plan offered through Medicare Parts A and B, the amount the senior must pay is the difference between the covered amount and the actual cost of care.

Part C

Seniors who desire additional coverage under Medicare have the option to enroll in Part C instead of Parts A and B. Part C offers them the ability to choose one of several “private” plans, known as Medicare Advantage plans, that are made available through private sector insurance companies that the government subsidizes. With Part C, seniors receive a higher level of coverage that usually includes certain types of dental and vision care. Some plans also offer varying degrees of brand-name and generic drug prescription coverage.

Part D

The government offers prescription drug coverage under different Part D plans through pre-approved private insurance carriers. The level of coverage depends on the Part D plan. As mentioned above, some Part C plans include Part D as an integrated aspect of Part C. It is a separate supplemental choice for seniors that enroll in Parts A and B. Seniors that need prescription drug coverage don't have to worry about health or income restrictions when applying for Part D. Those who meet certain low income requirements can even apply for assistance through the Social Security Administration to cover the cost of the plan.

Additional Supplemental Coverage

Any area of healthcare not covered under Medicare Parts A and B, C and D is referred to as a “gap” in coverage. Medicare supplemental plans provided by private insurance carriers are known as “Medigap” plans. As with non-Medicare private insurance, seniors have a lot of coverage choices, and they can pick and choose the level of coverage that best suit their needs and budget. Seniors must pay premiums on time by designated dates to continue to receive coverage.

If a senior still feels confused by the Medicare letter-based titles, the best way to remember the breakdown is as follows: A and B are standard coverage, C is advanced coverage and D is drug coverage.

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