When it comes to health insurance in America, there are two systems that are more widely used, i.e. the Affordable Care Act/ Obamacare or Medicare. Here is a clear description about the Medicare health insurance coverage.
What Is Medicare?
Medicare was the health insurance coverage signed by President Lyndon Johnson on July 30, 1965. This health insurance program is a government based tax supported coverage system for people over the age of 65 and some young people with disabilities. If a couple, husband and wife, have worked over a period of ten years and that too, full time, then it is most likely that they will qualify for Medicare Part A (hospital insurance) free of cost. The Medicare Part B, which is the Medical Insurance, is available at a predefined rate set by the Congress, depending on the annual income of the person of interest. However, some senior citizens may qualify for Part B without having to pay monthly charges based on their assets and annual income.
How Does Medicare Work?
As mentioned above, Medicare is broadly classified into two different types of insurance, i.e. hospital insurance and medical insurance. Part A (hospital insurance); provides coverage for treatments and surgical procedures carried out in a hospital; and also includes the services of at home nursing care, hospice and home health.
Part B (Medical Insurance) provides coverage for doctor fees, diagnostic and lab tests, usage of medical equipment and outpatient care. Over the passage of time, there were two more parts added to the Medicare Insurance in 2002, Part C and Part D.
Part C provided Medicare Advantage; and Part D dealt in Prescription Coverage.
Applying for Medicare
The application for Medicare insurance is based on the Social Security benefits that a person has. Most people, who have been availing Social Security benefits, receive a notification for enrolment in the Medicare scheme shortly before their 65th birthday.
If however, an individual is unable to avail social security benefits, they should start applying through this office, at least three months prior to their 65th birthday.
The Long-Term Care Insurance
Long-term care insurance was common a few decades ago. It involved the families of old people, stepping in to take care of the older family member needs, of day care, nursing, homecare, and respite. Currently, however, this scenario has changed completely and due to an increase in expenses and longer distances, families are unable to handle long-term care insurance. A common misconception is that Medicare covers this part of the care as well, when in reality, long term care is covered under extremely special and limited circumstances only.
The Jordan Insurance Agency is the brainchild of Billy Jordan, who went through a great deal of frustrations when his mother was suffering from Stage 4 cancer. This Agency gradually grew with the passion of giving people access to the best possible health insurance coverage according to the budget. Blue Cross Blue Shield of North Carolina, Assurant Health, United Health One, and Coventry One are a few of the companies TJIA deals their contracts with. Feel free to call us today (704) 926-7565 or (800) 648-3870 and get your free quote from here!
