Medicaid Health Insurance
Medicaid Health Insurance: Know Your Rights
It is very important to get familiar with what your rights are regarding Medicare health insurance coverage once you turn 65. On the first day of the month that you turn 65 you are automatically enrolled in the Medicare coverage system. This means that if you are retired and 65 you will have coverage. If you are still employed you can continue to receive the benefits from your employer, once you leave your employment you will have up to 6 months to enroll to get your Medicare benefits without penalty.
The great news is that once you are eligible for you are eligible to apply for a Medicare Supplement plan or Medigap plan. As you are aware, Medicare pays 80% on approved procedures and you are responsible for the remaining 20%. You may think that 20% is not a very percentage however; there is no cap as to what the 20% will consist of. So you see, if you have a severe medical condition you portion could be hundreds if not thousands of dollars. That is where a senior insurance plan or Medigap plan comes into play. Medigap insurance is just that, it gaps the difference between traditional Medicare coverage and your portion. It plan will cover your 100% of the difference on all Medicare approved procedures with one simple monthly premium payment and a senior insurance plan is very easy to get. If you enroll during the open enrollment phase you will not have to go through the underwriting process. So that is good news for those of you who have a severe medical condition. You will be covered regardless of your health and history.
Important Information you need to know!
One important piece of information that you need to know is that coverage for Medicare supplements do not differ regardless of what insurance carrier you choose to go through; they are all the same but they will vary in price from company to company. When your are shopping for the best Medicare supplement rate plan or looking for the cheapest quote in your area always use a licensed and trained independent insurance agent. This is crucial for your peace of mind. Get familiar with what your rights are regarding your health insurance coverage and plan ahead. You can apply for coverage up to 6 months before you are eligible so that when the day comes and you turn 65 you have the coverage you need at a premium rate you can afford.
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