About Medicare - The Basics

Medicare is health insurance for people age 65 and older and people under 65 who receive Social Security Disability Insurance (SSDI). 24 months from the date that the Social Security Administration determines you were first eligible for SSDI cash benefits, you will be eligible for Medicare.

Medicare is made up of several different parts. Crowe Paradis' Medicare Advocacy service is available to help you decide how to make the most out of your Medicare eligibility and take advantage of the many benefits that Medicare has to offer. Below is a brief description of the different parts of Medicare.

Medicare Part A (Hospital Insurance) helps cover inpatient care in hospitals. Part A also helps cover a skilled nursing facility, hospice, and home health care if you meet certain conditions. Part A is generally premium-free.

Medicare Part B (Outpatient Insurance) helps cover medically-necessary services like doctor's services and outpatient care. Part B also helps cover some preventative services to help maintain your health and to keep certain illnesses from getting worse.

Your Initial Enrollment Period for Medicare Part B will begin three months prior to your 25th month of disability benefit entitlement. The premium for Medicare Part B is $110.50 in 2010. This monthly premium is deducted from your Social Security, Railroad Retirement, or Civil Service Retirement check. If you don't get any of these payments, Medicare will send you a bill for your Part B premium every 3 months. If you choose not to enroll during your Initial Enrollment Period, you can sign up for Medicare Part B at a later time during two other enrollment periods, however, you may be assessed a penalty for late enrollment.

Medicare Part C (Medicare Advantage) is another way to get your Medicare benefits. It combines Part A, Part B and often Part D (prescription drug) coverage. Medicare Advantage plans are managed by private insurance companies that have been approved by Medicare. These plans must cover medically necessary services. These plans can charge different copayments, coinsurance or deductibles for these services.

Medicare Part D (Medicare Prescription Drug Coverage) helps cover prescription drugs. This coverage may help lower your prescription drug costs and help protect against higher costs in the future.

Medicare Supplement (Medigap) is private health insurance designed to supplement an Original Medicare Plan (Part A and Part B). This means it helps pay some of the health care costs - "gaps" - that the Original Medicare Plan does not cover, like copayments, coinsurance and deductibles.

Crowe Paradis: The Right Fit at The Right Time