What are the pros and cons of Medicare?
If she is able to stay out for 60 days, medicare will restart the clock and let her go back to the hospital for another 60 days, that medicare will pay for. The last thing is that there is some lifetime extension, which you can use once in your life, which will grant you another 60 days of staying in a hospital that Medicare will pay for. 6. 6 ...
Does Medicare really pay for Meds?
Medicare: Health insurance for old people. It's run by the US government. 1.45% of the money your employer pays out for you goes to Medicare. The justification is that by the time you are old, medical care is really, really expensive, and many old people can't afford it. So the US government pays a good chunk of it.
Is Medicare a good deal?
Medicare is a system funded by payroll tax that helps old people (who have paid into Medicare for decades) afford the expensive and long-term medical bills of being old. Medicaid is a program to help poor families and individuals afford healthcare. 4 level 1 Cliffy73 · 5y A couple additional notes:
Does Medicare Advantage replace original Medicare?
Medicare Advantage is more of a “pay as you use it” plan. Depending on where you live you can get a plan for a $0 monthly premium. The plan will cover everything that Medicare A and B cover. They also include a prescription drug formulary (part d). Often times these plans will also include extra benefits such as dental, vision, hearing ...
What is Medicare Advantage?
Medicare Advantage is more of a “pay as you use it” plan. Depending on where you live you can get a plan for a $0 monthly premium. The plan will cover everything that Medicare A and B cover. They also include a prescription drug formulary (part d). Often times these plans will also include extra benefits such as dental, vision, hearing, transportation, over the counter allowance, etc. There are HMO plans, which tend to be less out of pocket but you are only covered if you stay in the network for your doctors. PPO plans give you the freedom to go out of network for doctors, for a higher copay. All Medicare advantage plans protect your out of pocket expenses by limiting it to a certain amount.
How often is Medicare for Dummies updated?
I read the book "Medicare for Dummies" and learned so much. It's updated every year, so get the latest copy you can. I checked it out of the library and had to renew it twice - it took a long time to read through it an hour or two at a time.
Is Medicare good for my dad?
A lot depends on what your father’s health status and financial resources are. Traditional Medicare is good if you have a health advocate (that knows the ins and outs of health and aging). Geography also plays a big role. Are you in an area that has a large health group presence (hospitals, doctors and care agencies all run by the same group)? Medicare Advantage Plans are for profit. They have a lot of say over a person’s services and can deny medications, surgeries, etc. There are a ton of variables in choosing a plan. I personally discouraged my parents from choosing an Advantage Plan and to stick with traditional Medicare, but that is what was best for them.
Does AARP have plans?
AARP has plans as well. Might be worth it to sign up just to see what they offer and what they have to say about stuff. https://www.aarpmedicareplans.com/
Does Medigap pay for doctors?
MediGap plans pay the 20% that Medicare doesn’t cover. This would be ideal for someone who is in and out of the hospital or sees a lot of specialist. The premium is typically much higher than an advantage plan- but you don’t have to worry about copays at dr or hospital. If he signs up during his initial enrollment period, he wouldn’t have to be underwritten and pre existing conditions wouldn’t effect his monthly premium. A lot of people like mediGap policies for the peace of mind that if anything happens you would have complete coverage, depending on which letter plan you choose. Also with a medigap plan you are not restricted to a network for doctors.
