In dictionaries the word gap means a break, a separation, an incompleteness or deficiency. In Medicare it means the same thing, but it refers specifically to something that is missing from your health insurance coverage. Many seniors make a critical mistake when they buy into government literature that explains how Medicare pays for eighty percent of your healthcare. This is … [Read more...]
What Medicare Out-of-Pocket Costs Mean to You
Out-of-pocket costs are those fees that you have to pay at the doctors office, hospital or pharmacy because they are not covered by your Medicare health insurance. Almost all healthcare plans have these expenses, but they vary according to what type of Medicare plan you choose. Your out-of-pocket costs are a financial risk. As with any other type of insurance, the more risk … [Read more...]
Is a Medicare MSA Plan Right For You?
MSA stands for Medical Savings Account. It's a type of health insurance plan that helps you set aside monies in a tax-free savings account to be used on your health care costs. If you're familiar with Health Savings Accounts outside of Medicare, it's a similar type of health plan. Some Medicare Advantage (Part C) plans offer the MSA feature. They have a lot of flexibility … [Read more...]
Tips on Enrolling in Medicare for the First Time
About ten thousand people a day turn 65 in the United States, making them eligible for Medicare health insurance. If you are about to turn 65 you might want to know what being Medicare eligible means to you and how you can best prepare. The most important thing to be aware of is your Initial Enrollment Period (IEP), which is the time period that most people apply to receive … [Read more...]
Does Medicare Travel With You on Your Vacations?
Are you planning a vacation or two this summer? Make sure you know what your health insurance covers before you leave town. Medicare's coverage of your medical care depends on where you travel and how you receive your Medicare benefits. How Medicare Works When You Travel Inside the US and its Territories If you have Original Medicare, you can travel anywhere within the US … [Read more...]