We all may be well aware that Medicare is a federal health insurance product. This is regulated by the government for senior citizens over the age of 65. However, despite Medicare being around for some time since its inception in 1965. We find there aren’t many people who’ll call themselves an expert on the subject matter.
After all, as a government-regulated specialty program. We are aware that there are certain rules, regulations, and general considerations associated with Medicare. So we are sharing some information that people on the receiving end ought to know. However, most of the time, self-sufficiency or lack thereof leads to doubtful decision-making when it comes to Medicare.
Hence, we have decided to clear the air once and for all! Thanks to our expertise in the field. We are going to share seven of the most obvious yet not-so-obvious facts. A few tidbits about Medicare that you may kick yourself for not knowing. Let’s have a look.
1. Medicare Isn’t a One Size Fits All Program.
Unlike any other insurance program that you must have acquired. Medicare is not a one-size-fits-all program. In fact, what comes as a shocker for many people is the fact that there are actually several parts. From Part A, B, C, and D, there are other coverage options. There is additional outpatient care, and Medicare network healthcare institutions and doctors. Hence, it is vital to learn and understand about each part individually. Then from there you can figure out what plan fits your needs.
2. Choices, Choices and More Choices
Naturally, if there are so many parts and options within Medicare, then that means there are quite a few choices as well. Because each part categorizes a different part of the coverage, you have to be very keen on your choices going forward. Moreover, even if many healthcare institutions and doctors are within the Medicare network, many are still not. So you have to choose the healthcare provider within your network. In addition to out-of-pocket costs, prescription drugs don’t come under a traditional plan, so that is also a choice for you to make.
3. The Price Tag Can Be Hefty
Not a shocker that one yet people tend to undermine the final price tag that may come up, which leads to considerable surprise and doubt over their decision. However, the traditional Medicare facility was designed to help senior citizens, especially those with severe end-stage diseases. Hence, acquiring the traditional Medicare will never surmount a hefty price tag. In fact, there is no limit to the amount you will spend for co-insurance, which is the significant chunk of your medical charges and actually is your responsibility. It is important to note here that despite certain upward costs, Medicare saves you a lot on healthcare with its plans.
4. There Are Deadlines
It is almost funny that people don’t know about one of the most obvious facts about Medicare – there are deadlines with consequences. One of the major ones being that you only get seven months to sign up for Medicare. This is the seven-month time window starting from three months prior to your 65th birthday, then your birthday month, and then three months after your birthday. Many people who even are aware of this deadline are not too sure about when it starts. Hence, they only start to consider Medicare once they turn 65, and three months later, reaching a decision costs them a late enrollment penalty.
5. The Dilemma of Dental, Vision 7 Hearing Coverage
Whether you need prescription glasses, a hearing aid, or a root canal, Medicare would not provide the coverage for you. Unless there are conditions attached – for instance, you are already staying at a hospital for a Medicare-covered procedure and require an emergency procedure for dental, vision, or hearing issues. This causes quite a dilemma with senior citizens given how with age, three of the rapidly deteriorating aspects are dental, vision, and hearing loss. Therefore, you are required to supplement your Medicare plan in order to include these issues in your coverage plan.
6. Your Nursing Home Isn’t Covered.
Unless you are staying with a rehabilitative care center like the ones that provide physiotherapy, Medicare doesn’t cover your neighborhood nursing home. In fact, Medicare doesn’t cover in-home care for daily life tasks like dressing and bathing. Given how the elderly do sometimes need this additional helping hand and out-of-pocket costs can be anywhere $100 and upwards, Medicare not covering such aspects is quite a shocker for people, and they can get a hard time coming around to it.
7. You Can Always Get Help
Last but certainly not least, what many people tend to undermine the most is the fact that they can always get help. You don’t have to be a know-it-all expert or take advice from un-knowledgeable friends and family who may potentially guide you wrongly. You can always find a Medicare practitioner and provider who keeps things easy, transparent, and understandable with their clients – much like us. At My United Insurance, our team pushes to exceed your expectations each and every day. Our guiding principle is to serve the senior citizens at the highest level as we are always working to bring our clients the VERY BEST RATES. Contact us to get started on your Medicare journey today!
