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Medicare Made Easy

MEDICARE MADE EASY A major effort on the part of the U.S. government to provide affordable health insurance for seniors over the age of 65, people with certain disabilities, & people of any age who have permanent kidney failure. 1965 TODAYA6 Medicare started by offering coverage of basic hospital & medical services. Now it has grown to offer other health plan options & prescription drug coverage from private insurers. MILLION people benefit from Medicare, MEDICARE BENEFITS (4 Parts) ORIGINAL MEDICARE PART A APPLY You must Apply for these Automatic benefits (covered through your taxes!). You get FREE coverage of inpatient hospital, skilled nursing facility care & home health care. PART B BILLS Paying a monthly premium, you can enrol for coverage of most doctor's Bills, & some medical services & supplies. PART D DRUGS Run by Medicare approved private insurance companies, Part D will help to cover the cost of prescription Drugs, & can also help lower your prescription costs. MEDICARE ADVANTAGE PLAN PART C Run by Medicare approved private insurance Companies, it will include parts A, B, & COMPANIES Part D for an extra cost. The Health Maintenance Organizations (HMO) is considered in Medicare Advantage Plans. MEDIGAP / MEDICARE SUPPLEMENTAL INSURANCE Medigap is a private policy that supplements some things (co-payments, coinsurance, or deductibles) that aren't paid through a regular Original Medicare policy, leaving you with little, if any, out of pocket costs. A Medigap policy must belabeled "Medicare Supplement Insurance" to ensure that you are protected by both State and Federal laws. * You can't add a Medigap policy onto a Medicare Advantage Plan. MEDICARE ADVANTAGE PLAN Is the way to get Original Medicare benefits MEDIGAP It supplements an Original Medicare policy VS The ABDS of Medicare ABD Coverage ABC Coverage ABD + MG Coverage PART A Hospital Ins. Hospital Ins. Hospital Ins. PART B Med. Ins. Med. Ins. Med. Ins. PART D Prescription Drug Coverage Prescription Drug Coverage PART C A &B sometimes D Medigap A&B Gap Coverage SUMMARY Lowest up-front costs The most gaps Medium up-front costs Fewer Gaps Highest up-front costs Least Gaps ELIGIBILITY Age 65 or older & 1 Eligible for Social Security or Railroad Retirement benefits; the spouse or former spouse of someone who receives Social Security or Railroad General Elgibility Retirement Benefits. + Worked long enough in a federal, state, or local government job to meet the Social Security disability program requirements (this is if they are under 65). Worked long enough in a federal, state, or local government job (or a spouse of) to meet the Social Security disability program requirements & have 40 or more quarters of Medicare covered employment. + Have been receiving Social Security disability benefits for at least 24 months Not automatically eligible but may enrol voluntarily if they are U.S. citizens or legal aliens who have resided in the U.S. continuously for at + Have End Stage Renal (Kidney) Disease least 5 years, & purchase Parts A & B of Medicare, or Part B only. APPLYING FOR MEDICARE Where Your local Social Security office. When Within three months before you turn 65, submit when you apply for Social Security. Applying Late Failure to enroll within this three-month Free & Problem Free period, incurs a penalty fee. Following the regular application process, Medicare becomes effective on the 1st day of the month in which the applicant turned 65. FUNDING PART A PART B $ The premium is withheld from your Social Security check each month, paying for part of your benefits. + Higher incomes pay a higher premium. Medicare taxes pay for benefits. Taxes you paid in the past provided benefits to others. Employers & employees pay these taxes. PART D + This is subsidized in part by Medicare. + 99 % of Medicare beneficiaries don't pay a premium. + You pay a premium to your private insurance company for either a "stand-alone" Prescription Drug Plan, or a portion of the premium for a Medicare Advantage plan (built-in Prescription Drug Plan). Some enrolees who have 39 - 30 quarters or less than 30 quarters of coverage obtain coverage by paying corresponding monthly premiums. Higher income beneficiaries pay an additional surcharge. Total Funds Allocated 20% 20% OF MEDICARE RECIPIENTS CONSUME 80% oF THE SPENDING The Centers for Medicare & Medicaid Services allocates approximately $800 or more per month per Medicare recipient to pay Medicare benefits. 80% BUDGET MEDICARE BANKRUPTCY? 2011 U.S. Government Report: NOT ENOUGH FUNDS Medicare funds don't cover all medical care costs. Additional medical expense coverage can be purchased to cover PART of your other medical care costs. Medicare won't have sufficient funds to pay full benefits starting in 2024, 5 years earlier than the 2010 projection. The change was affected by a slower-than-anticipated economic recovery. MOSTMEDICARE.com This Infographic is created by INFOGLYPHS MEDICARE MADE EASY A major effort on the part of the U.S. government to provide affordable health insurance for seniors over the age of 65, people with certain disabilities, & people of any age who have permanent kidney failure. 1965 TODAYA6 Medicare started by offering coverage of basic hospital & medical services. Now it has grown to offer other health plan options & prescription drug coverage from private insurers. MILLION people benefit from Medicare, MEDICARE BENEFITS (4 Parts) ORIGINAL MEDICARE PART A APPLY You must Apply for these Automatic benefits (covered through your taxes!). You get FREE coverage of inpatient hospital, skilled nursing facility care & home health care. PART B BILLS Paying a monthly premium, you can enrol for coverage of most doctor's Bills, & some medical services & supplies. $ PART D DRUGS Run by Medicare approved private insurance companies, Part D will help to cover the cost of prescription Drugs, & can also help lower your prescription costs. MEDICARE ADVANTAGE PLAN PART C Run by Medicare approved private insurance Companies, it will include parts A, B, & COMPANIES Part D for an extra cost. The Health Maintenance Organizations (HMO) is considered in Medicare Advantage Plans. MEDIGAP / MEDICARE SUPPLEMENTAL INSURANCE Medigap is a private policy that supplements some things (co-payments, coinsurance, or deductibles) that aren't paid through a regular Original Medicare policy, leaving you with little, if any, out of pocket costs. A Medigap policy must belabeled "Medicare Supplement Insurance" to ensure that you are protected by both State and Federal laws. * You can't add a Medigap policy onto a Medicare Advantage Plan. MEDICARE ADVANTAGE PLAN Is the way to get Original Medicare benefits MEDIGAP It supplements an Original Medicare policy VS The ABDS of Medicare ABD Coverage ABC Coverage ABD + MG Coverage PART A Hospital Ins. Hospital Ins. Hospital Ins. PART B Med. Ins. Med. Ins. Med. Ins. PART D Prescription Drug Coverage Prescription Drug Coverage PART C A &B sometimes D Medigap A&B Gap Coverage SUMMARY Lowest up-front costs The most gaps Medium up-front costs Fewer Gaps Highest up-front costs Least Gaps ELIGIBILITY Age 65 or older & 1 Eligible for Social Security or Railroad Retirement benefits; the spouse or former spouse of someone who receives Social Security or Railroad General Elgibility Retirement Benefits. + Worked long enough in a federal, state, or local government job to meet the Social Security disability program requirements (this is if they are under 65). Worked long enough in a federal, state, or local government job (or a spouse of) to meet the Social Security disability program requirements & have 40 or more quarters of Medicare covered employment. + Have been receiving Social Security disability benefits for at least 24 months Not automatically eligible but may enrol voluntarily if they are U.S. citizens or legal aliens who have resided in the U.S. continuously for at + Have End Stage Renal (Kidney) Disease least 5 years, & purchase Parts A & B of Medicare, or Part B only. APPLYING FOR MEDICARE Where Your local Social Security office. When Within three months before you turn 65, submit when you apply for Social Security. Applying Late Failure to enroll within this three-month Free & Problem Free period, incurs a penalty fee. Following the regular application process, Medicare becomes effective on the 1st day of the month in which the applicant turned 65. FUNDING PART A PART B $ The premium is withheld from your Social Security check each month, paying for part of your benefits. + Higher incomes pay a higher premium. Medicare taxes pay for benefits. Taxes you paid in the past provided benefits to others. Employers & employees pay these taxes. PART D + This is subsidized in part by Medicare. + 99 % of Medicare beneficiaries don't pay a premium. + You pay a premium to your private insurance company for either a "stand-alone" Prescription Drug Plan, or a portion of the premium for a Medicare Advantage plan (built-in Prescription Drug Plan). Some enrolees who have 39 - 30 quarters or less than 30 quarters of coverage obtain coverage by paying corresponding monthly premiums. Higher income beneficiaries pay an additional surcharge. Total Funds Allocated 20% 20% OF MEDICARE RECIPIENTS CONSUME 80% oF THE SPENDING The Centers for Medicare & Medicaid Services allocates approximately $800 or more per month per Medicare recipient to pay Medicare benefits. 80% BUDGET MEDICARE BANKRUPTCY? 2011 U.S. Government Report: NOT ENOUGH FUNDS Medicare funds don't cover all medical care costs. Additional medical expense coverage can be purchased to cover PART of your other medical care costs. Medicare won't have sufficient funds to pay full benefits starting in 2024, 5 years earlier than the 2010 projection. The change was affected by a slower-than-anticipated economic recovery. MOSTMEDICARE.com This Infographic is created by INFOGLYPHS

Medicare Made Easy

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A major effort on the part of the U.S. government to provide affordable health insurance for seniors over the age of 65, people with certain disabilities,

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