Medicare annual enrollment

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MONROE, La (KNOE) - What is Medicare anyway? Does it cover all of my healthcare expenses? Do I have to pay anything for it?….These are all great questions, and they all have simple answers! Medicare is health insurance for those who are 65 and older or have certain disabilities. Many Americans earn their Medicare by virtue of working and paying taxes. With that being said most people do not have to pay a premium for Part A of Medicare as long as they (or a spouse) had 40 quarters of taxes paid. As for Part B, the standard premium for those beginning coverage in 2017 is $134 per month. This premium is usually withheld from your Social Security benefit or is billed quarterly if you are not receiving Social Security.

Courtesy: MGN Online

Medicare is an insurance program. Medical bills are paid from trust funds which those covered have paid into. It serves people over 65 primarily, whatever their income; and serves younger disabled people and dialysis patients. Patients pay part of costs through deductibles for hospital and other costs. Small monthly premiums are required for non-hospital coverage. Medicare is a federal program. It is basically the same everywhere in the United States and is run by the Centers for Medicare & Medicaid Services, an agency of the federal government.

Medicaid is an assistance program. It serves low-income people of every age. Patients usually pay no part of costs for covered medical expenses. A small co-payment is sometimes required. Medicaid is a federal-state program. It varies from state to state. It is run by state and local governments within federal guidelines.

Providus Financial here in Monroe help seniors with Medicare and Medicaid products. Many seniors know they have Medicare, but they have no idea how to protect themselves from the rising costs of drug and healthcare costs. We show them how to reduce their out of pocket expenses and also how to add other services like dental, vision, transportation and even gym memberships and sometimes at no cost to them. We also help seniors qualify for Medicaid services that can actually put money back in their pockets. We are insurance brokers, but we do more than just sell insurance.