Medicare Income-Related Monthly Adjustment Amount (IRMAA) is the additional payment you make if your income is above a certain level. This amount is eventually added to the premiums of your Medicare Part B or Part D plans. The Social Security Administration (SSA) has four income brackets to determine your and your spouse’s IRMAA. The SSA […]
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The internet has made life more convenient than ever before. You can enroll in your Medicare plan in just a matter of minutes. No leaving home. No waiting in line. It’s fast and easy, which gives you the benefit of not having to plan your day around a process that ought to take minutes. How
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Employer health insurance is cheaper than traditional health insurance. But as you are nearing your 65th birthday, you’ve got another choice available to you – Medicare. Medicare expands upon the coverage you already have, plus some extra benefits. How do the requirements compare? Employer-sponsored group health insurance requirements are mostly in your employer’s hands. He
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Both Medicare and Medicaid are government-funded health insurance. Medicare is a federal program for granting seniors access to affordable medical treatments. Medicaid is a joint state and federal program that provides health coverage for those classified as low-income and/or medically needy. Comparing eligibility – which one covers more people? Not everyone who qualifies for Medicare
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As too good to be true as it sounds – yes, there are Medicare Advantage plans that do not charge premiums. How is this possible? Companies that sell Medicare Advantage plans have contracts with healthcare providers, which makes it mutually beneficial for policyholders and providers within the network. Those with Medicare Advantage plans have incentive
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Health insurance is a specific kind of insurance that usually pays for medical, surgical, and prescription drug expenses. Health insurance can pay your care provider directly or reimburse you for expenses you incur from illness or injury. In exchange, you usually pay a monthly premium. If you have an employer who offers a benefits package,
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A life insurance policy guarantees that the insurance company pays a decided sum of money to specific beneficiaries when the insured (the person who purchased the policy dies). In exchange, the policyholder pays premiums during their lifetime to the insurance company. There are two different kinds of popular life insurance policies: Term life insurance policies,
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What Does Original Medicare Cover? Original Medicare is broken into two aspects: Medicare Part A and Medicare Part B. Medicare Part A is hospital insurance, which typically covers inpatient care in a hospital, nursing home care, home health care, hospice care, and skilled nursing facility care. Medicare Part B is medical insurance, which typically covers
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Unfortunately, Medicare recipients are often targeted by Medicare scams. According to some reports, scams occur more frequently around the Medicare general enrollment period (usually January 1st to March 31st each year). What Are the Common Medicare Scams? Common Medicare scams include: Attempts to verify your identity by asking you to provide identification to receive a
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As an American citizen or lawful permanent resident of at least five years, you become eligible for Medicare benefits when you turn 65. Three months before the month of your 65th birthday, you can start enrolling in Medicare. Enroll within your Initial Enrollment Period to avoid late enrollment penalties. You can reevaluate your coverage every
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