Medicare and Supplemental Health Insurance for Seniors

If you are a senior who is now eligible for Medicare and supplemental health insurance for seniors you have come to the right web site. Blue Sky Coverage has the tools, resources and information you need to make smart decisions about supplemental coverage. But first, let’s learn more about Medicare...

What is Medicare?

Medicare is a Social Security benefit for which individuals age 65 and older or individuals under age 65 that have certain disabilities, such as permanent kidney failure, may be eligible. Essentially, Medicare is a federally funded health insurance program that covers treatment of acute medical conditions or those conditions from which individuals usually recover. Medicare attempts to provide reasonably priced, quality health care to the segment of the population that generally lives on a restricted income. Medicare is provided in four parts, Parts A-D, and each part covers specific services. Most people eligible for Medicare are covered under the Original Medicare Plan. Individuals covered by this plan pay a portion of their health care costs as well as an additional premium, referred to as a deductible and coinsurance, for Parts B and D.

About Medicare Supplement

Medicare Supplement Insurance, also known as "Medigap", is meant to help pay for costs that your original Medicare plan does not cover. This might include out-of-pocket expenses such as co-pays, coinsurance, and deductibles. It is offered by private insurance companies. Medigap policies can often be identified by letters of the alphabet. It is important to compare the different types of policies and coverage options before signing up.

About Medicare Part A

Health insurance first became an employee benefit in the United States during World War II. Medicare Part A is commonly referred to as the Hospital Insurance and covers services considered to be medically necessary such as inpatient hospital care, critical access care, short-term care in skilled nursing facilities, hospice and home health care. Medicare usually does not pay for long-term care at home, in assisted living facilities or at nursing homes. Medicare Part A is free to most Medicare beneficiaries if the beneficiary or their spouse paid Medicare taxes while they were working. If an individual is not eligible to receive Hospital Insurance at no cost, the individual may be eligible to purchase Part A coverage if they meet eligibility requirements.

About Medicare Part B

Medicare Part B is referred to as Medical Insurance, and Part B covers medically necessary services such as doctor and outpatient care. Part B does cover some preventive services. Additionally, some occupational and physical therapies may be covered by Medicare Part B. Unlike Part A, Part B coverage does require a monthly premium. While standard premium amounts do exist, premiums can be higher for some beneficiaries than others. This is because Part B premiums may be based on beneficiary income. It is important to remember that Part B is not a 100 percent insurance coverage plan, and beneficiaries will be responsible for the balance of expenses not paid by Medicare and not all medical services are covered.