Here’s how Medicare insurance plans work
Here’s how Medicare insurance plans work

Prevention is surely better than cure.  There are times when things crop up when we least expect it or are prepared for it. Falling ill is certainly one of them. This is exactly why we invest in health insurance policies, for those unforeseen circumstances.

Medicare, a federal health insurance plan, is typically for senior citizens who are 65 years or older. But those younger than the mentioned age and suffer from certain illnesses like Lou Gehrig’s disease or end stage renal failure also qualify for the program. Just when a steady income flow ceases with your retirement, the Medicare entitlement program is a blessing for quality medical care. Working, earning and paying taxes for a substantial period of your life gives you the right to enjoy Medicare benefits as you age. And for those who aren’t lucky that way, paying a little extra premium lets you enroll and benefit from the Medicare insurance plans.

Medicare insurance policies surely are plenty and advantageous as they help to integrate the costs of both doctors and hospitals, and increase its appeal with additional coverage schemes.  The variety of Original Medicare includes hospital insurance and medical insurance, for a cost anywhere between $110 to $140, depending on your income. Private insurance companies who are authorized by Medicare offer Medicare advantage plans for an additional premium over the basic cost. Apart from these, another choice is to pay monthly premiums for a Medicare Prescription Drug Plan.

Medicare works in collaboration with other insurance policies that you might have and provides coordinated benefits for you. While the primary payer pays till its coverage limit, the secondary (and tertiary payer, where applicable) subsequently pay all the costs that remain unpaid, after the first payer does his part.

While finding a Medicare policy comes easy it is important to read, research, and weigh the options thoroughly, and match it with your specific needs before picking the right Medicare plan.