Understanding Medicare Benefits
Posted on September 2nd, 2009
While nobody knows how any potential health care bill that is passed by Congress will impact current or future Medicare recipients, many people don’t understand the current Medicare system and what it covers.
Medicare is our country’s health insurance program for people age 65 or older, for individuals who have have been found disabled by the Social Security Administration, and people of all ages with End-Stage Renal Disease (permanent kidney failure treated with dialysis or a transplant). The program helps with the cost of health care, but it does not cover all medical expenses or the cost of most long-term care.
Medicare is financed by a portion of the payroll taxes paid by workers and their employers. It also is financed in part by monthly premiums deducted from Social Security checks.
If you are found eligible for Social Security Disability, your entitlement to Medicare benefits will not begin until 29 months after the date upon which you have been found disabled. If you are not on Social Security Disability and you want to begin Medicare benefits at age 65, you should sign up for Medicare about three months before you reach age 65. You do not have to be retired to enroll in Medicare. The Social Security Administration web site has a very helpful Medicare Eligibility Tool which will help you determine when you are eligible for Medicare benefits. www.medicare.gov/MedicareEligibility
Medicare has four parts:
Part A: Hospital insurance that helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care and hospice care.
Part B: Medical insurance that helps pay for doctors’ services and many other medical services and supplies that are not covered by hospital insurance.
Part C: Medicare Advantage plans are available in many areas. People with Medicare Parts A and B can choose to receive all of their health care services through one of these provider organizations under Part C.
Part D: Prescription drug coverage that helps pay for medications doctors prescribe for treatment.
To discuss your rights to Social Security Disability or Medicare, you can call the lawyers at Oxenburg and Franzel at 215-563-8400. You can also get more detailed information about what Medicare covers from the booklet, “Medicare & You” (Publication No. CMS-10050) by calling the Medicare toll-free number, 1-800-633-4227, or go to www.medicare.gov.
Health reform will not cover very much long term care, at least nothing close to what long term care insurance covers.