Small Premiums for Good Health can Save Hefty Amounts on Treatments!
Medicare is an insurance program that helps people manage their expenses mainly towards doctor bills, hospitalization costs and prescription drugs. Several other related medical services are covered under these programs. These policies are categorized into 4 parts or groups. These plans are meant to help people who are 65 or older and those below 65 with some specified disabilities. It also includes people of all ages with permanent kidney failure that requires dialysis or kidney transplantation.
Below Are The Benefits Provided by The Different Parts of This Program:
- Part A: This takes care of the expenses towards inpatient services for acute care when the person is hospitalized or is recovering under nursing care. It also covers short-term healthcare at home. Some chronic illnesses such as heart attacks, kidney failure and cancer need hospitalization and intensive care for several days to weeks. These illnesses also mean repeated visits to hospitals, due to complications. And every such visit puts an additional burden on the patient’s pockets. Part A of this program, by covering these expenses, can help people to avail the treatments and to maintain their health without worrying much about how to manage the expenses.
- Part B: This covers the outpatient services such as doctor’s treatment, when not hospitalized. The Medicare Benefits of this part include lab tests, some essential medical equipments, home visits of doctors and some preventive measures.
- Part C: This is also called Medicare Advantage plan. These are managed by private insurance companies. These plans cover prescription drugs and vision or dental care. People have to pay an extra premium for availing the benefits under these plans.
- Part D: These are also called Medicare Prescription Drug Plans. These plans are provided by private insurance companies. The coverage of this group includes prescription drugs. Their premium varies depending on the drugs covered. As the age increases, the person becomes increasingly prone to developing diseases like hypertension and diabetes. These diseases need continuous treatment with antihypertensive and anti-diabetic medicines that are very costly. Part D covers these prescription drugs and provides great Medicare benefits to people by easing their healthcare expenditure. Besides several generic medications, under some specified terms, this group allows people to buy some branded drugs also.
How to Increase the Benefits Provided by Medicare?
People should know that Medicare does not cover everything. So, they may need to purchase a separate health insurance with a commercial service provider to cover the difference between the contribution of the original plan and the actual expenses of the medical services availed. The policies mentioned below can help them for this purpose.
- Medicaid: Medicaid is a separate program that helps patients with low incomes to pay their health expenses.
- Medigap Policy: This helps to pay for expenses that Medicare doesn’t cover. This adds to the Medicare benefits provided by the original policy and reduces the financial burden on the patient.
What can be a greater benefit than availing the medical services to maintain your good health without having to bother about how are you going to pay for it? At an old age, the sources of income start dwindling; but the expenditure on healthcare rises. The rising cost could be due to the illnesses that come with old age and also due to the rising prices of essential drugs and doctor’s services. Every person needs financial assistance to manage the reverse directions of the income and expenses. A Medicare insurance policy is the best aid for people to manage this problem.