Medicare is a health benefit usually available to seniors over the age of 65, as well as others under certain circumstances. There are 2 parts to Medicare, Part A and Part B. Part A is hospital insurance and is free for nearly eligible senior citizen, as long as you or your spouse has paid at Medicare taxes for at least 10 years. Part B is actual Medicare insurance that everyone who chooses to include must pay for. The full cost of Part B is currently $96.40 a month, according to information provided by the official government handbook, “Medicare and You”, although some individuals pay varied amounts, depending on their income levels. If you’re a current Medicare beneficiary, the following 5 tips may be useful and assist you in saving money in ways you never knew was possible.
Aways Get a Supplement
If you don’t currently have a Medicare supplemental insurance, you could be paying a lot more money than necessary. The key is making sure that you choose the right company, which may prove to be difficult considering the amount of different companies that provide insurance. According to Charlene Frizzera, acting administrator for The Centers for Medicare and Medicaid, the best time to enroll in a supplemental insurance plan is during the first 6 months of becoming eligible for Medicare. By signing up early, you avoid being denied insurance because of any possible preexisting conditions. Supplemental insurance will pay for anything not covered by Medicare, and can save you a bundle if you go to the doctor regularly.
Centers of Excellence – Bariatric surgery
If you are considering undergoing weight loss surgery in order to combat morbid obesity, as stated in the Medicare Handbook, it is usually a covered benefit if the surgery is considered medically necessary. If you do decide to enter into a surgical weight loss program, just make sure that the facility you choose is a Center of Excellence. You don’t want to waste your time and money going through a surgical weight loss program that isn’t a Center of Excellence, because warns Frizzera, Medicare will not cover the costs of bariatric surgery unless the facility is a Center of Excellence.
Certified Home Health Care Agencies
If sometime in the future you require care provided by a home health care agency, be careful not to choose just any agency. Usually only certain agencies are contracted with Medicare, depending on which particular plan you have. It is a good idea to find out of the agency is certified by Medicare first, to avoid any unexpected surprises or costs.
Optimal Prescription Coverage
If you’re having trouble paying for your prescriptions each month, it is imperative that you check your prescription coverage plan in order to ensure that it fits your needs, urges Charlene Frizzera. Although open enrollment won’t be available until November, by knowing exactly what your prescription plan covers and doesn’t cover, it can help you decide whether or not you need to apply for assistance to pay for medications that you may not be able to afford. You also have the option of opting for generic drugs, which can sometimes be purchased for merely $3 – $4 at pharmacies like Walmart, Target and Walgreens, depending on the medication.
Medicare Part C
This part of the Medicare plan should definitely not be overlooked if you’re looking to save as much money as you can. Medicare Part C combines Medicare Parts A & B and also includes part D, in one cost-effective package, explains the Medicare Consumer Guide. If you want to learn more about signing up for Medicare Part C, simply contact your Medicare representative and he or she can assist you.
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