Medicare Program and Its Benefit to the American People
For all those who have worked in the US, the Medicare tax is one of the deductions that you ever have seen in your salary. It helps in that when one becomes eligible for Medicare, he or she will automatically receive this medical insurance. It is important therefore to understand that Medicare tax works to provide health insurance for the aged who qualify for the same. One thing people need to know is that the Medicare tax is not a yesterday thing as it starts to become effective in 1965 and has all along worked to provide health insurance for those over 65 years of age as well as those determined as disabled.
The Medicare program works in such a way that when you retire or determined to no longer be physically fit to work, it provides you with the health insurance you need. There is the need to know that one is needed to enroll for this program as it is not automatic. Also you need to understand that once you enroll, there are monthly premiums you will be paying. Once you know that you are about to enroll, it is best that you do it within the specified period to avoid being penalized.
When you turn 65 years of age or you have certain disabilities, there is the need to know that you qualify for the medical coverage or what is known as Medicare Part B. The part A is the hospital coverage and is usually separate from the part B and has its own costs and coverage through the qualifications are all the same. The enrollment to the program usually takes a period of 7 good months. With the first part, you need to start enrolling 3 months before you are sixty-five and the next three when you have already retired. Failing to enroll for Part B during this time makes you a subject to late enrollment penalty the time you enroll.
After you have enrolled, there is a Medicare open enrollment that usually begins on a specific day of October and ends on a given day in December. The period allows one to get to decide the perfect Medicare plan that they feel comfortable taking without the need of a special Medicare enrollment period. During this period, you will learn of all the available options that you can add on to part B as the page suggests.
Another important thing you need to know is that you can both have Medicaid and Medicare at the same time. There is a lot of Americans who have taken advantage of this special circumstance that is known as the dual enrollment. Retiring and getting a Medicare cover does not mean that you cannot continue working as the program allows that but with the exemption that you will make a given income as the website states.
If you happen to qualify for Medicare coverage, it is important to speak to a qualified representative to help you get a better understanding of the plan that suits you.