MEDICARE 101

Medicare can be an overwhelming experience for both new and experienced consumers. Medicare is constantly changing and trying to keep up with the complexities can be a daunting task for anyone. Let us take the burden away by putting our many years of experience to work for you by simplifying the process and fitting you with a program that best meets your individual needs!

Medicare is the federal health insurance program for:

• People who are 65 and older
• Certain younger people that qualify for disability 
• People with End State Renal Disease (ESRD)

Original Medicare is made up of your Hospitalization (Part A) which is an entitlement benefit your receive at no additional cost assuming you or your spouse worked a minimum of 40 quarters throughout your lifetime. Medical (Part B) comes to you at a monthly or quarterly cost depending on if you are receiving social security benefits at the time of your enrollment. Cost for Medicare Part B can vary based on income. Together Part A and Part B make up what is known as Original Medicare. Original Medicare covers 80% of your medical expenses leaving you with an exposure of 20%. The 20% exposure does not have a cap on it which means their is no ceiling to what you could be held liable for on Medicare. In addition to your exposure, Original Medicare does not include Prescription Drug Coverage (Part D) you must enroll for a Part D coverage through a private insurance company. For these reasons the vast majority of medicare beneficiaries will add additional coverage in the form of a Medicare Advantage or Medicare Supplement.

https://www.medicare.gov/

 http://healthandwelfare.idaho.gov