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Medicare Plans

Medicare Plans
Medicare Plans were first introduced in the USA back in 1965. Congress created Medicare under Title XVIII of the Social Security Act. It’s purpose, to provide health insurance to people age 65 and older. Back in those days, Seniors paid a medicare premium of $3.00 a month. Medicare premiums for 2013 are certainly a lot higher now.  There are premium exemptions for those with lower income levels though.

Since the original medicare program was introduced, medicare plans for Seniors have become available in a variety of plan types. Today Seniors can choose medicare plans that fit their lifestyle, health condition and income level. Some of the medicare plans you may be familiar with are medicare advantage plans. Supplemental medicare insurance and prescription drug plans are other optional plans for Seniors. Read more about these plan types below.

Medicare Plans Enrollment

Seniors in America should be enrolling in the federal medicare program when they are 64 years and 9 months old. This will make sure that their medicare plan benefits begin on the month they turn 65. For those Seniors already on medicare there are certain time periods where you can change medicare plans. Here are two steps for acquiring medicare that should not be overlooked.

  1. Make sure you enroll in medicare beginning at 64 yrs 9 months.
  2. Compare different medicare plans to choose the best plan for you, by getting medicare quotes online.

Types of Medicare Plans

In 2013 there are plenty of options for Seniors when choosing medicare plans. The original plans typically pays about 80% of medical bills after the deductible. Not all doctors take medicare patients, that is one of the reasons why finding the right plan to fit your individual needs is important.  Here are details on three medicare plan types to investigate.

  1. Medicare Advantage Plans: These are medicare approved plans that are administered by private heath insurance companies. They generally have additional benefits like prescription drugs, dental care, hearing, vision care and more. These plans are also know as Medicare Part C.  These medicare choice plans do offer desirable choices that 4 in 10 medicare beneficiaries take advantage of. Find Medicare Advantage Plans.
  2. Medicare Supplemental Insurance: These type plans are meant to provide additional insurance to cover some of the costs that the original medicare plan does not pay for. Depending on your health condition a supplemental medicare plan could be the best bet. Those Seniors not in the best of health can benefit the most from a medicare supplement plan. Find Medicare Supplemental Plans.
  3. Prescription Drug Plans: Prescription Drug Plans for Seniors provide insurance for prescription medications. These PDPs can be included in a medicare advantage plan or bought as a stand alone PDP. Costs and the benefit received will vary per plan. Find  Prescription Drug Plans

What is the medicare process and how does it work is a 4 minute video by Humana Medicare.
Find Humana Medicare Plans in your state.

Medicare Plans in the News

Bloomberg. Rep. Paul Ryan defends the Republican budget plan. Fox News. He is the Chairman of the House Budget Committee and he recently unveiled the GOP’s budget plan that proposes 3.3 trillion in deficit cuts by overhauling Medicare and the tax code among other things. Last week President Obama attacked the Republican Gulleson GOP budget hurts Medicare farm bill In-Forum. Bloomberg View The Obama and Ryan Budgets Have a Lot in Common Business Week. How the Banks Endangered Medicare New York Times blog TIME blog The News Journal Wall Street Journal blog all 76 news articles. Rep Paul Ryan defends the Republican budget plan Fox News

Voters face choice on Medicare plans. Nashua Telegraph. To respond to Emily Bloch’s letter regarding the changing of Medicare April 4 Ryan endorsement rather predictable both Rep. Paul Ryan and President Barack Obama’s plans will change Medicare as you know it and to believe otherwise is to be badly.  Voters face choice on Medicare plans Nashua Telegraph Find more Medicare News in the blue box below…

Medicare Plans article updated Jan 23, 2013.