Being covered by health insurance is vital for people of all ages, but it is especially critical for those with disabilities and those with illnesses and chronic conditions associated with aging. This article is designed to provide you with basic information on Medicare – how it works, how it differs from Medicare advantage plans, and who is eligible.

Medicare Basics

The Medicare program is a federal health care insurance program for people over the age of 65 and the disabled. Medicare has two parts. Medicare Part A is a Hospital Insurance program, while Medicare Part B is a Supplementary Medical insurance (most people pay monthly for Part B).

Traditional Medicare & Medicare Advantage Plans

You can get your health-care coverage from Medicare in one of two ways: enroll in regular fee-for-service program through Traditional Medicare (Parts A and B) or in a Medicare Advantage plan (also known as Medicare Part C) through a health plan sponsored by a private company. To join a Medicare Advantage Plan, you must have Medicare Part A and Part B.

If you are enrolled in one of Medicare Advantage plans (HMO, PPO, PFFS, and SNP), you still have Medicare Parts A and B, but you get your health-care services through a private plan that has a contract with Medicare. Medicare Advantage Plans coverage can include prescription drug coverage. You pay your usual Part B premium, plus any additional premium that the plan may charge.

Medicare Advantage Plans may have lower deductibles and co-payments than Traditional Medicare and cover costs & services not covered by traditional Medicare. That’s why many people choose Medicare Advantage plans which offer affordable health insurance coverage.

Who Is Eligible For Medicare?

Eligibility is not based on financial need. Generally, if you are a citizen or permanent resident of the United States and one or more of these describes you, you are eligible for Medicare Parts A and B:

1) You are 65 years or older and eligible to receive Social Security;

2) You are under 65, permanently disabled, and have received Social Security disability insurance payments for at least 2 years;

3) You are under 65 years of age with end-stage renal disease (ESRD) and you or your spouse has met the Medicare work requirement.

If you already get benefits from Social Security or the Railroad Retirement Board, you are automatically entitled to Medicare Part A and Part B starting the first day of the month you turn age 65. You will not need to do anything to enroll.

Source: www.HealthInsuranceFinders.com

Medicare Enrollment Window Is Now

Navigating the myriad of choices in the Medicare program can be a daunting task for seniors today. Especially considering the changes to the program that have been enacted by Congress. Depending on your personal experiences, you may consider Medicare a blessing or a curse.

As the Medicare plans and options changed just a few years ago, so did the coverage levels that were offered and this left many scrambling trying to read through the paperwork and make decisions based on their personal needs. For many elderly people this was, to say the least a near impossible task, and once those choices were made, that was it, and they were locked into those choices.

Although many may not be aware, the yearly enrollment window is from November 15th to December 31st each year. Your window of opportunity to make changes to your Medicare plan is closing soon. Whether you make changes or you don't, you will be locked in to those choices for another year.

This yearly enrollment period is important because it is the time for you to assess your current coverage. If there are better options that you or your friends have discovered, then making changes is important. By now most of you have had time to assess how the Medicare experience is serving your needs.

The intent of the Medicare program is to serve the needs of the senior population. Considering that many people have constantly changing healthcare issues, the program's yearly enrollment period is important to address. The time to make changes is now. Even if you've been happy with your coverage, you will be well served to revisit your program coverage to assure you're getting the best care you need.