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Medicare
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| How Medicare works |  |
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| Who is in charge, and what is Medicare? The Health Care Financing Administration (HCFA) administers Medicare, the nation's largest health insurance program, which covers 39 million Americans. Medicare provides health insurance to people age 65 and over and those who have permanent kidney failure and certain people with disabilities. Medicare does not cover all medical services. Therefore, some people may want more insurance to fill the gaps in original Medicare coverage. Whether or not you need additional insurance is an individual decision. There are several types of supplemental insurance policies. Many private insurance companies sell Medicare supplemental insurance policies (Medigap or Medicare SELECT). Similar coverage may be available to retirees through an employer or union provided group health plan. If you are eligible for full Medicaid benefits, you may not need more insurance. Besides the standard Medicaid program, there are other programs that help certain low income Medicare beneficiaries pay their health care costs. These programs are known as the Qualified Medicare Beneficiary (QMB), the Specified Low-Income Medicare Beneficiary (SLMB) and the Qualifying Individual (QI) programs. While these programs do not take the place of supplemental insurance, they could save you hundreds of dollars, if you qualify. DO YOU NEED HELP TO PAY HEALTH CARE COSTS? If your income is limited, your State may help pay all or part of your Medicare costs, such as your premiums, deductibles, and coinsurance. To qualify - Your monthly income must be less than: $947 for an individual $1,265 for a couple AND Your bank accounts, stocks, bonds, or other resources must be worth less than: $4,000 for an individual $6,000 for a couple If you think you qualify for financial help, contact your State or local welfare, social service, or Medicaid agency. Your State Health Insurance Program can answer questions about Medicare and other health insurance. The services are free. You can get help in deciding whether you need more insurance and, if so, what kind and how much to buy. For more information look at a copy of the Guide to Health Insurance for People with Medicare distributed by the Department of Health and Human Services. This guide is extremely informative and can be downloaded by clicking the following link:http://www.medicare.gov/publications/guide.pdf |
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