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What You Need to Know About Medicare Coverage

Every American employee have the Medicare tax deducted by their employer as required by the law. It helps in that when one becomes eligible for Medicare, he or she will automatically receive this medical insurance. One thing that you need to understand however is that this form of tax helps to offer health coverage for the aged since it becomes effective in 1965. However, it remained true to its foundation which is to provide health insurance for the elderly and those with certain disabilities.

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. Additionally, you will be penalized if you do not enroll within the given timeframe or follow the given rules.

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. The first 3 months are usually before you turn 65 and the ending the others after you have turned 65. Failing to enroll for Part B during this time makes you a subject to late enrollment penalty the time you enroll.

The other thing that follows after the initial enrollment is the Medicare open enrollment that starts in October and ends on December on specified dates. It is during this time that one has a chance to choose a different plan without the need of Medicare Special Enrollment Period. You can decide whether you want a separate Part A, B and D plan which includes drug medication coverage or and an all-inclusive Medicare Advantage Plan.

It is important to know that you can qualify for Medicare and Medicaid altogether at the same time. If you want to add on to your Medicare advantage joining the dual enrollment program as it is known will mean more health benefit for you. Also, you need to understand that you can get Medicare and continue to work as long as you meet a certain income.

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.

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