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Medicare
Medicare is the government run health insurance program for seniors and disabled people under 65. You can apply for Medicare three months prior to your 65th birthday and three months after. If you don't apply during those times you will be assessed a penalty or 10% for every 12 month period in which you weren't enrolled for Part B, unless you were still covered by a group plan. If you didn't sign up when you were eligible then you won't be able to until the General Enrollment Period of January 1-March 31 and benefits will not begin until July 1. If you had group health coverage and now want to sign up you can do so at any time. For most seniors there is no premium for Medicare A. Employees of the Railroad Retirement have their own program like Medicare and must enroll with them. For Part B there is always a premium currently of $96.20 per month that is deducted from their Social Security check. There are programs available for those on a limited income.
Medicare Part A covers hospital stays, home health services, hospice care, blood and a short term rehab stay in a skilled nursing facility.
Medicare Part B pays for physician visits, tests and screenings.
Medicare Advantage is an HMO, PPO, MSA or PFFS option that replaces your traditional Medicare benefits. There can be different costs on co-pays and deductibles than Medicare and this is not always the best option for everyone. Read the policy carefully and compare it to traditional Medicare.
See Medicare 2009 for actual benefits.
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