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One of the greatest gifts in life is good health. Bad health or lack of access to good and affordable health care is always one of the biggest burdens anyone can have especially if one is not working.
Medicare Health Insurance Program
Luckily, the Federal government has some programs dedicated to ensuring affordable health care for citizens of the United States. One of these programs is the Medicare health insurance program.
This health insurance program seeks to subsidize the cost, of receiving health care through paying certain health care expenses. The Centers for Medicare & Medicaid Services (CMS) which is a part of the United States Department of Health and Human Services (HHS) is responsible for administering Medicare.…
Most Americans retire between the age of 62 and 65. At/after this age, one’s health starts getting deteriorated significantly. After all, health declines with age.
It is, therefore, necessary for those going into retirement to obtain appropriate and pocket-friendly healthcare coverage.
For those aged 65 and above the Medicare program is suitable because it will make health insurance cheaper. What’s more, even those with pre-existing conditions are eligible.…
When an eligible US citizen turns 65 years old, they can apply for Medicare Insurance on the Medicare.gov website. Regular health insurance will stop once a person turns 65 years old. As a senior citizen, you probably know, there are alternatives to original Medicare (Part A & Part B) you have a choice of selecting a Medicare Supplemental plan (also called Medigap plan) or a Medicare Advantage plan (Part C).
Nowadays, many seniors prefer to go with a Medicare Advantage plan over original Medicare since they are required to cover the same things at a minimum and have additional benefits, plus the out of pocket expenses may be lower since there is an annual limit on the out-of-pocket-max.
Most seniors have a difficult time deciding which insurer or what …
For coverage in 2016, open enrollment for Medicare will be from October 15 to December 7, 2015.
During the annual enrollment period (AEP) you can make changes to your healthcare coverage in some of the following ways.
- You can switch from the Original Medicare to Medicare Advantage or if you already have Medicare Advantage you can switch or Original.
- You can switch Medicare Advantage plans or Medicare Part D (prescription drug) plan to another.
- If you didn’t enroll for a Medicare Part D plan, you can do so during this enrollment period however, there may be a late fee applied.
If you would like to enroll in Medicare Advantage there is some criteria you must meet. You must be enrolled in Medicare Part A and B, you must live in …
Necessity of Medical Planning
As we grow old we tend to attract illnesses and diseases due to reduced immunity and resistance. In today’s life as the medical expenses are going beyond reach. Once you enter this period of your life, your shrinking income will make you worry for any unexpected medical emergencies. The body in these weathering years of life needs better care and timely medical checkups.…
The most noteworthy ramifications of the Patient Protection affordable health insurance Act of 2010, otherwise called “Obama care,” are practically around the bend.
Notwithstanding having colossal impacts on protection in 2014 and 2015, the enactment likewise affects income taxes.
The medical insurance incorporated a few expense law changes for 2013 government wage assessment forms due April 15, 2014:
- Employees can deduct the aggregate sum paid by them and their employers for health insurance premiums. Just enter the sum in Box 12 with Code DD on your Form W-2 when prompted by your tax return software.
- If you itemize, the edge for deducting Medicare advantage costs is increased to 10 percent of your AGI. The benefit for citizens age 65 and more stays at 7.5 percent.
- A 3.8 percent assess
Medical insurance is the primary way to avoid paying massive medical bills when you get sick. A health emergency is something that can come up any time and at any place. Once a health problem or injury hits you, it becomes very difficult to negotiate for a reduction in medical bills.
Why not negotiate medical bills in the moment?
Negotiating your medical bill is often tough in the moment, because of the stress of being sick. In these instances, a person can’t recognize what to do and what not to do. Only after coming out of the problem does the injured party confront how big a part of his earning he just spent on treatment.
5 best ways to avoid large medical bills:
There are many people who chose to enrol in a Medicare Advantage plan, sometimes referred to as a MA plan. A Medicare Advantage plan is a private health insurance programme that can provide additional benefits compared to an Original Medicare plan.…
With people across the world living longer, it is important that they consider getting better medical insurance. Taking into account the chance of soaring costs with medical care, and the fact that long-term care may be needed as you get older.
You need to think of your medical insurance policy as an investment into your future health and well-being, rather than just another bill that you have to pay. Ensuring that you consider how your health may deteriorate in future years, and who will care and look after you.…
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