Richardson Medicare Insurance Plans
Ashford Insurance
Richardson Medicare Insurance Plans
What is Medicare?
Medicare is a health insurance program for people ages 65 and older, as well as those with certain health conditions and disabilities.
Medicare is a federal program that’s funded by taxpayer contributions to the Social Security Administration. You’ll typically pay 1.45 percent of your earnings toward Medicare, and your employer will match this amount.
Medicare has four parts. Each part covers different healthcare services you might need.
Currently, the four parts of Medicare are:
- Medicare Part A. Medicare Part A is hospital insurance. It covers you during short-term inpatient stays in hospitals and for services like hospice. It also provides limited coverage for skilled nursing facility care and certain in-home healthcare services.
- Medicare Part B. Medicare Part B is medical insurance that covers everyday care needs like doctor’s appointments, urgent care visits, counseling, medical equipment, and preventive care.
- Medicare Part C. Medicare Part C is also called Medicare Advantage. These plans combine the coverage of parts A and B and aspects of part D into a single plan. Medicare Advantage plans are offered by private insurance companies and are overseen by Medicare.
- Medicare Part D. Medicare Part D is prescription drug coverage. Part D plans are stand-alone plans that only cover your medications. These plans are also provided through private insurance companies.
Together, parts A and B are often called original Medicare. All four parts each have their own costs, including deductibles, copays, and premiums.
Are You Eligible for Medicare?
Generally, you are eligible for Medicare if you or your spouse worked for at least 10 years in Medicare-covered employment and you are 65 years old and a citizen or permanent resident of the United States.
If you are not 65, you might also qualify for coverage if you have a disability or with End-Stage Renal Disease (permanent kidney failure requiring dialysis or transplant).
Here are some simple guidelines. You can get Part A at age 65 without having to pay premiums if:
- You already get retirement benefits from Social Security or the Railroad Retirement Board.
- You are eligible to get Social Security or Railroad benefits but have not yet filed for them.
- You or your spouse had Medicare-covered government employment.
If you are under 65, you can get Part A without having to pay premiums if:
- You have received Social Security or Railroad Retirement
- Board disability benefit for 24 months. You are a kidney dialysis or kidney transplant patient.
While you don’t have to pay a premium for Part A if you meet one of those conditions, you must pay for Part B if you want it. It is deducted from your Social Security, Railroad Retirement, or Civil Service Retirement check. If you don’t get any of the above payments, Medicare sends you a bill for your Part B premium every 3 months.