Managing Medicare out-of-pocket costs

People who receive Medicare benefits will need to pay for a significant portion of his or her health care costs. Just like private health insurance. Medicare will require you to pay coinsurance, premiums, and deductibles. However; there is a lot you can do to keep the costs manageable. Below are a few steps that can help you minimize your costs.  Supplemental Insurance:  Medigap polices, which pay for coinsurance, premiums, and deductibles. Medigap plans will cut down on irregular out-of-pocket costs.  Prepare for what is not covered: Medicare will cover many services...

Medicare Benefits for Seniors

According to a research conducted by the Henry J. Kasier Family Foundation 38 million Seniors are receiving Medicare benefits. Many of these seniors do no know basic facts regarding the Medicare program. The lack of knowledge can lead to financial strain in case of an injury or illness. However, there are three tips, which seniors can follow in order for them to better understand the Medicare program. Tip 1: Long-term Care insurance is excellent idea.The United Stated Board of Census estimates that about over 5% of seniors age 65 and older are in some type of nursing care...

Medicare Myths (Debunked)

  Medicare provides millions of retirees with financial security of knowing, which healthcare cost are likely to implode his or her dreams and hopes. Despite the importance of the program, many do not know much about the long-standing program and this leaves room for several misconceptions about Medicare and the future. Myth: Medicare pays for everything and is free! Fact: Part A only covers some healthcare costs. Part B on the other hand, will cover outpatient healthcare costs, and Part D will cover medications. Myth: Medicare is going bankrupt Fact: Medicare Part A...

Medicare reform makes room for better he...

April 14, 2015 made history, the passing of the long-overdue Medicare reform. The Medicare reform provides a framework for a more sustainable and stable Medicare program. The Medicare reform is just the start, but it provides a bold and strong road map for transitioning to new models of care, which is patient-focused, improve quality and will reduce overall costs. The reform will also remove barriers to innovation and will not only pave the way for digital health care to flourish, which will enable patients to take more proactive roles in his or her health, which will...