Medicare, including Illinois Medicare Part B, was created in 1965 as part of the Social Security Act and is an entitlement health insurance program that provides coverage to those 65 years old or older, the permanently disabled, and those who receive dialysis, are diagnosed with end stage renal disease or need a kidney transplant.
Medicare is operated as an entitlement program; therefore, it is not based on financial need, and as a matter of fact, those who are aged 65 are automatically enrolled in the program.
Created and funded by the federal government, Medicare was designed to help the elderly pay for necessary medical care. Medicare, unlike Medicaid is not a free service. People who are enrolled in Medicare may need to pay a monthly premium, coinsurance fees, copayments and deductibles. All of these fees increase every year in January.
There are currently four types of Medicare plan. Two are offered through the United States government, and those who are 65 years old are eligible and are automatically enrolled in them. The other two plans are offered through private insurance companies and you must elect to enroll.
Medicare Part A is an auto enrolled program through the government offering hospital coverage. This plan helps pay for any in-patient care that you may receive at a hospital, hospice or under certain conditions, home health care services. Under Medicare Part A, if you or your spouse paid Medicare taxes for a certain amount of time (10 years), then your Part A premiums are free.
Illinois Medicare Part B is known as medical insurance and covers doctor’s visits and outpatient care expenses as well as several preventative services like flu shots. You must pay a premium each month for Medicare Part B.
Medicare Part C is insurance regulated through the government but offered through private insurance companies. You must actively choose to enroll in one of these types of insurance plans and pay the premiums, coinsurance, copayments and deductibles under your individual choice. Part C plans cover everything that Part A and B cover but often have extras such as dental, vision, and prescription drugs as well. You must do your own research to choose which Part C plan is the right plan for your needs and wallet, as these plans can vary wildly according to type, benefits and cost.
Medicare Part D is also purchased via private insurance company and regulated. Medicare Part D specifically covers prescription drugs and also has many different policies and options with it. You must do the research to choose a Medicare Part D plan for the same reasons as Part C.
Need more information about the different parts of Medicare including Illinois Medicare Part B and how you can be best served by the program? Give us a call or obtain a quote via our fast free quote engine at www.ABCHealthPlans.com.