Simple questions like ‘What is Medicare?’ or ‘What are my health care options?’ are oftentimes followed by complex answers. Medicare beneficiaries, their loved ones and caregivers may be left even more confused and even doubtful about their health care coverage.That’s why Touchstone Health created this “Medicare 101″ series in everyday language. We will dive into world of Medicare, breaking down benefits into easy to understand informationThis four part series will explain:Original Medicare
Medicare Parts A and B
Medicare Parts C and D
Your Medicare Coverage Options?Part I: WHAT IS ORIGINAL MEDICARE?In this first installment of Touchstone Health’s “Medicare 101″, we are going to explore the ins and outs of Original Medicare.So What is Original Medicare?
Medicare is a fee-for-service health insurance plan provided by the government. Fee-for-service means you have to pay a set amount for each type of service you get before Medicare pays its share.Original Medicare is composed of Parts A and B, providing coverage hospital and medical insurance coverage directly. Part A is hospital insurance, which helps cover inpatient care in hospitals, skilled nursing facilities, hospices and home health care. Part B is medical insurance, which helps cover doctors’ services, hospital outpatient care and home health care. Part B also helps cover some preventive services to help maintain your health.Who Can Get Original Medicare?
To be eligible for Medicare, you must be 65 or older, under 65 with certain disabilities, or have End-Stage Renal Disease (ESRD) – permanent kidney failure requiring dialysis or a kidney transplant). You may be automatically enrolled in Part A and Part B under certain circumstances.If you are turning 65 within the next 3 months, or have turned 65 within the past 3 months, now is the time to select a plan if you haven’t already done so. Waiting too long could leave you without medical coverage and cost you more in the long run.Call Social Security at 1-800-772-1213 for more information about your Medicare eligibility, and to sign up for Part A and/or Part B.What Do You Pay with Original Medicare?
You usually have to pay a deductible (a set amount for your health care) before Medicare pays its share. Then, Medicare pays its share, and you pay your share (coinsurance/copayment) for covered services and supplies. There is no yearly limit for what you pay out-of-pocket.You may be eligible for premium-free Part A coverage. However, you usually pay a monthly premium for Part B.Can You Go to Any Doctor or Hospital?
You can go to doctor, supplier, hospital or facility that is enrolled in Medicare and is accepting new Medicare patients.Are Prescription Drugs Covered?
Most prescription drugs are not covered under Original Medicare. You need to sign up for a Part D Medicare Prescription Drug Plan if you want comprehensive prescription drug coverage.Do You Need to Choose a Primary Care Doctor?
No.Do You Have to Get a Referral to See a Specialist?
No, but the specialist needs to accept Medicare.How Do You File Claims? You usually don’t need to file Medicare claims. The law requires providers (like doctors, hospitals, skilled nursing facilities, and home health agencies) and suppliers to file your claims for the covered services and supplies you get.- – - – - – - – - – - – - – - – - – - – - – - – - – - – - -
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Health Care is a Bright Light in a Dim Economy For Investors
Health care has always been a safe stock in the face of disaster. No matter how bad the economy is, people still get ill, thus they need medical care before anything else. Health care stocks are holding up better than the rest of the market. Up to January 25, the Morningstar health care sector is down less than 4%, of ten wide market sectors, thus making it the top dog. There are companies that recognize this trend and are pushing ahead.Healthcare of Today Inc has been continuing its plan for the acquisitions of healthcare companies despite climbing fears in other sectors of the economy. Now with a new president and new hopes in country, there calculated risk may have been perfectly timed.In a statement from the CEO (Henry Jan) he said, “We are aware the financial markets have hit hard times, but we remain committed to our company goals, while staying on top of what has happened elsewhere.” We are very excited about our success as we know our business plan is a good one, this allows us independence from the uneasy banking systems. All signs point to continued growth for the healthcare sector, and we’re going to continue to take advantage of our solid position with regard to health care projections. We need to continue forward, now more than everWhile people are losing there jobs across the country in a variety of industries, the Health Care job market has not been suffering the same fate. Jan says “the sectors of healthcare that we have handpicked to work with need us as much as we need them; Nursing schools and nursing services couldn’t be better-timed with regards to the nursing shortage that exists, as it regretfully continues to burden health in our country.”Healthcare of Today is a holding company intent on acquiring companies within the healthcare industry. Through its subsidiaries, Healthcare of Today is vertically-integrating a variety of businesses including: pharmaceuticals, residential care facilities for the elderly, home healthcare services, adult daycare, a private chef network, nurse job placement, nurse education, insurance, home care services, real estate brokerage/relocation services and in healthcare information technology.Every now and then, a company that’s enjoying good earnings growth and an upward-trending stock price will get knocked from its high horse. Sometimes, the fall is sudden. Other times, it occurs gradually. But it still happens, even in Health Care. What is making Healthcare of today so successful is its focus within the sector. Therefore an investor can just say Health Care of not Healthcare; they should do a bit more research on what is being done within healthcare.For example Nutritional-supplements maker NBTY had great expectations due to the reported monthly sales results and preliminary quarterly results, thus requiring Wall Street to drop its expectations for the company’s revenue increases; the stock had taken a hit since the spring. But recently, NBTY revenue rose a healthy but unimpressive 6%. These trends are good for shareholders. NBTY event though it took a hit and does not show the same prospect as Health Care of today inc, it is headed in a positive direction, and expectations now stand at more reasonable levels than back in the spring.So there it is, it is not all doom and gloom these days, Health Care is a strong beacon of light in what has been a dim economy. In times like these Luxury items tend to drop first, however Health Care is no luxury item.