Being healthy is being wealthy, as what most people say. But sometimes, no matter how much we take care of our bodies, diseases come, mostly during the time we least expected it. And in the moment that we already have it, it absolutely jeopardizes more of our finances. Due to this possibility, having a medical health insurance come to be a precious must have for every human being.
Health insurance services like the medicare for example can benefit the insured in a lot of ways. Yet fundamentally speaking, this offers a peace of mind with regards to hospital and medication expenses to the insured and possibly, to its beneficiaries.
Before we discuss some of the major medicare insurance plans that exist, let us address first a particular perception about having a health insurance. Several men and women may have the idea that health insurance will be a disadvantage rather than an advantage because they can only enjoy the money they have invested in a company only when they become ill. Certainly, some of health insurance policies will not spend any amount if your health is fine. But the bigger concern now is, will you still be completely healthy by the time you reach 65 or more? Well, I think it would be better to be insured in medicare or any reputable health insurance company rather than dying from expensive medical expenses.
Now, the health insurance provided by the government called medicare, may have the necessary criteria namely, persons aging 65 and above, young and disabled, and End Stage Renal Disease (ESRD) patients in which dialysis or transplant is a must. The policies will go over several forms of solutions which will be quickly discussed below.
The Hospital Insurance Plan
Essentially, this insures the hospital expenses and some other costs in certain medical care centers.
II. Medical Insurance
Fundamentally, insures specific physician’s fees, healthcare materials and supplies, some out-patient treatment, and some disease prevention solutions.
III. Medicare Advantage
This plan is made possible through private companies as permitted by Medicare. It addresses both the coverage in I and II but have extra programs like Private Fee-for-Service Plans and special needs plan among many others.
Part D: Prescription Drug Plan
This is an optional plan that can be added in the original medicare. In essence, not all medicines are included in I and II. In this option, the insured will have the advantages of getting certain prescription medicines.
V. The Medigap
This is one of the medicare supplement plans that is operated privately and supplements the original medicare (A and B). In contrast to MA plans, it only connects the gap (uncovered items) of the original medicare plan.