Updated on February 20, 2018
Medicare is a baffling topic of conversation no matter which state you live in. From the amount of phone calls you receive to the stacks of mail on your dining room table, it seems like there's an endless amount of information you need to know before joining the system. Luckily, there isn't! If you live in Nevada and are in your initial election period, which is six months before you turn 65 and six months after your birth month, keep reading this article! We at Medicare Supplements Made Easy are dedicated to making your switch over to Medicare as easy and as seamless as possible.
Let's begin with the basics. Medicare is a federal program and a tax-free benefit to eligible beneficiaries. Upon your 65th birthday, Part A, or your hospital coverage, will begin automatically the first of that month or the month prior if you were born on the 1st. Part B, or your doctor coverage, must be applied for three months before your birth month if you're not already drawing social security benefits, and also begins on the 1st of your birth month. Part A is at no cost to you while Part B has a premium of $99.90 a month in 2012. The premium is income based so the premium may be higher depending on your earnings. Part A and Part B, hospital and doctor coverage respectively, make up the basics of Medicare. Together they will cover 80% of all doctor and hospital bills.
Part C of Medicare, better known as Medicare Advantage plans, are a separate entity and are offered through private insurance companies to combine hospital, doctor, and prescription costs. The $99.90 that would normally go back into original Medicare is given to the private insurance companies as a premium. Your care is then coordinated by that company, meaning that you must abide by their network restrictions and copayment amount for each procedure. Medicare Advantage plans are offered through several companies in the form of HMOs, PPOs, and POS plans. They're low in monthly premium, however, you are exposed to maximum out-of-pockets that are $5,000 per year and up in a catastrophic situation.
If you choose to take out Medicare Supplement Insurance in Nevada, you will be making the best choice possible. With Medicare Supplement Insurance, the remaining 20% of all doctor and hospital bills can be covered completely under a low monthly premium. There are lettered plans A-N with Plan F being the most common choice as it covers ALL remaining doctor and hospital bills. Call us at 800-218-7935 for companies and prices in Nevada FREE OF CHARGE! We help you from start to finish. It's that easy!