MEDICARE:
The Need for Medicare Supplement
Insurance
Even after Medicare pays its share of
health costs, patients may still owe large debts to hospitals,
physicians and other service providers. For this reason, many
people purchase Medicare Supplement insurance to cover the health
care costs that Medicare will not pay. A particular policy may
offer some of the following benefits:
Payment of Medicare Deductibles
$1,024 Part A hospitalization
deductible
$135 Part B deductible
blood deductible (first three pints)
Payment
of Cost-Sharing Amount
$296/day for the 61st
thru 90th day of hospitalization (up to $7,680)
$512/day for the 91st thru 150th day of hospitalization
(up to $30,720)
$128/day for the 21st thru 100th day of a skilled nursing
facility stay
(up to $10,240) 20% of approved physician's charges and
all other Part B expenses
Payment of Excluded Charges
prescription drugs taken outside a hospital
emergency
care in a foreign country
routine physical
exams
eyeglasses
and hearing aids
Medicare Tax and Premium
Medicare Part A is paid for by
a tax on wages payable to both employees and employers.
If you do not qualify for premium-free Part A benefits, you
may purchase the coverage if you are at least age 65 and meet
certain requirements. You may also buy Part A if you are under
age 65, were previously entitled to Medicare under the disability
provisions and you still have the same disabling impairment
but benefits were terminated because of your work and earnings.
If you do not qualify for premium-free Part A but had at least
40 quarters of covered employment, there is a cost for Part A. If you had fewer than 30 quarters or no quarters
of covered employment, there is also a cost for Part A.
Medicare Part B is purchased with a monthly premium of $96.40
in 2008 .
| Medicare Supplement
Companies: |
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American National |
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Blue Cross/ Blue Shield |
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Mutual of Omaha |
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Conseco Insurance Company |
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United Health Care |
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United American INS. Co. |
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Standard Life INS. Co. |
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United World Insurance Co. |
| Medicare Advantage
Companies: |
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Pyramid Life |
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Advantra Conventry |
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AETNA |
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United Health Caree (Pacificare) |
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