Under the Affordable Care Act you have to be covered by health insurance or risk paying a penalty. So how does this work if you are a senior; is there a chance that an insurer will reject your application because of your age?
The Affordable Care Act, and the changes that have occurred around it, is actually intended to make things easier for seniors; if this applies to you then you should definitely not be rejected for health insurance.
Although there is a chance that your premiums will be higher as there is more of a chance of you having to claim against the policy. Of course the Medicare provision has been extended and action has been taken to reduce the “donut whole” coverage gap for Part D Medicare.
So how can you benefit from the Medicare System?
There will be a closer look at the individual parts of the Medicare program but suffice to say that the provision has been expanded to provide a better service for you if you are a senior and qualify. As part of the Medicare provision those who qualify can have access to some preventative services without having any out of pocket expenses. You can learn more about the various options on the HBF health insurance page & get protection for you & your family.
Some of these services include flu shots, and screenings for conditions such as diabetes and cancer. Over 37 million seniors received one or more of these services in 2013, with no out of pocket expenses.
How does Medicare work if you’re a senior?
As you get older you will probably need help with medical care more than ever. This makes it all the more important for the Medicare provision to be successful.
• Part A Medicare
This part of the Medicare system applies to costs for hospitalization and convalescence. You will not get full cover, and you are still likely to encounter high costs if your hospitalization is lengthy. It is intended as a safety net for people who need help to meet at least some of these costs. You do not have to pay any premiums to receive part A Medicare.
• Part B Medicare
Part B Medicare is intended to cover 80% of outpatient visits costs and therapy costs. Premiums for this type of Medicare are applicable and they are taken straight from social security checks. You shouldn’t think that this will necessarily mean you will escape high charges depending on what type of care you need.
• Part D Medicare
This type of Medicare helps with the provision of prescription costs. You’ll need to check with your pharmacist to discuss what level of part D Medicare you need. You need to make sure that you apply for this cover as soon as you become entitled when you are 65. If you don’t do this you may be penalized by having to pay higher premiums for the rest of your life. It is this part of the Medicare system where the Affordable Care Act is helping to reduce the “donut whole” coverage gap.