Insurance: Examining your options
Understanding the aging process is essential to your physical health. Understanding the insurance process can be just as vital. If you are not part of a group plan established by your employer, here are some essential points:
- United States residents become eligible for Medicare benefits when they turn 65. Some people with bleeding disorders may qualify for Medicare much sooner than that if their condition is severe enough for them to qualify as disabled under government guidelines
- There are 4 parts to Medicare. They can be broken down as follows:
- Part A, which pays for hospitalization
- Part B, which covers major medical expenses
- Part C, also known as Medicare Advantage, which gives Medicare beneficiaries the option to receive Medicare benefits through private health plans
- Part D, which covers prescription drugs
Individuals under 65 years of age with income below 133% of the federal poverty level are also eligible for Medicaid.