Health insurance has always been a thorny issue, and not all Americans have access to proper health insurance coverage. However, the residents of Alabama do have options, and one of them is Alabama Medicare insurance.
Medicare is a health insurance plan designed to offer proper insurance coverage for citizens and certain qualified individuals who are older than 65. People with particular disabilities may also qualify for the said program.
The federal government sponsors Medicare, but in many cases, the state can offer assistance in many ways to help residents understand and perhaps even afford the costs of Medicare. This depends on the person’s specific circumstances.
Residents of Alabama may be able to access various types of Medicare Plans. These involve Medicare Part A which focuses on hospital insurance and inpatient care and Medicare Part B which concentrates on medical insurance and the coverage of medical services and supplies for medically necessary treatments.
Qualified Alabama residents may also approach private health insurance carriers who have approval from Medicare. These carriers can then offer Medicare plans that provide the complete coverage that Medicare provides, although additional services may be included as well.
Alabama Medicare Advantage plans are examples of what you may obtain from private carriers. These plans provide at least the same coverage that you may receive from both Medicare Part A and Part B. These may have extra benefits as well.
Medicare Part D plans are meant to cover the costs of prescription drugs. With the elderly, prescription drugs can be a much more common expense. The Part D can combine with Parts A and B to provide a more comprehensive type of health insurance coverage.
You may also be able to purchase Medicare Supplement Insurance Plans. These can be bought to add coverage to Medicare Parts A and B. The supplemental plans offer coverage for coinsurance, deductibles, and copayments required in Part A and Part B of Medicare. Also, the supplemental plans may also cover services that are not covered by Part A and Part B.
Typically, you may have to pay a premium for any of these plans. The cost of the health insurance will depend on the plans you obtain and the private carrier you’re purchasing them from.
Medicare isn’t always free, and in some cases, qualified individuals may have to pay a premium. It can be in fact expensive for you especially if you require constant medical services and prescription medication.
If you meet certain qualifying guidelines, you may be eligible for Medicare Savings Programs (MSP). These programs offer Alabama residents assistance in paying for the costs of Medicare. There are 4 of these programs, and each has its own set of benefits and qualifying rules.
First is the program for Qualified Medicare Beneficiaries or QMBs. The program helps cover part of the cost of the premiums for Medicare Part A and Part B. It can also cover cost-sharing, copayments, and deductibles expenses. Individuals can qualify for these plans if their monthly income does not exceed $1,032. Married couples are eligible if their combined monthly income is less than $1,392.
Another program is for Specified Low-Income Medicare Beneficiaries or SLMBs. This offers financial assistance on covering Medicare Part B premiums if an individual’s income per month is less than $1,234. For married couples, the combined monthly income ceiling is raised to $1,666.
Qualified Individuals or QIs can also enjoy certain Medicare savings with help in paying for Medicare Part B premiums. This QI program offers assistance to individuals whose monthly income does not exceed $1,386. Married couples can qualify if their combined monthly income is within $1,872.
There is also a program for Qualified Disabled and Working Individuals or QDWIs. This applies to workers with certain disabilities, and whose income per month is no higher than $4,105. For married couples, this ceiling is $5,499.
Finally, there is also the Low-Income Subsidy Program for individuals whose income is within $18,090 per year with resources no greater than $13,820. The annual combined income limit is $24,360 for married couples with a resource limit of $27,600.
It’s understandable if you still have questions as a Medicare beneficiary, but you can find your answers from Alabama’s State Health Insurance Program or SHIP. Medicare beneficiaries can receive one-one counseling that’s also completely confidential.
Speak to a licensed agent today