Health insurance can be quite expensive in Indiana, and the average monthly premium is $552. However, qualified citizens over the age of 65 can qualify for Indiana Medicare insurance, along with individuals who have disabilities. The state offers various assistance programs for Medicare beneficiaries in Indiana, even though Medicare itself is a federal health insurance program.
Medicare Part A and Medicare Part B make up what is known as Original Medicare. Medicare Part A focuses on hospital insurance and covers inpatient hospital care, inpatient psychiatric care, hospice care, home health care, and inpatient skilled nursing facility care.
Medicare Part B covers medical services, which include doctor visits, outpatient hospital services, preventive services, and community health services.
Premiums for Medicare Part A are usually free if you have worked for the last 10 years and paid taxes. Each year you’ve worked you earn 4 credits for Social Security and 40 credits means that Medicare Part A is free. Those who have worked for less may have to pay $227 or even $413 per month depending on the number of credits earned.
Medicare Part B typically requires a monthly premium payment, and the lowest amount is $134 per month for those who earn less than $85,000 a year. Both Parts A and B have deductibles and copayments.
Aside from Original Medicare, Indiana residents can also opt for a Medicare Advantage Plan if they are qualified. Such plans are widely available in Indiana, from private health insurance carriers that have been approved by Medicare. They offer additional coverage for health services that are not covered by Original Medicare. These plans also include the same services that Medicare Part A and Part B cover. The Medicare Advantage Plan is also known as Medicare Part C.
Another type of Medicare Supplemental Plan covers the cost of prescription medication. This is known as Medicare Part D, and it is a common addition to Original Care coverage.
Other Medicare supplement plans can provide coverage for Medicare copayment and deductible amounts. Such plans may also cover various services that Original Medicare does not cover. For example, it can pay for an extra year of hospitalization after Medicare benefits end.
The Indiana Medicaid Program can also help cover the costs of Medicare for low-income beneficiaries in the state. These do have income and resource limits as part of the eligibility requirements.
The Qualified Medicare Beneficiary (QMB) program covers the cost of premiums for Medicare Part A and Part B, and it can also cover the cost of deductibles and copayments. To be eligible, an individual must earn less than $1,538 a month while married couples have an income ceiling of $2.078 per month.
Another program is for the Specified Low-Income Medicare Beneficiary (SLMB), and this program covers the cost of Medicare Part B premiums. An individual SLMB must have a monthly income of no more than $1,740 while couples must have a combined monthly income of less than $2,352.
The program for Qualified Individuals (QI) also covers the Medicare Part B premium, though this depends greatly on the funding of the program. This has a higher income ceiling of $1,892 per month for an individual while married couples can earn no more than $2,558 per month.
There is also an asset limit for the QMB, SLMB, and QI programs, though the assets don’t count the value of the home and furnishings as well as the car. It counts the value of savings accounts, certificate of deposits, stocks, and bonds. These assets must not be worth more than $7,560 for an individual, while a couple’s assets have a limit of $11,340.
Other Medicare beneficiaries may qualify for the Qualified Disabled and Working Individuals program. This pays for Medicare Part A premiums for qualified individuals who earn less than $4,105 a month. The limit for married couples is $5,499 a month.
Finally, there is the Extra Help program that pays for Medicare prescription drug costs. The individual limits are $1,386 a month for income with assets of no more than $9,060. Married couples cannot earn more than $2,078 a month, and resources have a limit of $14,340.
Indiana runs a State Health Insurance Program that provides information and counseling about Medicare and health insurance to the state residents. For more information, call SHIP at 1-800-452-4800.
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