If you are older than 65, you may qualify for Arizona Medicare insurance. This is a health insurance program sponsored by the federal government, but the state of Arizona offers public programs that can assist you in understanding Medicare guidelines.
Original Medicare comes in Parts A and B. Part A covers hospital inpatient care and other similar services, while Medicare Part B concentrates on medically necessary services and supplies for your health.
When you apply for Medicare, you may enjoy the health insurance with no need to pay for premiums. If you exceed income limits, however, you may have to pay part of the premiums. You may also have to deal with copayments and deductibles.
If you wish to obtain health insurance benefits that are not covered by Original Medicare, you may opt to get Medicare plans from private insurance carriers. These will require you to pay monthly premiums as well.
These carriers may offer Arizona Medicare Supplement Insurance Plans, which you can buy if you already have Medicare Part A and Part B. These supplemental plans cover the cost of deductibles, copayments, and coinsurance. They may also cover medical services that are not covered by Original Medicare.
Another type of Medicare plan is the Arizona Medicare Plan D. This can be added to your Medicare Part A and Part B, as Plan D helps cover the cost of prescription drugs.
Medicare Advantage Plans (also known as Medicare Part C) are also available from private insurance. These cover all the hospital and medical services that are covered by Parts A and B, and they also typically offer even more additional covered services.
Some residents of Arizona may find the cost of Medicare too expensive, especially when they have a low income and are saddled with the expense of regular treatments and prescription medication. To alleviate this burden, you may avail Medicare Savings Programs (MSP) that can help cover the costs. However, the level of financial assistance you receive will depend on several factors, including your income.
The first program is for Qualified Medicare Beneficiaries. These QMBs receive financial assistance to help pay for the cost of the premiums for their Medicare Part A and Part B. it can also cover the cost of deductibles and copayments. An individual must not earn more than $1,025 a month, while a married couple cannot earn more than $1,374 a month.
The next program is for Specified Low-Income Medicare Beneficiaries (SLMB). The SLMBs receive help to pay for the premium for Medicare Part B. If you’re applying as an individual, your income cannot exceed $1,226 per month. Couples can qualify if their combined income does not total more than $1,644 per month.
You may also be eligible for the program to help Qualified Individuals (QI). QIs receive Medicare savings with assistance to pay for Part B premiums. An individual’s monthly income cannot exceed $1,377 while the combined monthly income of a married couple must be under $1,847 a month.
There’s also a program to assist Qualified Disabled and Working Individuals (QDWI). If you’re one of the eligible QDWIs, your monthly income must be within $4,105. If you’re part of a married couple, your combined income should be less than $5,499 a month.
Extra help is also available through the Low-Income Subsidy Program. Individuals must have an income of no more than $18, 090 for the year, with resources (such as a bank account) with a combined value of no more than $13,820. For married couples, the income ceiling is $24,360 for the year and $27,600 for resources.
In 2017, these are the income ceilings that Arizona residents had to abide with to enjoy their Medicare savings with the specific programs. As these limits change on a yearly basis, you should still apply for Medicare savings assistance this year even if your income exceeds the 2017 ceilings. This year, the amended ceilings may find you eligible for some level of financial aid.
This stands for Arizona’s State Health Insurance Assistance Program. Medicare comes with a very long list of rules, and some residents of the state may be confused by the details. If you’re a resident of Arizona, you can contact the Arizona SHIP and receive one-on-one counseling from experts with no ties to private health insurers.
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