If you are currently on disability or you are approaching that momentous milestone of age 65, you’ve likely started thinking about Medicare. But how much do you really know about this important government program? Insurance Hub has some important facts about Original Medicare that every American should know.
- Medicare is a program run by the federal government that provides health care coverage to individuals who are age 65 and older, under age 65 and receive Social Security Disability Insurance (SSDI), or under age 65 and have End-Stage Renal Disease (ESRD).
- Medicare is coordinated by The Centers for Medicare & Medicaid Services (CMS), a federal agency.
- The Medicare program is funded by Social Security, Medicare taxes, Medicare premiums, and the federal budget.
- Medicare, or “Original Medicare”, differs from a Medicare Advantage Plan, which is a private insurance offered by privately contracting companies.
- Original Medicare (Part A & Part B) with a Medigap plan offer a much greater network of doctors and hospitals across the country than Medicare Advantage Plans. Medicare Advantage Plans have more restricted networks, but offer additional benefits like routine vision or dental care not offered by Original Medicare.
- In the year 2013, approximately 52.3 million Americans received Medicare benefits – 43.5 million were elders aged 65 and older while 8.8 million were younger than 65 and disabled.
At Insurance Hub, we believe everyone should be able to understand and afford high-quality health care insurance coverage. Our team of agents and knowledgeable advisors are here to assist you with your medicare insurance option needs and answer any questions you might have. At Insurance Hub, we are committed to always putting our clients first.
Whether you’re looking for Medicare or any other type of health insurance, the Insurance Hub has just what you’re looking for. For more information regarding Original Medicare, Medicare Advantage Plans, and other insurance coverage click on the links below.