Do You Need More Insurance ?

Do You Need Insurance ? Before buying insurance coverage to supplement Medicare, ask on your own whether you need exclusive health insurance in addition to Medicare. Not every person does.

Medicaid Receivers

Do You Need Insurance ? Low-income individuals who are eligible for Medicaid usually do not need extra insurance policy. They additionally receive specific health care advantages beyond those covered by Medicare, such as long-term nursing home treatment. If you come to be eligible for Medicaid, and even you have Medigap insurance acquired on or after November 5, 1991, you can ask for that the Medigap advantages and even costs be suspended for around 2 years while you are covered by Medicaid.

Need to you end up being disqualified for Medicaid benefits throughout both years, your Medigap plan will be restored if you give correct notice and even begin paying premiums once more. You do not, however, need to suspend your Medigap policy, and even suspension is not always to a Medicaid recipient's advantage. You may want to review your choices with your state Medicaid reps.

Certified Medicare Beneficiary Program:

Do You Need Insurance ? Help for Low-Income Elderly Limited financial support is readily available with Medicaid for paying Medicare premiums, deductibles, and even coinsurance amounts for certain low-income senior and disabled recipients.

If your annual earnings goes to or listed below the national poverty line and even your cash and even cost savings are really limited, you might obtain state help in paying Medicare's monthly premiums, deductibles and coinsurance. This is called the "Qualified Medicare Beneficiary" (QMB) program.

Do You Need Insurance ? To have actually certified in 1993, your revenue could possibly not have been more than ₤ 601 each month for one person or ₤ 806 monthly for a couple, except in Alaska and Hawaii. In Alaska the earnings restrictions were ₤ 745 per month for someone and ₤ 1,002 per month for a couple. In Hawaii they were ₤ 690 per month for a single person and even ₤ 925 monthly for a couple. The limits for 1994 will be revealed in February 1994. Financial resources such as savings account, stocks, and even bonds can not go beyond ₤ 4,000 for a single person or ₤ 6,000 for a couple.

Do You Need Insurance ? Financial assistance additionally is available for Medicare recipients under the "Specified Low-Income Medicare Beneficiary" (SLMB) program. This program is for beneficiaries whose revenues surpass the poverty level by not greater than 10 percent as well as that satisfy particular source restrictions. To have actually gotten this program in 1993, your income could not have been more than ₤ 659 a month for someone or ₤ 884 a month for a couple, except in Alaska as well as Hawaii. In Alaska the revenue restrictions were ₤ 818 monthly for a single person and ₤ 1,100 monthly for a couple.

In Hawaii they were ₤ 758 monthly for one person and even ₤ 1,016 per month for a couple. People in this classification are eligible only for Medicaid settlement of their Medicare Pan B costs, which is ₤ 41.10 monthly in 1994. If you assume you receive state support in paying your Medicare expenses under either of these two programs, contact your state or local social service company.

Do You Need Insurance ?