Medicare and Medicaid are commonly confused with one another. The fact is that they’re both government programs involved with healthcare also further confuses people. Both Medicare and Medicaid differ in regards to the people they cover, their funding, and how they’re governed by the state and/or federal government. Although these healthcare-related programs serve different purposes for Americans, they’re considered a necessity for low to middle-income workers in need of healthcare. Behind Medicare Medicare is primarily an insurance program. The program involves patients deferring payments to trust funds while they are working full-time, which covers their medical bills once they retire. This program mainly covers people over age 65 at any income level; younger disabled holders and other patients, like dialysis

Did you know that there are many ways how to save money on Medigap? Here are our five ways to save: Consider a high deductible: in a High Deductible Plan F, both you and Medicare pay shares until you hit the plan’s premium. Utilize household discounts: some Medigap carriers offer discounts if both spouses use the same company. Give thought to an off-brand company: there are a number of highly-rated insurance companies that offer Medigap plans, even if you’ve never heard of them. Take advantage of free physical treatment: preventative care is of the utmost importance in early detection. Not to mention, it could lower your spending in the long run by maintaining your health at the get-go.  Shop around

Medicare is a federal health program for people 65 years of age and older. When choosing a Medicare plan, there are a lot of terms to understand and know. The most basic of terms are outlined here for your convenience: Premium: the monthly amount you pay to have the plan Deductible: the amount you must pay up to before your medicare plan incurs the costs Co-pay: the specific amount your insurance asks the insurer to pay for specific services Co-insurance: the percentage amount the insurer is responsible for after your deductible is met Max-out-of-pocket limit: in the worst-case scenario, this is the most the insurer would be responsible to pay for Outside of these core terms, there are other things

When it comes to health insurance, there’s a lot of confusion surrounding the available types. What makes one different from the other? Which one do you need? Continue reading on to find out what you need to know about each type. Health Maintenance Organization plans (HMO): these are one of the more popular ones. An entire network of providers agrees to offer you its services. The caveat is that you need to have a primary care provider (PCP) who coordinates all of your health care services and any visits to a specialist. If you go out of network, you will incur a fee for that. This plan is good for people who like to see their PCP on a regular

It is in the best interest of your health insurance to ensure that you are healthy. That’s why companies offer certain perks and benefits to help keep your health on track. Depending on your insurance carrier, taking advantage of these perks can even get you discounts on some of your favorite things. Here are some of the things health insurance companies are giving to their members: Money for meeting your walking steps goal – some insurance companies have apps that allow you to set goals and track progress. For reaching or surpassing your goals, you can get gift cards as a reward for taking care of your health. Gym fee reimbursement – even though gyms can be expensive, health insurance

On Tuesday, September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) announced that the monthly premiums, deductibles, and coinsurance for Medicare Part A and Part B are expected to decrease by about $5 (or 3%) in the coming year. This is the first time a cost like this has been lowered in more than a decade. According to Health and Human Services Secretary Xavier Becerra, federal spending on the new Alzheimer’s drug, Aduhelm, will not be as high as initially projected, which has contributed to this pay decrease in premium. Medicare Part B covers things like doctor visits, certain home health services, durable medical equipment, and other medical and health services that are not covered by Medicare Part