Principles of Health Care Reimbursements - Paper Example

Introduction

Uncle John, now that you will be eligible for Medicare, there are several things I want you to understand concerning its package and coverage. When you begin your application, you will be enrolled to Part A plan directly. In other words, this is your hospital insurance place. Part A policy will cover your hospital stays, nursing care but not the doctor's fee. Moreover, this plan also covers for skilled nursing care after hospice care and hospital stay as well as home health services. Since you are already 65 years old, you are eligible to get retirement benefits for either the Rail Road Retirement Board or from the Social Security but then until you file for them. For instances where you plan to buy Part A plan, you will have to pay a monthly fee of $422 in 2018. But if you paid for the Medicare taxes in a minimal of 30 quarters, then the premium fee will remain the same. But if you paid the taxes for 30-39 quarters, then you will pay $232. This plan will also force you to have Medicare Part B plan which I will explain briefly.

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One thing about part B plan you need to be aware of is that not everyone is eligible and this may involve signing up. If you happen to choose not to sign up for this plan, then a late enrollment penalty will be applied. The Cost of plan B, in this case, will be deducted on a monthly basis from the benefits below:

1. Railroad Retirement Board
2. Social Security
3. The Office of Personnel Management.

In the case where you may be forced to pay for Part B premium, the amount set for 2018 is $ 134 but depending on your income. For individuals that benefit from Social Security, they spend less $ 130 on average. Therefore you will pay for Part B plan when it becomes your first time to enroll in 2018. After doing further research on the website you visited, I realized that if you would have registered at least four months before turning 65 years old, you would automatically get Part A and B immediately you become 65 years. However, in cases where you feel you don't want part B plan, in cases where you think you don't wish to plan for part B plan, you can contact the Social Security after your Medicare has started and your coverage will end your request immediately. The standard payment for part B plan in 2018 is $ 134 depending on your income. However, if you are a beneficiary of the Social Security benefits, you will pay an average of 130 dollars.

For Part C plan, it depends on whether you plan to change the monthly premium, whether the program will be part of the Part B plan and whether the plans fall under yearly deductions. The ideas, however, come with an extra charge of copayment that costs around $10 to $20 every time you visit your doctor. After analyzing part D plan from the website, I realized that it also works with other insurance companies. For person's eligible for a Medicare drug plan, they will also pay for the Premium package that will be deducted every year, through coinsurance and copayment and it will cover for your costs in the coverage gap.

The cost of drugs, in this case, will also depend on the plan you choose, the medication you use, the choice of pharmacy you will attend. This also depends on whether you will be getting extra help while taking care of your Medicare Part D expenses. To finalize, I thought of adding you this information because you might be interested in the other services they offer. The Medicare health plans in this care include Pilot/Demonstration Programs, Medicare Cost plans, the Medication Therapy Programs in cases where your health may be a server, and comprehensive Care programs for the Elderly (PACE). For more information, you can contact call them directly through 1-800-MEDICARE, by login in their systems through MyMedicare.gov or send them a letter through the 'Medicare Contact Center Operations, PO Box 1270, Lawrence, KS 66044.