Medicare 2010

If you reach age 65, or if you are disabled for a certain period of time, you may be eligible for federal Medicare benefits program. There are several parts in Medicare program, which are referred to as Part A, Part B, Part C, and Part D. There are numerous websites that describe these programs in great detail and can be easily found by searching Google. This article will attempt to outline your choices when trying to select the best choice or combination of choices in selecting Medicare plan.

First, you have to decide whether you will remain in original Medicare or re-assign your benefits to a private company that will then re-package Medicare into a customized plan that maybe available to you.

Most people become eligible for Medicare when they reach age 65 or if they are disabled for a certain period of time. Those people get Medicare card in the mail that would usually specify the date of their eligibility. The card will also specify whether a person is eligible for Part A, Part B, or both.

So, if that person does nothing, and the card specifies Part A and Part B, the person will have hospital and doctor visits insurance. There is a premium for Part B, which is $96.40 in 2010 for people with income of 85,000 and less ($170,000 or less for joint filers). The premium may be $110.50 for higher income earners. With Part A and Part B, a person gets insurance for hospital stays (Part A) for doctors visits (Part B). Sounds good, right? Here is a catch: there is no insurance for drug coverage! And, there is a $155 annual deductible for doctor visits that the beneficiary will have to pay. Let's also not forget about $1100 deductible for hospital stays, also an out-of-pocket cost of the insured person. Two - three hospital stays and a list of 5-6 medications will quickly add up to.., a lot. If the person has limited resources, and in most states those are really "limited" resources, he or she may qualify for state Medicaid program that will help with costs. There is also a Medicare program for people with limited resources to help with medication costs. The rest of the people need to figure out something else

So, here comes a barrage of supplements and other options.