Medicare medical insurance helps pay for -What are the 4 types of Medicare?

What are the 4 types of Medicare?

Medicare

Medicare offers a variety of healthcare coverage to adults aged 65 or over, disabled individuals, people with Lou Gehrig’s disease and end-stage renal failure individuals- click here for more info. Individuals to meet Medicare Part A Hospital Insurance requirements based on personal or spousal work history. Persons who do not qualify for Part A qualify by paying a monthly premium. Medicare Part B Medical Insurance requires a monthly premium payment and provides basic healthcare coverage to qualifying individuals. Offered by private insurance carriers, Medicare Part C offers Part A and B cover for a fee. The Medicare Part D plan offers low-cost prescription coverage.

SSDI

Much like Medicare coverage, Social Security Accessible Insurance is based on your work history and contributions to Social Security as part of your federal tax. SSDI pays monthly benefits to qualifying individuals disabled based on how much they contributed during their work year. Dependents of SSDI recipients may qualify for benefits based on parent or guardian eligibility. Excluding some compensation payments and other disability benefits, SSDI does not mean to limit or deny your benefits based on income.

SSI

Primary School Income Income provides monthly cash assistance to low-income adults aged 65 or older and disabled or blind individuals. Unlike SSDI, SSI receivers should have limited revenue and resources. Your work history is not used to being considered. As of 2011, the maximum monthly benefit amount is $ 674 for individuals and $ 1011 for couples. Financial eligibility is calculated by the maximum monthly benefit amount of your countable income.

How it works together

SSDI recipients automatically qualify for Medicare benefits after receiving disability payments for two years. Individuals on SSI may qualify for Medicare, but most SSI recipients also qualify for Medicaid depending on state requirements. Medicaid offers free or cheap healthcare cover to individuals qualify. If you qualify for Medicare and Medicaid, Medicaid covers most Medicare costs such as premiums and co-payments.