Proper medical care is a right for every human. However, we all know medications and services in the health care department are expensive. While many people tend to afford this luxury and ensure proper health services are provided, not everyone is privileged enough.
So, does that mean they have no right to gain proper medical services? No, this is certainly not the case. There are several programs that aid them in cases where income and resources prevent them from gaining healthcare services. If you are someone who wants to know what these programs are and what one does if one cannot afford Medicare, then this article is for you.
Medicare Coverage – Out-of-Pocket Costs
Before hopping into a detailed guide about what measures should be taken if one cannot afford Medicare, understanding the coverage aspects and the amounts one must pay out of pocket is essential.
The overall cost for any individual under Medicare depends on the type of Medicare coverage they have chosen. This means Original Medicare (Part A and B) comes with annual deductibles, copayments, and coinsurances.
However, if someone has worked for around ten years while paying the Medicare taxes properly, then their monthly premium for Part A Medicare, which is the hospital insurance, will be called off. However, Part B still comes with a premium, but if you have a low income, you may qualify for the assistance described below.
Types of Medicare Coverage Assistance
With the Medicare Coverage aspects out of the way, let's dive into the question that made you end up in this article. If you are having trouble affording Medicare coverage or know someone in this boat, then there are a few assistances that one can look into to seek help.
Proper medical services are the right for everyone, regardless of whether they have the financial means to afford them. Hence, if you fall in the latter Part of the scale and are having a hard time affording medicare coverage along with meeting your other life needs, you may want to look into and check your qualification for one or more of these programs:
- Medicaid
- Medicare Savings Program
- Medicare Part D Extra Help
How Much Does Medicare Cost Each Month?
As mentioned above, Medicare's cost majorly differs from individual to individual. This is because no two people would choose the same type of coverage, which would eventually make a difference in their overall costs. Medicare Part A, for instance, is generally a premium-free cost for most people. However, in this type of Medicare, the costs may be associated with coinsurances, copayments, and deductibles.
Medicare Part B offers a monthly premium, unlike Part A. This premium can vary depending on an individual's income. 2023, the standard Medicare Part B premium was $164.90/month. However, for high-income users, this might increase.
The third Part of Medicare coverage is Part D, which provides coverage for prescription drugs. This aspect also has a monthly premium, and its costs can vary from one individual to another depending on the choice of plan and income.
How Do Low-Income Individuals Afford Medicare?
Reading about the monthly costs for Medicare might make you think about how any low-income individual might be able to afford it, and if they cannot, are they ripped off the right to proper medical care? Well, no, for those considered low-income, several options are available to help them pay for their Medicare coverage.
We have mentioned the top three options that assist above. The first is Medicaid, a joint federal and state program that helps with the healthcare costs of individuals with limited income and resources. Hence, if an individual is eligible for Medicare and Medicaid, the Medicaid aspect may help them pay their Medicare premiums, coinsurances, and deductibles.
Is Medicare Free if you are Low Income?
Many people might assume that if someone with a lower income cannot afford Medicare, it will automatically become free for them. Well, this is not the case. Medicare is not free, but as we mentioned, several programs can assist in helping you cover or lower the cost of coverage that you will have to pay.
While Medicaid and Medicare Savings programs are two assistance programs that have helped thousands of people over the years, there is another program called Extra Help, which helps pay for the Medicare prescription drug costs for individuals with limited resources or income. This Extra Help covers the costs of monthly premiums, coinsurances, and deductibles.
The Extra Help – Medicare Coverage for Part D Prescription Drugs
Upon reading the above paragraph, you must have considered this 'Extra Help.' The Extra Help program is federal for people with Medicare who meet the income and resource limits for prescription drugs (Part D).
If someone receives Medicaid or Supplemental Security Income (SSI) or if the state is paying the Medicare Premiums for someone, then they might qualify for the Extra Help category. However, it is essential to know that many people who may qualify for the Extra Help category will have to pay:
- No Medicare Premiums
- No Medicare Deductibles
The 'Extra Help' coverage any individual may receive will differ depending on the income and resources, among other aspects. An individual can enroll in a Medicare Part D Prescription Drug Plan anytime and will not be penalized even if they enroll late.
Wrapping Up!
If you are wondering what to do if you cannot afford Medicare, we hope this article was helpful for you. Let us know whether you qualify for any one of the assistance programs or whether you learned today that you may be able to opt for one.
