Verna Knight, MBA

Licensed Insurance Agent

Introduction to Medicare

Believe it or not, according to Worldometer’s most recent data, America’s population is around 300 million which is equivalent to 4.25% of the total world population. Now, imagine that from that number the population 16% are aged 65-and-older. Based on the data from the Census Bureau, the 65-and-older population has increased incredibly since 2010. The reason why we’re talking about the population is to tackle the topic in Medicare which is for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

Health care system costs are directly related to age: the older you are, the more certain you are to require medical care. The elderly are more likely to suffer from chronic conditions that necessitate long-term treatment, and accidents are more common, often necessitating complex treatment. Due to the high healthcare costs for older Americans, private insurers either did not offer coverage to the elder people or billed such expensive insurance that insurance was unaffordable. Medicare was established to address a federal social crisis that threatened the nation’s social and economic fabric.

Medicare is similar to a property insurance program or car insurance in that many of the insured’s require repairs throughout the year; as time goes by, their physical bodies wear out, immune systems deteriorate, and organs require replacement. To continue the analogy, the Medicare population refers to a group of homeowners whose houses burn down every year or cars getting repairs.

Let’s dive into some terms first in order to understand and fully grasp the idea of “Medicare”.

What does it mean by “Medicare”?

Medicare is a federal healthcare program for individuals aged 65 and older, certain younger people with disabilities, and people who have permanent kidney problems may also be eligible for Medicare. The program assists with healthcare costs, but this does not fill all medical bills or the major portion of long-term care costs which in simple terms, it doesn’t pay for everything, however, its scope is essential in possessing medical costs as you get older.

Parts of “Medicare(

Part APart BPart D
Part A cover inpatient hospital
stays, care in a skilled nursing
facility, hospice care, and some
home health care.
Part B covers certain
doctor’s services,
outpatient care, medical
supplies, and preventive
Helps cover the cost of
prescription drugs (including
many recommended shots or

Part C is an alternative called Medicare Advantage, which allows patients to choose health plans with at least the same service coverage as Parts A and B (and most often more), often the benefits of Part D, and always an annual out-of-pocket expense limit which A and B lack. A beneficiary must enroll in Parts A and B first before signing up for Part C.

How would you know if you’re eligible?

  • If you are 65 or older and lived in the USA legally for at least five years.
  • If you are under 65, you may be eligible if you have Social Security Disability Insurance (SSDI).
  • If you have continuing dialysis for end-stage renal disease or need a kidney transplant.

Talk To An Expert

As mentioned above, Medicare helps pay most of your bills but can’t pay for everything. What does it mean? Well, you still have to pay for things like copayments, coinsurance, and deductibles. That’s still something you also have to pay attention to take care of yourself. The best suggestion so far to learn more about how to get the quality and most affordable plans that will certainly give you optimum benefits is to consult a licensed expert. They have connections and they know exactly the workflow and will surely help you know your options.

One known expert in selecting the choice for your healthcare costs problems is to talk to a professional and licensed expert with years of experience, Verna Knight. Her expertise widened as she opened Knight and Day Solutions Company that made her one of the top licensed independent insurance agents with connections to a vast number of successful and proven companies. 
Get a free consultation here: