Medicare and You
Medicare is a federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (ESRD). Medicare has several parts covering an extraordinary number of medical and prescription benefits. For those not used to participating in the medical space, it can be confusing. Hi, I’m Teresa Lopez Grijalva, a licensed, certified agent for Medicare and a proud member of the AV Chambers of Commerce and the AV Hispanic Chamber. It is a joy to be doing what I am doing and helping folks navigate their Medicare and prescription benefits. Most of us will know of Medicare even though we may not be close to turning 65. This would be because of a parent, grand-parent, friend, or other relative. Let’s see if we can simplify this asset and give you a quick overview of those benefits.
Different parts of Medicare help cover specific services:
Medicare Part A (Hospital Insurance) covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
Medicare Part B (Medical Insurance) covers certain doctors’ services, outpatient care, medical supplies, and preventative services.
Medicare Part D (Prescription drug coverage) helps cover the cost of prescription drugs (including many shots or vaccines).
Do you know who received the very first Medicare card? (see below)
Most people don’t pay a monthly premium for Part A. If you don’t qualify for premium-free Part A, you can buy Part A.
Everyone pays a monthly premium for Part B. Most people will pay the standard Part B premium amount. The standard Part B premium amount in 2023 is $164.90. If your modified adjusted gross income, as reported on your IRS tax return from 2 years ago, is above a certain amount, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
Next article, we will talk about how you get your coverage – Original Medicare or Medicare Advantage. We will also discuss Part D (Prescription Drug Coverage).
If you have any questions about
Medicare, please contact me –
Teresa Lopez Grijalva 310 661-386-0336 780-5475 mobile office teresa.grijalva22@gmail.com
I am also certified with Covered
California – for all people UNDER 65
BTW – the first Medicare Card was issued to President Harry Truman in 1965.