Hawaii may be a vacation hotspot, but medical expenses can be a nightmare for those without proper health insurance coverage. For qualifying beneficiaries, Hawaii Medicare Insurance is a godsend program designed to provide coverage for necessary medical services. Many Hawaiian residents enjoy benefits from the program which ensures that qualified beneficiaries enjoy good health.
Medicare is primarily designed to provide health insurance coverage for people over the age of 65. However, it can also provide coverage for under-65 workers with disabilities. This program is funded by the federal government, but the state of Hawaii also provides some services related to Medicare.
Medicare is primarily made up of 2 parts called Part A and Part B. Medicare Part A offers coverage for mostly hospital-related services, including inpatient care. Medicare Part B deals with medical treatments and supplies. Both Parts A and B may require payment of monthly premiums, although for most Medicare beneficiaries Part A is premium-free. There are also deductibles and coinsurance payments for Both Medicare Parts A and B.
It is possible for Medicare beneficiaries to receive Medicare coverage through plans offered by private health insurance carriers. These carriers can offer various types of Medicare plans once they’ve received approval from Medicare.
The Medicare Advantage Plans are among the most popular option. A plan of this kind offers at a minimum the same coverage that you would receive from Part A and Part B. Often, the Advantage Plan covers even more services that are not covered by Parts A and B, which combined are referred to as “Original Medicare.” A Medicare Advantage Plan is also often called Medicare Part C.
There is a Plan D, too. The Medicare Plan D refers to the Medicare health plan that covers the cost of prescription medication. This is a very common supplemental plan to complete the coverage provided by Original Medicare.
Other Medicare Supplemental Plans can also cover other medical services that are not covered by Medicare Part A and Part B. The extra coverage adds to the benefits provided by the Original Medicare. In some cases, the supplemental plans can cover the costs of deductibles and copayments,
If your income and resources are limited, you still may have difficulties covering the costs of Medicare premiums, deductibles, and coinsurance payments. The Medicare Savings Programs (MSP) offer various levels of assistance to help pay for Medicare costs. The MSPs are available to those who are at least entitled to Medicare Part A.
The Qualified Medicare Beneficiary (QMB) program covers the cost of the premiums for both Part A and Part B. It also helps pay for the deductibles and the coinsurance. An individual can qualify with a monthly income of no more than $1,155. Married applicants can be eligible if their combined income is no more than $1,556.
The Specified Low-Income Beneficiary (SLMB) program pays for Part B premiums. This service is available to those individuals who earn less than $1,386 a month. For married couples, the income ceiling is $1,867 a month.
The Qualifying Individual-1 (QI-1) program also pays for Part B premiums, though this program is not as well-funded as the SLMB program. This is why benefits are offered on a “first come, first served” basis. The individual income ceiling is $1,560 a month, while married couples cannot earn a combined income of more than $2,101.
The QMB, SLMB, and QI-1 programs also have a resource limit, which factors in your savings, stocks, and bonds. To qualify for any of these programs, an individual’s resources cannot be worth more than $7,390. The limit is $11,090 for married couples. Each additional person in the household increases the resource limit by $500.
The QMB, SLMB, and QI-1 programs also automatically qualify beneficiaries for the Low-Income Subsidy assistance. The subsidy helps cover the cost of Medicare Part D.
There is also the QDWI program, which offers payment for Part A premiums for Qualified Disabled and Working Individuals. Among the requirements is a monthly income of no more than $2,310 for an individual and $3,112 for a married couple. The asset limit for this program is $4,000 for an individual and $6,000 for a couple.
Hawaii has a State Health Insurance Program (SHIP) called the Health Insurance Counseling and Advocacy Program that offers objective advice and counseling on Medicare and other health insurance matters. Their toll-free phone number is 888-875- 9229. Call them so that you can have all your questions answered regarding health insurance and Medicare in Hawaii.