Kentucky Medicare insurance is especially important for its residents, as it ranks 5th among the states with the lowest median household income. Too many of the residents in Kentucky cannot afford health insurance, with the state poverty rate at 19.1% and the average cost of monthly premiums at $437.
Medicare provides health coverage for qualified citizens over the age of 65, along with certain people with disabilities. It’s a federal program, but the state offers many other assistance programs for Medicare beneficiaries.
Collectively, Medicare Part A and Part B are collectively known as Original Medicare. These are the core parts of the coverage, with Medicare Part A covering the cost of hospital care such as inpatient health care. Medicare Part B covers doctor visits and other medical treatments, including preventive services and durable supplies.
Medicare Part A typically does not require a premium from beneficiaries, although there are some exceptions. Medicare Part B usually does require monthly premiums. Both involve payments for deductibles and coinsurance.
Some private carriers have been approved by Medicare to offer Medicare plans to beneficiaries. These include Medicare Advantage Plans, which are also known as Medicare Part C. The coverage includes all the services that are part of Medicare Part A and Part B coverage. Typically, the Advantage Plan also includes coverage for services that are not covered by Original Medicare.
Those who already have Medicare Part A and Part B may choose to obtain Medicare Part D. This refers to a Medicare Prescription Drug Plan, which as the name suggests, covers the costs of prescription medication. It broadens the coverage of Medicare as many beneficiaries are older residents who may need more prescription drugs to remain healthy.
Other supplemental Medicare plans may include coverage for services which are not part of Part A and Part B coverage. Some of these supplemental plans can also cover the cost of copayments and deductibles in Medicare Part A and Part B.
In Kentucky, the Medicare Savings Programs are available through Kentucky Medicaid. Eligible beneficiaries must be entitled to Medicare Part A, and their income can determine the level of assistance they receive.
The Qualified Medicare Beneficiaries (QMB) program can pay for the premiums of Medicare Part A and Part B, along with the deductibles and coinsurance payments. To be eligible, an individual must earn no more than $1025 a month, while applicants who live with a spouse can qualify with a combined monthly income of less than $1374.
The Specified Low Income Medicare Beneficiaries (SLMB) program pays for the premium of Medicare Part B, which can cost at least $134 a month. Those who are eligible for this type of assistance can qualify with an income not exceeding $1226 per month. For married couples, the limit for the combined income is $1644 per month.
The Qualified Individuals (QI) program also offers to help pay for the Medicare Part B premium. For this program, the individual income limit is $1377 per month. Those who are living with a spouse can also qualify with a monthly income of $1847.
These programs also have a resource limit, which counts assets such as checking and savings accounts, stocks, and bonds. The house and the car are typically not included. For individuals, the limit is $7820 while the assets of married couples cannot total more than $10,930.
These programs can also allow beneficiaries to enjoy Extra Help, which offers a subsidy that pays for Medicare Part D for low-income beneficiaries. To qualify an individual must earn no more than $18,090 a year and have resources totalling less than $13,820. The limits for a married couple are $24,360 for the annual income and $27,600 for the resources.
Another program offers to pay for Medicare Part A premiums for Qualified Disabled and Working Individuals. The monthly income limit is $4,105 for individuals, while the combined income of a married couple cannot exceed $5,499 per month.
Medicare involves too many confusing details, but Kentucky has a State Health Insurance Program to help provide counselling and advice for Medicare beneficiaries living in the state. The program is free, and it offers objective and confidential one-on-one counselling.