Medicare Part C is elected instead of Part A & B and typically provides more services, including prescriptions. Part C: Medicare Advantage (pay a premium – depends on the plan).Must elect at 65 or be penalized for the lifetime (10% increase in premium per year you did not sign up for Part B Medicare when you could have) unless the senior citizen is otherwise fully insured. Part B: General medical insurance (pay a premium - $164.90 / mo in 2023 for those who earn less than $97,000.00 a year).Part A: Hospital/Hospice Insurance (automatic, everyone gets if paid into system for 40 quarters).must have paid into system for 40 quarters. 65 years+ or has received SSDI for 24 months AND One is entitled to Medicare if a legal resident of US for at least 5 years AND Medicare is an entitlement-based program. As I will detail below, the harsh reality is that Medicare does not provide adequate coverage for long-term care costs.īut, lets start with exploring some of the basic differences between Medicare and Medicaid in Florida. Many people erroneously believe that Medicare will take care of them in their old age. Due to the archaic nature of these laws, specialists known as elder law attorneys became necessary to guide the lay person.Īn initial area of confusion involves the differences between Medicare and Medicaid. Medicaid has been called among the most complex and convoluted areas of law. Sifting through Medicare Supplements and Medicare Advantage Plans is a daunting task that usually requires the help of an experienced senior focused health insurance agent.

While many are familiar with Medicaid as well - as a health-insurance program, there is a largely-unknown long-term-care component that will pay for nursing home though it’s ICP (institutional care program) or a significant portion of ALF care or home-health care through the Florida's home and community based Medicaid program (also referred to as Medicaid Waiver or SMMC-LTC). Almost all Floridians over age 65 are familiar with Medicare - as the primary source of health insurance for all Americans over age 65.

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