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Medicare medical insurance is an important health plan that every senior should consider enrolling in at some point after they turn 65. Every senior that turns 65 will be automatically given the chance to have medicare medical insurance but they can decline it off the bat. If they sign up for this insurance after the initial offer, enrolling in it at a later date will cost the senior a late enrollment fee. Medicare medical insurance is another name for Medicare Part B.
Part B is an optional plan that seniors can enroll in if they so wish. If enrolled, patients will need to pay a monthly premium that will help cover the costs of the services offered. Medicare open enrollment in Part B is usually offered to seniors when they enroll in Part A coverage. This plan helps to pay for services and products needed for treatment or doctor's visits that are not paid for by Medicare Part A.
The amount of insurance you can sign up for depends on your income, either single or married, and is determined by the United States government. A change in income for any of the following reasons can change the premium of your insurance premium:
-You got married, you got divorced, or you became widowed
-You stopped working or reduced your work hours, same for your spouse
-You lost property-producing income because of a natural disaster
-You or your spouse received a settlement because of a former employer's bankruptcy or closure
-A termination or reorganization of an employer's pension plan has affected either you or your spouse's value of income