When you reach age 65, you’re eligible for Medicare. Medicare does not cover all of your medical costs, though. Prescription drugs have not been covered (although some relief is scheduled for 2006) and there are various deductibles and co-payments that Medicare leaves for patients to pay.
How can you protect yourself from these costs? One response is to join a Medicare HMO. Besides the monthly Medicare Part B premium, you generally pay another premium to the HMO, plus token amounts for each office visit and each prescription. In return for these payments, Medicare HMOs usually:
- cover checkups and preventive care not covered by Medicare;
- provide relief from deductibles and costly co-payments; and
- offer extras such as low-cost prescriptions, vision care, and routine dental care.
The catch? Medicare HMO enrollees generally must see physicians who are on a specified list, in order to get full insurance coverage. You’ll probably be assigned one primary care physician as your “gatekeeper,” whose permission is necessary before you can see a specialist.
