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What's the difference between Obamacare and Medicare?

    Those who use Medicare pay monthly premiums for Part B. Medigap supplementary insurance costs $125-$250 a month and covers the 20% of charges Medicare does not cover. You must also pay co-payments, co-insurance and annual deductibles for Part A hospital coverage and Part D drug plan.Changing Medicare's benefit package takes an Act of Congress;health care administered by the federal government for those over 65,or on SSDI benefits at any age.Medicare isn't part of ObamaCare's Health Insurance Marketplace, no one has to replace their Medicare coverage with Marketplace based health insurance. Medicare tax is on every employee.

    ACA refers to the individual federal mandate that every legal resident and citizen be insured in 2014. If you do not have insurance  you can buy a policy from an insurance exchange set up in each state which offers different plans with different coverage. You get a tax credit subsidy if your income is under $88K when you file your return. The amount of the subsidy depends on your annual income.Changing Obamacare's benefits package only takes a change in regulations.

    If your income is under $15,000 even if you are single you may qualify for Medicaid if you state participates in the Medicaid expansion.
    • If someone signs up for Medicare next year when they become eligible, and also choosea a Medigap policy you mentioned, is the Medigap policy allowed to consider "pre-existing condtions" in order to set its premium rate?      I know Obamacare cannot consider pre-existing condtions, but I don't know if the traditional Medigap policies can consider the pre-existing conditions since they are not part of Obamacare.  Thanks.
    • You must have Medicare Part A and Part B to buy a Medigap policy.

      A Medigap policy only covers one person. If you and your spouse both want Medigap coverage,you each will have to buy separate Medigap policies

      Any standardized Medigap policy is guaranteed renewable even if you have health problems. This  means the insurance company can’t cancel your Medigap policy as long as you pay the premiums.

      The best time to buy a Medigap policy is during your Medigap open enrollment period.. This period lasts for 6 months and begins on the first day of the month in which you’re both 65 or older and enrolled in Medicare Part B. Some states have additional open enrollment periods including those for people under 65. During this period, an insurance company can’t use medical underwriting . This means the insurance company can’t do any of the following because of your health problems:
      •Refuse to sell you any Medigap policy it offers
      •Charge you more for a Medigap policy than they charge someone with no
      health problems
      •Make you wait for coverage to start (except as explained below)

      While the insurance company can’t make you wait for your coverage to start, it may be able to make you wait for coverage related to a pre-existing condition . A pre-existing condition is a health problem you have before the date a new insurance policy starts. In some cases, the Medigap insurance company can refuse to cover your out-of-pocket costs for these pre-existing health problems for up to 6 months. This is called a “pre-existing condition waiting period.” After 6 months, the Medigap policy will cover the pre-existing condition.

    • Does Obamacare have any such waiting period for pre-existing conditions like the Medigap policies?  Or is there coverage for those conditions on Day One?
    • The time period during which a health plan won't pay for care relating to a pre-existing condition. Under a job-based plan, this cannot exceed 12 months for a regular enrollee or 18 months for a late-enrollee.

      The time period during which an individual policy won't pay for care relating to a pre-existing condition. Under an individual policy, conditions may be excluded permanently (known as an "exclusionary rider"). Rules on pre-existing condition exclusion periods in individual policies vary widely by state. A group health plan may impose a preexisting condition exclusion period, but it must be applied uniformly.

      Each health insurer will be allowed to design benefit plans as it chooses (complying with state and federal law,).It will be essential that you understand the terms of your individual plan and follow the rules set forth in your policy to ensure that your care is paid for.(Same understanding of a policy is needed today)
    Obamacare, or The Affordable Care Act, is a law that imposes new rules on an existing healthcare system and insurance industry. It provides for exchanges, through which a person may buy insurance.


    Medicare is "the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease." 


    Medicare is considered a qualifying plan under the new health law. If you have Medicare you're not required to purchase insurance through an exchange.

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