Question

What type of Insurance do I need?

Mrs. Plum is 60 years old, in good health and working for a bakery that offers an HMO. Her portion is ½ of the cost of the policy or ½ of the premium. She feels this is too expensive and wants to know if she can get Medicare and who pays for it.

Answer 1

Mrs. Plum, at age 60, is not yet eligible for Medicare, which generally covers individuals 65 and older. Medicare is funded by payroll taxes, premiums, and revenue. She may need to explore other insurance options, such as Marketplace insurance, until she reaches the qualifying age for Medicare.

Step-by-step explanation:

Mrs. Plum, who is 60 years old and in good health, is currently covered by an HMO through her employer, but finds her share of the premium expensive. She is interested in knowing if she can get Medicare, which is a federal health insurance program. Generally, Medicare is available for individuals who are 65 years old or older. However, there are specific cases where younger individuals can qualify for Medicare, such as those with certain disabilities or diseases. As of her current age, Mrs. Plum would not be eligible for Medicare under the general age criteria. Medicare is primarily funded through payroll taxes, premiums paid by beneficiaries, and general revenue. Additionally, since Mrs. Plum is working, she may not yet qualify for Medicare but could look into other options, such as Marketplace insurance, depending on her income and other factors.