The Kidney Citizen May 2016 | Page 17

the ki ney citizen 17 age as long as they qualify for it by having enough work credits. For individuals who are already Medicare beneficiaries when diagnosed with ESRD, coverage begins immediately. For those who are under 65 years of age and on dialysis may become entitled to Medicare upon meeting certain conditions: • The first month of starting dialysis as long as you have participated in and completed home dialysis training. • The 4th month from when they start dialysis if you are undergoing hemodialysis in a dialysis clinic. • How to know “Is Medicare is right for Me?” The main thing to figure out if you obtain Medicare is: how will it affect your current insurance? If you have an Affordable Care Act (ACA) or exchange plan, adding Medicare may cause you to lose the subsidy or possibly the entire plan itself. If you have COBRA coverage (group insurance after employment), you may lose the COBRA policy when Medicare becomes effective. If you have insurance through full time employment, Medicare can assist with the out of pocket and deductible expenses of your employer insurance plan If you are working full time, you may want to consider getting Medicare. But, first, figure out if it is cost-effective. Since Medicare Part B costs $121.80 per month, on average, the total cost for Medicare over a year is $1,461.60. If your total out of pocket and deductibles are less than $1,461.60, getting Medicare may not be in your best financial interest. If your deductible and out of pocket costs are more than $1,461.60, then the Medicare benefit can save you money. It is important to note that Medicare will cover 80% of healthcare expenses. Without supplemental insurance, your total cost will be the premium price plus the remaining 20%. There also comes a point (30 to 33 months from the time you start dialysis which is also referred to as