HONOLULU (KHON2) — Medicare is health insurance coverage for people 65 years old and older, and for those with disabilities or other conditions.

“When it comes to Medicare people need to know that they’re options for our people. It’s not just cut and dry, one plan fits everybody,” says Kamaka Jingao, Financial Benefits Insurance.

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Kamaka Jingao is a Medicare specialist at Financial Benefits Insurance and explains Medicare’s two basic parts.

Medicare Part A, you get by working 10 years or 40 quarters. That’s your hospital insurance. Most people get that at zero cost because you get that by working 10 years or 40 quarters. Medicare Part B covers your doctor, outpatient, durable medical supplies, your medical insurance. That one however is not free,” says Jingao.

The monthly premium for Part B in 2022 is $170. But it could be higher based on your income.

“Medicare takes care of 80% of the cost. The individual is responsible for 20% of the cost. 20% of what is what we always think about. Is it 20% of $100 or $20 is not too bad. But $100,000? Not too many local people want to spend $20,000 on medical expenses. They’d rather go to Las Vegas obviously,” says Jingao.

Jingao encourages individuals to work with a local agent to assess their situation. Are they working? Are they collecting Social Security? Are they State retirees?

“My aunty is a State retiree. During these times, she’s getting these mailers, flyers, TV ads so she always comes to me every year and says which plan am I going with? But since she’s a State retiree, one of the benefits is that they get their Part B premiums reimbursed to them every quarter. So that a huge benefit that State retirees don’t want to lose out on,” says Jingao.

So what’s the difference between Medicare and Medicaid?

“The difference between Medicare and Medicaid. So Medicare is insurance through the federal government and private insurance companies. Medicaid is health insurance through the State. So that’s based on income and assets,” says Jingao.

Plus, Medicaid is free or at a low cost. The bottom line, explore your options.

“They may qualify for a lot of benefits that can save them their Part B premium. That’s $170 a month. For some seniors, that’s a big savings,” says Jingao.