Getting familiar with Medicare
Part A
Original Medicare, referred to as Medicare, is a program administered and regulated by the Centers for Medicare and Medicaid Services (CMS). Created in 1965, it is a program available to seniors 65 and older, or those younger than 65 with certain disabilities and at any age with End Stage Renal Disease.
You are eligible for Medicare if you are:
-
A citizen or permanent resident of the United States
-
Seniors age 65 or older
-
Under 65 with certain disabilities
-
Any age with end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS, also called Lou Gehrig's disease)
Medicare has four parts:
Helps to cover
-
Inpatient care in hospitals
-
Skilled nursing facility care
-
Hospice care
-
Home health care
You will have out of pocket costs for your hospital stay, such as deductibles and coinsurance.
Part B
Helps to cover
-
Services from doctors and other health care providers
-
Outpatient care
-
Home health care
-
Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment
-
Many preventive services (like screenings, shots or vaccines, and yearly "Wellness" visits)
With Part B, there are additional costs, such as a monthly premium, annual deductible and coinsurance.
Part D
Part A and Part B together are called Original Medicare.
Helps to cover
-
Cost of prescription drugs (including many recommended shots or vaccines)
To receive drug coverage, you have to purchase a Prescription Drug Plan (PDP) to add to your Original Medicare or enroll in a Medicare Advantage plan (Part C) with prescription drug coverage included.
Part C
Part C is also known as Medicare Advantage, is a combination of Part A, Part B (and usually Part D). It offers coverage to cover your total health and well-being in one plan. Many of these plans offer extras not found in Original Medicare, such as dental, vision, hearing and gym membership. It has a predictable cost with set co-pays and out of pocket cost limits
+
+
