Medicare


What is Medicare?

Medicare was established by the US Government as a health insurance system to help their citizens to cover the costs of their health care.  People over the age of 65 are eligible as well and people under 65 that have certain disabilities (such as end stage renal disease, better known as kidney failure).

Medicare will cover the cost of many health care supplies and services. It does not pay for all services. There is co-insurance, deductibles and other expenses that may be out-of-pocket.

Here are some components that are part of Medicare:

Part A

  • Hospital:
  • Inpatient hospital stay, skilled nursing facility, hospice care,
  • In certain isolated cases, home care
  • Blood Transfusions
  • Skilled nursing care for a period of time

Part B

  • Medical Expenses not covered by Part A
  • Doctors services, other medical services ( physical and occupational )
  • Out-Patient Care
  • Preventative Shots
  • Monthly premium required. usually $104.90..but can be more based on income

Part C (also known as Medicare Advantage Plans)

  • Preferred Provider Organizations (PPOs.)
  • Health Maintenance Organizations HMOs  
  • Private Fee For Service (PFFS)
  • Managed and Run by private Insurers
  1. Can include prescription drug coverage
  2. Additional benefits
  3. Must use doctors and hospitals in service area
  4. May have a monthly premium

Part D (Prescription Drug Coverage)

  • Run by private insurance companies that are approved by Medicare
  • Additional Premium for this coverage
  • You must join a prescription plan or choose a Medicare Advantage Plan that covers the costs of the prescription plan 

Medicare applicants must enroll in Medicare Part A and Part B to receive benefits of the Supplemental plans. 

Medicare Supplements (also known as Medigap)
How to Sign up for Part A and Part B
Medicare Select and Medicare Advantage