A Guide to Understanding Your Medicare Benefits

Medicare is a federal health insurance program for people who are 65 and older, certain younger people with disabilities, and people with end-stage kidney disease.

Introduction: What Are the Medicare Parts And Why You Need Them?

Medicare Parts: Medicare Part A covers hospital stays, skilled nursing care following a hospital stay, and hospice care. Medicare Part B covers doctor visits, outpatient care, medical equipment, lab tests and other diagnostic services. Medicare Part D covers prescription drugs.

People who enroll in Medicare should enroll in all three parts because it will provide them with the best benefits and coverage.

Medicare Part A and B Coverage – The Basics

Medicare is a government-funded program that is available to all U.S. citizens and permanent residents who are 65 or older, certain younger people with disabilities, and those with end-stage renal disease. Medicare plans cover hospitalization, medical treatments such as doctor visits and surgeries, and prescription drugs.

The first thing to know about Medicare coverage is that there are two parts: Part A covers hospitalization costs for a lifetime of Medicare eligibility. Part B covers outpatient services such as doctor visits and surgeries for a lifetime of Medicare eligibility. In order to get both parts of the coverage, you must have worked long enough under Social Security (usually 10 years) to qualify for the retirement benefits it provides, or have been entitled to disability benefits under Social Security Disability Insurance (SSDI).

Medicare Part D Coverage – The Basics

Medicaid is a joint federal and state program that helps with medical and health care expenses for low-income individuals, families, and children. It is a means-tested program that provides health care coverage to those who do not qualify for Medicare or other public insurance programs. Medicaid is available in every US state but it varies in terms of coverage and eligibility requirements.

The Medicaid program was created in 1965 as part of President Lyndon Johnson’s Great Society initiatives. The program was designed to provide medical assistance to people who were too poor to afford private health insurance or pay for their own medical bills if they became ill or injured.

How To Choose Which Medicare Plan Fits Your Needs?

Medicare is a federally-funded health insurance program that provides coverage to people aged 65 and older, as well as those who are disabled. Medicare offers two types of plans: Medicare Advantage Plans and Medicare Supplement Plans.

A Medicare Advantage Plan is a type of health plan offered by private companies that contract with the Centers for Medicare and Medicaid Services (CMS). These companies provide all of your Part A, Part B, and Part D benefits. They also offer additional benefits such as prescription drug coverage or dental care.

A Medicare Supplement Plan is a type of health insurance plan that covers some or all of what Original Medicare doesn’t cover. This includes co-pays, deductibles, coinsurance, hospitalization costs and other out-of-pocket expenses not covered by Original Medicare.

Talk to a Medicare Benefits Review Specialist at BroadZero Today!