Medicare is the US Federal Government Health Insurance Program for:
- People 65 years of age and older
- Some people with disabilities under age 65
Medicare has Four Parts:
- Part A (Hospital Insurance) generally includes hospital insurance that pays for inpatient hospital stays, care in a skilled nursing facility, hospice care, and home healthcare. Most people don’t have to pay a monthly Part A premium because they or their spouse paid Medicare taxes while they were working.
- Part B (Medical Insurance) With Medicare Part B, you will have coverage for medically-necessary services, including doctors’ services, outpatient care, clinical laboratory services, home healthcare, outpatient hospital services, blood services, and some other medical services that aren’t covered by Medicare Part A. Medicare Part B is optional and the Medicare beneficiary will generally pay a premium for this.
- Part C (Medicare Advantage Plans) Medicare Advantage plans are offered by Medicare-approved private insurance companies and are an alternative to Original Medicare since they include all benefits and services covered under Part A and Part B. If you join a Medicare Advantage Plan, you’ll still have Medicare but you’ll get your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage from the Medicare Advantage Plan, not Original Medicare. Medicare pays a fixed amount for your coverage each month to the companies offering Medicare Advantage Plans. .
- Part D (Medicare Prescription Drug Coverage) Medicare drug plans help you pay for medically necessary brand-name and generic prescription drugs at participating pharmacies in your area. The plans are administered by Medicare-approved private insurance companies.