Medicare

Medicare Basics

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Medicare is health insurance for people 65 or older and certain people under 65 with disabilities.

Different parts of Medicare help cover specific services.

Part A (Hospital Insurance) helps cover:

Inpatient care in hospitals
Skilled nursing facility care
Home health care
Hospice care

Part B (Medical Insurance) helps cover:

Doctor and health care provider services
Outpatient care
Home health care
Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
Preventative services (like screenings, shots or vaccines, and yearly "wellness" visits)

Part D (Drug Coverage) helps cover:

Cost of prescription drugs (including some recommended shots or vaccines)

Medicare has set rules for private insurance companies that offer and run Medicare Drug Coverage (Part D)

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There are two main ways to get Medicare. When you first sign up, and during specific times of the year, you can choose how you get Medicare.

Original Medicare

Part A (Hospital Insurance) and Part B (Medical Insurance)
Can join separate Medicare drug plan (Part D)
Can use any doctor or medical facility that takes Medicare, anywhere in the U.S.
Can buy supplemental coverage to help pay your out-of-pocket costs in Original Medicare - like Medicare Supplemental Insurance (Medigap), dental insurance, vision insurance, and hearing insurance

Medicare Advantage (also known as Part C)

Medicare-approved plan from private insurance company that offers an alternative to Original Medicare. These plans include Part A, Part B, and usually Part D.
Usually requires use of doctor and medical facility who are in the plan network. Often requires prior authorization from plan before it covers certain drugs or services.
Plans may offer some extra benefits that Original Medicare doesn't cover - like dental, vision, and hearing services.

You should sign up for Medicare when you're first eligible to avoid rist of delay in your Medicare coverage and the possibility of a Medicare late enrollment penalty. Your Initial Enrollment Period starts 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.

Medicare

Medicare Basics

Part A (Hospital Insurance) helps cover:

Part B (Medical Insurance) helps cover:

Part D (Drug Coverage) helps cover:

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