What is Medicare?
Medicare is an insurance program that is offered by the US government. It provides health care coverage to individuals who fit into a few different brackets including: being age 65 and over, under age 65, but there is a permanent physical disability or a congenital physical disability, or there are other special criteria that can qualify an individual as well.
There are various parts to the Medicare insurance plans, with each part covering different expenses that you may incur. You need to be aware of the various benefits that you are entitled to receive under your Medicare plan. The following will give you a breakdown of what each part is, as well as what it covers.
Part A is the part of your insurance that covers your inpatient hospital stays, including a semiprivate room, food, and any tests that need to be conducted. There are also options where you may be covered for a brief stay at a skilled nursing facility, providing certain criteria have been met. Typically, to use the nursing facility care you must have stayed in the hospital for at least three days prior to your admission into the facility. You also need to have been diagnosed with a condition that is leading you to need the additional hospitalization.
Part B is the medical insurance service that helps to pay for some of the services, or products, that Part A did not cover. Normally, this is done on an outpatient basis, versus inpatient for Part A. Part B is only optional and can be deferred if there is still a working individual in the home. You can be penalized for not enrolling in Part B, providing that you are not working. Once you have reached your deductible amount for the year, Part B will kick in and start covering your insurance expenses. Your typical physician services are covered under Part B, such as x-rays, lab tests, and vaccinations.
Part C allows you to choose a supplemental plan that is offered through private insurance companies. Medicare Advantage plans will cover some of the benefits that the typical Part A and B will not cover, such as dental care, prescription drugs, vision care and gym memberships. You may have to pay additional fees every month for these benefits, as well as the possibility of being limited to choice of providers.
Part D is specifically for prescription drugs. Anyone who receives Medicare Part A or B is eligible for Part D. The only problem with this plan is that they get to choose which drugs they are going to cover and which ones they are not. If you are eligible for Medicare, you should also look into Medicaid to cover the expenses that are not covered under your Medicare coverage.
For more details, Visit the Official U.S. Government site www.medicare.gov
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