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Resources to Help You Understand the Medicare Insurance Marketplace
What Is Medicare And What Does It Cover?
Medicare is a federal health insurance program for people 65 or older, those under 65 with specific disabilities, and those of any age with End-Stage Renal Disease (ESRD).
Currently, there are four parts to Medicare, namely Part A: is all about Hospital Insurance Part B: Medicare Insurance Part C: Medicare Advantage Plans Part D: (Prescription Drug Coverage).
Most people eligible for Medicare plan contribute to the program through their payroll taxes while working.
Original Medicare, Part A and Part B cover a wide range of medical services and supplies. Hospitalizations, skilled nursing facility care, hospice care, and some home health care are some of the benefits covered by Part A. In Part B, doctors’ visits, outpatient care, and medical supplies are covered.
If you have Original Medicare, you can also add a private supplemental insurance policy known as Medigap to help pay some out-of-pocket costs not covered by Medicare.
Medicare Advantage Plans (Part C) is an alternative to Original Medicare. Private insurers approved by Medicare offer these plans. If you enroll in a Medicare Advantage Plan, you will still have Medicare Parts A and B, but your benefits will be provided through a private insurer. Most Medicare Advantage Plans also offer prescription drug coverage (Part D).
Medicare Part D, helps pay for the cost of prescription drugs. Private insurers approved by Medicare offer this coverage. You can get this coverage through a stand-alone Part D plan or as part of a Medicare Advantage Plan that includes drug coverage.
If you are eligible for Medicare, you can enroll in Parts A and B through the Social Security Administration. You can also enroll in Part C and Part D through private insurers.
If you have questions about your eligibility or how to enroll, you can contact the Social Security Administration at 1-800-772-1213 or visit the social security website. You can also contact Medicare directly at 1-800-MEDICARE (1-800-633-4227).
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