Medicare is a federal health insurance program for people 65 and older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant).
Medi care has four parts:
- Part A: Hospital Insurance
- Part B: Medical Insurance
- Part C: Medi care Advantage Plans
- Part D: Prescription Drug Coverage
Part A: Hospital Insurance
Part A helps pay for inpatient hospital stays, skilled nursing facility stays, hospice care, and some home health care.
Part B: Medical Insurance
Part B helps pay for doctor visits, outpatient care, medical supplies, and preventive services.
Part C: Medicare Advantage Plans
Part C is a private health insurance plan that provides all of your Medi care Part A and Part B benefits. Medi care Advantage Plans may also include prescription drug coverage.
Part D: Prescription Drug Coverage
Part D helps pay for prescription drugs.
How to Choose Medicare
If you are eligible for Medi care, you will need to choose a plan. You can choose Original Medicare (Parts A and B) or a Medi care Advantage Plan.
If you choose Original Medicare, you will need to buy a Part D prescription drug plan.
If you choose a Medi care Advantage Plan, your plan may include prescription drug coverage. If it does not, you will need to buy a separate Part D prescription drug plan.
The cost of Medi care depends on the plan you choose. Original Medi care has monthly premiums and deductibles. Medi care Advantage Plans have monthly premiums, deductibles, and copays. Part D prescription drug plans have monthly premiums and copays.
If you need help choosing a Medi care plan, you can contact the Medi care Plan Finder. The Medi care Plan Finder is a free online tool that can help you compare Medi care plans in your area.
You can also get help from a Medicare-approved insurance agent or broker. Medi care-approved insurance agents and brokers are trained to help you understand Medicare and choose the right plan for you.
Medicare is a valuable health insurance program that can help you pay for your medical care. If you are eligible for Medi care, I encourage you to learn more about the program and choose a plan that meets your needs.
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