Medicare What You Need To Know
Medicare programs provide health insurance coverage to:
- People who are 65 years and older
- People with disabilities
- Patients suffering from kidney failure
Medicare insurance options are categorized into three parts:
Part A (Hospital Insurance)
Part A of Medicare covers all costs related to in-patient care such as hospitalization and hospice care. A portion of the costs will be paid by you as a deductible and the rest will be covered by Medicare.
Part A of your insurance premium can be waivered if you or your spouse have been filing Medicare taxes.
Medicare Part A covers:
- Critical access hospital care
- Skilled short-term nursing
- Hospice care
- Home health care
There are some specific criteria that need to be met in order to receive full coverage of the above services.
Part B (Medical Insurance)
Part B of Medicare pays for preventive care, particular medical equipment and doctors’ services.
Part B requires monthly premium payments.
Medicare Part B covers:
- Doctors’ fees
- Outpatient care
- Physical therapy
- Occupational therapy
- Home health care (specific not across the board)
Whenever you’re in need of medical services, Part B will cover doctors’ fee, preventive care costs and the cost of any medical equipment you may need.
Prescription-Drug Coverage – Part D
Like Part B, Part D coverage also requires premium payment on a monthly basis.
Anyone who enrolls in Original Medicare (Part A and Part B) will also receive Part D. Part D of Medicare covers a portion of the costs of prescription drugs. With this part of Medicare, you can rest assured that you can afford the drugs you need.
Each individual approaching the age of 65 years has a 7-month period to apply for Medicare. This includes the 3 months before the individual’s birthday, the month of the birthday and the 3 months after they turn 65.