Health Insurance for Your Entire Life
Medicare is America’s national health insurance program for the disabled and those older than 65 years of age. It can be a powerful tool for you to keep in control of your health and well-being. Once you have enrolled in the Medicare program, you can expect a lifetime of health coverage. If you would like to get the most out of your Medicare, then it will be important to review the different parts of the program.
Choosing the Medicare Part That Is Right for You
Approximately sixty million Americans are enrolled in at least one of the four parts of Medicare. They are called Part A, Part B, Part C, and Part D. They are all different from each other. You and an insurance agent will choose the part of Medicare that is right for you. Once you have been fully enrolled in the program, Medicare will contribute to the cost of any medical expenses that it covers. This means that, when Medicare covers a treatment or medical expense, the program will put some amount of money towards helping to pay for it, which will reduce the amount of money you will have to pay out of pocket for treatment.
Medicare Part A
Medicare Part A was designed for hospitals and medical facilities. Part A is mostly meant to cover when you visit the hospital and the treatment that happens inside the hospital. This also covers nursing homes, intensive care units, mental health facilities, and other long-term treatment that happens at a central location instead of your home.
Medicare Part B
Part B Medicare insurance is for your routine care including wellness or preventative doctor visits and behavioral care. This will also include laboratory tests or medical supplies and devices you require at home. Outpatient operations and procedures are also covered under Part B. Essentially this is everything that happens outside of a hospital.
Medicare Schedule C is also known as Medicare Advantage. Medicare Advantage plans are known as “all-in-one” plans. This means that they will combine Part A and Part B, and they and usually include Part D as well. They are meant to be an alternative to Medicare that will be provided through private insurance agencies.
Medicare Part D is the prescription drug plan.This will cover pharmaceuticals the patient is prescribed.
Medigap is a supplemental insurance that can be purchased to cover any gaps in insurance that are not covered entirely by Medicare including deductibles, copays and health care during if needed during international travel. Medigap does not cover long-term care, vision, or dental costs. It usually does not cover prescription drugs.