Maybe you are turning 65 and considering opting for health insurance to help cover medical expenses. Many people prefer to understand all the health insurance-related options to choose the one that meets their needs the most. In this regard, Medicare is one of the most common healthcare plans that people enroll in to receive health coverage.
However, for Medicare to benefit you, it is essential to understand how it works. If you have never tried to find out about Medicare, understanding the whole program might seem overwhelming to you. In general, Medicare is a complicated program if you try to understand its medical advantages and eligibility criteria as a whole.
It is better to understand each part separately, including coverage for almost everything from doctors’ visits, hospital care, and prescription drugs.
Let’s delve into the details to determine how different parts help you pay for different healthcare costs.
Understanding Medicare Parts
Medicare typically is a healthcare insurance program from the federal government. You’re eligible to enroll in the program if you’re 65 or older. You can get into the program at any age if you have symptoms of an end-stage renal disorder or any disability. The health insurance program comprises four parts, A, B, C, D, and covers you for different healthcare costs.
Medicare Part A – Hospital Coverage
Part A of Medicare generally offers coverage for hospital facility costs. This part includes the cost of hospital rooms, nurse care, and meals. Plus, it also helps people cover the cost of home health care, hospitalization, and skilled nursing facilities. Know that you automatically enter Part A if you are currently enrolled in Social Security. And, if you have worked for at least ten years and paid into Medicare taxes, Part A will be at no cost to you.
Medicare Part B – Doctor and Outpatient Services
Part B is for the cost of outpatient services. It typically helps you pay for medical costs that include visits to doctors, screenings, transportation, and outpatient procedures. Also, Part B covers some preventive care, like vaccines.
Medicare Part C – Medicare Advantage
Medicare Part C pays for medical, hospital costs, and more. Note that Part C plans are available via private health insurers. They are Medicare Advantage plans and offer coverage for everything included in Parts A and B. They also provide prescription drug coverage.
Some of the plans also cover hearing, dental, and vision care costs. To enroll in the Medicare Advantage plan, you have to sign up for Part A and B first.
Medicare Part D – Prescription Drugs
Medicare Part D is insurance coverage for prescription drugs. Like Plan C, the health coverage is available via only private health insurers. The plans offer coverage for generic drugs, brand-name, and some premium. You may have to pay an annual deductible.
Each Medicare plan offers different coverage for various healthcare costs. That is why it is important to understand what each Medicare plan includes. Consulting a professional for all of your Medicare questions is the best option to better your understanding. Call Kannonball Insurance to explore more about your Medicare options.