What is Medicare?

Medicare is a government-funded health care program for individuals who are at least 65 years old or who have certain health problems or disabilities. Medicare is comprised of four separate parts, each of which provides health coverage for specific services.

Medicare Part A

Medicare Part A provides coverage for hospital stays, skilled nursing care, hospice, and home health care. Those who have paid Medicare taxes generally will not have to pay premiums for Medicare Part A insurance, although some who have not paid taxes may qualify for coverage by paying a premium.

Medicare Part B

The second part of Medicare is optional and covers preventative or routine care, outpatient services, and durable medical equipment. Most U.S. citizens who are eligible for Part A will also be eligible for Part B coverage.

Medicare Part C

Medicare Part C is a group of privately managed insurance options that are available through Medicare-approved personal health insurance companies. These plans are available for an additional premium and provide coverage for a variety of different benefits. These plans are often based on a managed care model, requiring members to use an approved network of providers in order to keep costs down. Others may be fee-for-service models, allowing members more freedom in choosing care providers but costing more out of pocket.

Medicare Part D

Medicare Part D is a prescription drug health insurance plan that is privately run through Medicare-approved companies. Prescription drugs can often be one of the largest monthly medical expenditures for many seniors, making prescription drug coverage crucial. Because costs and benefits can vary widely, those who are looking for a Medicare Part D plan should carefully assess each plan to find the one that is right for them.

Medicare is not a family health insurance plan. If you are looking for a family plan or a Medicare Advantage or supplemental plan, one of our experienced insurance agents can help you.

Source: Health Care Los Angeles