Explanation of Medicare Benefits

Explanation of Medicare BenefitsAre you looking for a good explanation of Medicare benefits?  Medicare is health insurance that is provided by the government, and is partially funded by you through taxes and premiums. You become eligible when:

  • You turn age 65
  • You become disabled before age 65
  • You  develop ESRD at any age

There Are Several Different Parts of Medicare

There are 4 distinct parts that make up the Medicare program.  They are Medicare Part A, Medicare Part B, Medicare Part C, and Medicare Part D

Medicare Part A

Medicare Part A is also known as Hospital Insurance.  This is because it covers your inpatient care in the hospital.  It also covers skilled nursing facilities, home health care, and hospice.

Medicare Part B

Medicare Part B is also known as your Medical Insurance.  It covers doctor’s visits, surgeries, labs, x-rays, and overall preventative services as well as outpatient care.

Medicare Part C

Medicare Part C is privatized Medicare.  It is your Medicare Part A, Part B, and Part D insurance all rolled into one coverage through a private insurance company.  The plans vary by company and usually use a network of physicians and facilities.

Medicare Part D

Medicare Part D is coverage for prescription drugs.  This coverage is only provided through private insurance companies.  For more detailed information on Medicare Part D see my post:

What is Medicare D

Now, the next time someone asks you, what is Medicare; you’ll be able to tell them!

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