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