If you are approaching retirement age, then it is time to start thinking about your medical care. Medicare is a government health care program for people who are 65 years or older, It also covers the disabled and people who have permanent kidney failure. If you plan to sign up, then you need to learn how this health care program works. Read on to find out how Medicare can help you take care of your healthcare expenses.
Covers In-Patient Care
Medicare benefits consist of four parts, which include A, B, C and D. Part A is often called hospital insurance. It covers the cost of inpatient care at hospitals, nursing facilities, hospice and pays for home health care. This insurance also covers the cost for you to stay in a semi-private room.
You should think of Part A as the inpatient hospital benefit. It pays for your room and board during a hospital stay. People who are 65 years and older do not have to pay a premium for Part A.
Covers Out-Patient Medical Care
Part B covers your outpatient medical needs. It insures you for doctor's visits, lab work, surgeries and preventive services. You also get coverage for kidney dialysis and cancer therapy. These treatments would be very expensive without supplemental coverage. The premiums for Part B are base on your income.
Access To Private Insurance
You do not sign up for Part C with Social Security. This coverage is known as private insurance. It allows you to enroll in a Medicare Advantage plan from a private company that is approved by Medicare. The cost of a Medicare Advantage plan depends on the carrier, your county of residence and specific plan selected.
You must be enrolled in Parts A and B before enrolling in Part C. It helps to understand that you still have to pay premiums for Part B even while paying premiums for Part C.
Covers Prescription Medication
Part D covers your prescription medication. You can buy the medication from the pharmacy or through mail order. To sign up for this coverage, you have to enroll in a medication plan with a carrier.
It is important to live a healthy lifestyle and get regular check-ups with a primary doctor. You can get sick at any time and need to stay at the hospital. If you do not have health insurance, then you can be left with an expensive bill. It helps to know what your Medicare covers. To learn more, contact a company like Senior Advisors.
Share31 May 2018
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