Medicare Parts:
Part A: Hospital Insurance
Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some Home health services.
Most individuals don't pay a premium for Part A if they or their spouse have contributed to Medicare taxes while working.
Part B: Medical Insurance
Covers doctor's services, outpatient care, medical supplies, and preventive services.
Requires a monthly premium, the cost of which varies according to your income.
Part C: Medicare Advantage
Combines benefits of Part A and Part B.
Offered by private insurance companies, it may include extras like prescription drug coverage (Part D) and other benefits.
Part D: Prescription Drug Coverage
Provides coverage for prescription drugs and can be added to Original Medicare or included in a Medicare Advantage Plan.
Offered by private insurance companies, each with unique costs and coverage.
Eligibility Criteria:
- You are 65 years or older, or
- You've received Social Security Disability Insurance (SSDI) for 24 months, or
- You have end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS)
Note: Typically, there's a seven-month Initial Enrollment Period (IEP) starting three months before your 65th birthday. Enroll during this period to avoid potential late enrollment penalties.
Medicare offers a multitude of benefits, including comprehensive coverage for hospital stays, doctor visits, preventive care, and prescription drugs. With nationwide access to healthcare providers and various cost-sharing options, Medicare is a vital insurance program that ensures older adults and individuals with disabilities have access to quality healthcare. Our agency's dedicated professionals are here to simplify the complexities of Medicare and help you find the coverage options that best suit your needs. Contact us today to begin your Medicare journey with confidence!