Medicare insurance

What is medicare?

Medicare is a social insurance program provided to those age 65 and older, or for those with certain disabilities, that covers certain medical services and supplies in hospitals, doctors’ offices, and other health care settings. Services are either covered under Medicare policy Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage), or Part D (Drug Plan). If you have both Part A and Part B, these services and supplies must be covered as long as they are reasonable and necessary for your health, no matter what type of Medicare plan you have. Non-federal supplemental insurance is available as well such as Medigap, because Medicare doesn’t cover all of your health care expenses.

Who is medicare for?

Medicare is a national healthcare program funded by the U.S. federal government. Congress created the program as part of the Social Security Act in 1965 to give coverage to people age 65 and older who didn’t have any health insurance.

The program is administered by the Centers for Medicare and Medicaid Services (CMS) and extends coverage to include people with certain disabilities and those who have end-stage renal disease and amyotrophic lateral sclerosis (ALS), or Lou Gehrig’s disease.

How can medicare fit into your plan?

Medicare eligibility depends on certain criteria. Anyone who has lived in the United States legally for at least five years and is 65 or older qualifies for Medicare coverage. Enrollment in both Parts A and B is automatic for anyone who receives Social Security benefits. Part D coverage is optional and enrollment must be done by the individual. There are four different parts to Medicare, all of which provide different types of services for the insured:

• Medicare Part A - Pays for care at a hospital, skilled nursing facility, or nursing home, and for home health services.
• Medicare Part B - Covers ambulance services, doctor visits, lab tests, and certain medical equipment.
• Medicare Part C - Coverage is the same as Part A hospital, Part B medical coverage, and, usually, Part D prescription drug coverage, with the exception of hospice care.
• Medicare Part D - This is a part of the overall Medicare program which provides enhanced prescription drug coverage.