Medicare is a federal health insurance program for:
01
People aged 65 or older.
02
Younger people with disabilities.
03
People diagnosed with End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS, also known as Lou Gehrig’s disease).
Some people get Medicare automatically, while others must actively sign up. It depends on whether you start receiving retirement or disability benefits from Social Security before you turn 65.
What are the parts of Medicare?
The different parts of Medicare help cover specific services:
A
Hospital Insurance
Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
B
Medical Insurance
Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
C
Medicare Advantage
If you have Medicare Part A and Part B, you can choose a Medicare Advantage plan. This plan is offered by Medicare-approved private insurance companies that must follow rules set by Medicare. Most Medicare Advantage Plans include drug coverage (Part D).
D
Prescription Drug Coverage
Helps cover the cost of prescription drugs, including many recommended shots and vaccines.
When you first sign up for Medicare and during certain times of the year, you can choose how to receive your Medicare coverage. There are 2 main options: Original Medicare (Part A and Part B) or Medicare Advantage Plan (Part C).
Some people may need additional coverage, like Medicare drug coverage or Medicare Supplement Insurance (Medigap). Consider the checklist below to compare your coverage options and decide what’s right for you:
