We hear about medicare all of the time, but do we really know what Medicare is? If you aren’t certain, then read on, I will attempt to offer a brief explanation to you, both in its entirety and also in it’s parts.
When you turn 65, in the United State of America, you are eligible for Medicare. Pr th Medicare.gov website, the definition of Medicare is as follows:
“Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).
The different parts of Medicare help cover specific services:
Medicare Part A (Hospital Insurance)
Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
Medicare Part B (Medical Insurance)
Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.”
In 1965, President Lyndon B. Johnson, signed this program into law. I am assuming it is because too many people were faced with having no health insurance at all post retirement. You see, back in those days most employers offered Health Care as part of their employment benefits. People often worked for the same company for 20 or 30 years, but when they retired, unless it was a part of their pension package, they no longer had health insurance.
Medicare Parts B is not free. Each of us has to pay a small premium for Medicare part B. You will find it is fairly comprehensive and covers at least a portion of the medical costs related to health care. But it does not cover everything. For Example, hospitals stays are covered by Medicare Part A, but only up to 80% of allowed costs. Medicare Part B will cover your doctor visits, wellness check ups and other types of care.
Medicare Part D is the portion of Medicare which will take care of your prescription drugs.
Hopefully, this brief explanation will help you better understand exactly what Medicare is and what it does. It may also help you to understand what it does NOT cover. That is why I, Susan, sell Medicare Supplement Insurances. The Various Supplemental Insurance policies will help to defray the cost of services which Medicare doesn’t cover.
I have several different plans to choose from, and I am more than happy to sit down and discuss which plan may be best for you.
Premier Consultant for Medicare Supplemental Insurance of Sebastian and Vero Beach, Florida