Medicare explained.

by Kristina Law | Jan 26, 2015 | Financial, Main | 0 Comments

What is Medicare and who is it for?

What does it do?

We're going to go over the key points you need to know!

 

 

Medicare explainedWHAT IS IT? Medicare is a national social insurance program, administered by the U.S. federal government since 1966.

WHO IS IT FOR? In general, all persons 65 years of age or older who have been legal residents of the United States for at least 5 years are eligible for Medicare. It also is for younger persons with disabilities meeting the criteria necessary. There are several different plans to be eligible for Medicare. For more information on the different plans, click here. We'll also look at them below.

WHAT DOES IT DO? Medicare has 4 plans; Each plan will allow the insured to have different things paid for by the government concerning medicine. As promised, we're gonna break them down! We're going to take this straight from medicare.kaiserpermanente.org.

 

A Hospital insurance- Medicare Part A helps pay for inpatient hospital care, skilled nursing care, some home-health services, and hospice care.

B Medical insurance- Medicare Part B helps pay for physician services, outpatient hospital care, and other medical services not covered by Part A. Together, Parts A and B are known as Original Medicare.

C Medicare Advantage- Medicare Part C, usually known as Medicare Advantage, is offered by private health care organizations such as Kaiser Permanente. These plans cover all services under Parts A and B and usually offer additional benefits.

D Prescription drugs- Medicare Part D helps pay for outpatient prescription drugs and is available through private health care organizations such as Kaiser Permanente. Part C plans often include Medicare Part D coverage.

 

For more information, click on the links above. Find out if you're eligible and, if so, how to get it!

If you are seeking advice for financial information, we highly recommend contacting Utah Senior Planning.

 

 

 

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