What is Medicare?
Medicare is a government insurance program offered to people 65 years or elderly and people with certain disabilities, such as End-Stage Renal Disease. It assists elder people with aid for medical, vision, dental, hospital and other health related costs.
How does it work?
There are two types of Medicare: Original Medicare and Medicare Advantage .
Original Medicare allows you to go to any doctor and facility that accepts Medicare. This program only covers hospital and medical costs up to 80%, which falls into the Part A & Bof Medicare. There is no limit to what you pay out of pocket. Original Medicare only covers a certain amount of days in the hospital or a facility. As well, Original Medicare rarely covers any out of country medical emergencies.
Medicare Advantage also known as part C & D can cover dental, vision and prescriptions drugs with also covering hospital and medical costs. This Unlike Original Medicare, Medicare Advantage has an out-of-pocket maximum, which means that after you hit your deductible maximum the plan starts to pay 100% of most of your bills. This plan might also cover out of country emergency medical bills, check with your provider about this.
There is also Part A, Part B and Part D
Part A covers :
Plan A of Medicare is
- Inpatient care in a hospital
- Skilled nursing facility care
- Nursing home care (inpatient care in a skilled nursing facility that’s not custodial or long-term care)
- Hospice care
- Home health care
Part B covers:
Breaks into two sections: Medically necessary services & Preventive services
- Clinical research
- Ambulance services
- Durable medical equipment (DME)
- Mental health
- Partial hospitalization
- Limited outpatient prescription drugs
Part D covers:
Part D covers all prescriptions drugs that you might need. It is a separate program that only coverages prescribe drugs. It is important to select the best program for your needs.
Who qualifies for it?
- Any person of 65 or older age
- People under 65 with certain disabilities can also qualify
- People with End-Stage Renal Disease (ESRD), which is the permanent kidney failure (either required to do dialysis or a kidney transplant)