What Seniors Need to Know About Medicare
The United States government offers several health care coverage options to American citizens at different times in their lives. Retirees 65 years old and older are eligible to apply for Medicare. Although this coverage doesn’t pay for all of their healthcare needs, many seniors sign up for it because it’s typically available at a lower cost than non-Medicare health insurance plans. Additionally, other types of low-cost supplemental Medicare insurance options are available for anything not covered under the primary Medicare options.
Coverage Within Medicare
Medicare is available as four coverage options: Parts A and B, C and D. Many seniors find it difficult to understand what these areas offer in terms of coverage because of the letter designations. They also don’t always understand their low-cost supplemental insurance choices. The below sections outline in a summary format all of the basic information seniors need to know about Parts A and B, C and D:
Parts A and B
These Medicare areas cover approximately 75 to 80 percent of all inpatient and outpatient care. Parts A and B are considered “standard” or “original” Medicare. Part A covers when a senior has been admitted to a medical facility for treatment. It also covers hospital visits. Part B covers treatment at facilities where the senior does not stay overnight, such as a family doctor’s office or physical therapy facility. It also covers some outpatient treatment procedures. When a senior receives a bill when covered by a plan offered through Medicare Parts A and B, the amount the senior must pay is the difference between the covered amount and the actual cost of care.
Part C
Seniors who desire additional coverage under Medicare have the option to enroll in Part C instead of Parts A and B. Part C offers them the ability to choose one of several “private” plans, known as Medicare Advantage plans, that are made available through private sector insurance companies that the government subsidizes. With Part C, seniors receive a higher level of coverage that usually includes certain types of dental and vision care. Some plans also offer varying degrees of brand-name and generic drug prescription coverage.
