What is Medicare?
Medicare is the federal health insurance program for people 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease. It is divided into four parts, each covering different types of health care services.
Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Most people don't pay a premium for Part A if they or their spouse paid Medicare taxes for at least 10 years.
Covers certain doctors' services, outpatient care, medical supplies, and preventive services. Part B has a monthly premium, which is typically deducted from your Social Security payment.
An alternative to Original Medicare offered by private insurance companies approved by Medicare. These plans must cover everything Original Medicare covers and often include additional benefits like vision, dental, and prescription drugs.
Adds prescription drug coverage to Original Medicare. Part D plans are offered by private insurance companies and vary in the drugs they cover and their costs.
Original Medicare vs. Medicare Advantage
You can receive your Medicare benefits through Original Medicare (Parts A and B, administered by the federal government) or through a Medicare Advantage Plan (Part C, offered by private insurers). Each approach has different costs, coverage rules, and provider networks. Our professionals can help you compare your options.