Navigating healthcare as you age can seem overwhelming, but understanding Medicare is key to making informed decisions. Medicare is a federal health insurance program that provides coverage to millions of Americans, especially older adults and individuals with certain disabilities. In this blog, we’ll break down what Medicare is, who qualifies, and what to expect when it comes to costs and coverage options.
What Is Medicare?
Medicare was established in 1965 to help Americans access essential healthcare services. It’s divided into several parts that offer different types of coverage:
- Medicare Part A: Covers hospital stays, skilled nursing facilities, and hospice care.
- Medicare Part B: Covers doctor visits, outpatient care, and some preventive services.
- Medicare Part C (Medicare Advantage): Offered by private insurance companies, these plans include all the benefits of Part A and Part B, plus extra services like dental or vision coverage.
- Medicare Part D: Helps cover the cost of prescription medications.
Together, Medicare Part A and Part B are known as Original Medicare. However, some people choose to enroll in Medicare Advantage (Part C), which is provided by private insurance companies and may offer additional benefits beyond Original Medicare.
Who Is Eligible for Medicare?
To qualify for Medicare, you must meet certain criteria. Generally, you’re eligible if:
- You are 65 years old or older.
- You are under 65 but have a qualifying disability.
- You have End-Stage Renal Disease (ESRD).
If you’re nearing your 65th birthday, you can enroll in Medicare during your Initial Enrollment Period (IEP), which starts three months before the month of your 65th birthday and ends three months after. If you miss this window, you can still enroll during a Special Enrollment Period (SEP) or during the annual Open Enrollment Period.
What Does Medicare Cost?
The cost of Medicare varies depending on the type of coverage you choose and the healthcare services you use. Here’s a quick overview:
- Part A: Most people qualify for premium-free Part A, but if you don’t meet the work history requirements, you may need to pay a premium.
- Part B: Involves a monthly premium, with costs based on your income.
- Part C (Medicare Advantage): Costs vary by plan and provider.
- Part D: Prescription drug plans also have a monthly premium, with costs depending on the plan and medications.
To help with out-of-pocket costs, such as deductibles or copayments, some people purchase Medicare Supplement (Medigap) policies or qualify for Medicaid assistance.
Additional Considerations
While Medicare covers many healthcare services, it doesn’t include everything. For example, Medicare typically doesn’t cover routine vision or dental care, hearing aids, or long-term care. Before selecting a plan, it’s important to evaluate your healthcare needs to ensure you have the right coverage.
If you’re unsure about your options or have questions, resources like Medicare counseling services or the official Medicare website can provide helpful guidance. At Trusted Senior Specialists, we’re also here to assist you in understanding your coverage options and choosing the right plan for your needs.
Need Help with Medicare?
Understanding Medicare is an important step in securing the healthcare coverage you need. At Trusted Senior Specialists, we’re here to make the process easier and help you find a plan that works for you.
If you have questions or need assistance, call one of our Licensed Agents at
Trusted Senior Specialists. There is no cost or obligation for a consultation!
We are available Monday through Friday from 8 AM to 8 PM CST,
and on Saturday by appointment.
You can reach us by calling: 1-855-952-1941 TTY: 711
By calling this number you may be connected with a licensed agent
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