Original Medicare
Medicare is health insurance for individuals age 65 or older. Individuals under age 65 who have a disability, have been diagnosed with End-Stage Renal Disease (ESRD) or have Amyotrophic Lateral Sclerosis (ALS, aka Lou Gehrig’s Disease), may be eligible for Medicare earlier.
Above: Sample of a Medicare card.
Medicare Part A
Medicare Part A is considered hospital isnurance. Services billed under Part A include:
- Inpatient care in hospitals
- Skilled nursing care (i.e. inpatient rehabilitation)
- Hospice care (inpatient)
- Skilled home health care
For most Medicare-elgibible enrollees, Medicare Part A has no premium. Part A has a per benefit period deductible. Visit Medicare to learn more about Medicare costs.
Medicare Part B
Medicare Part B is considered medical (outpatient) insurance. Services billed under Part B include:
- Doctors and health care providers
- Outpatient services
- Home health care
- Preventive services
- Durable medical equipment
Medicare Part B has a monthly premium, covers 80%, and has an annual deductible. Visit Medicare to learn more about Medicare costs.
There are policies and guidelines to consider when enrolling in Medicare Parts A and B, and Medicare Plans. It is very important to understand the policies in order to prevent:
- Gaps in medical and/or drug insurance
- Late enrollment penalties
- Delay in insurance coverage
- Higher premiums