The Medicare Program is a health insurance program for people 65 and over and for those younger than 65 with certain disabilities. Here is how the Medicare Program works.
Medicare Program
The Medicare Program has two categories:
Medicare Part A
Medicare Part A is hospitalization coverage. Most people are automatically enrolled into Part A and receive it premium free. Medicare Part A offers basic coverage of hospitalization and Skilled Nursing Facility care, however it covers hospice and Home Health Services at no cost to beneficiaries.
Medicare Part B
Medicare Part B is medical coverage. Most people are automatically enrolled into Part B and pay a monthly premium of $185. Medicare Part B offers basic coverage of the day to day care such as doctor’s office visits, durable medical equipment, and second opinion, however it covers preventive care and lab services at no cost to you.
Part A or B do not put a max on your out of pocket costs, and neither cover custodial care or Long Term Care.
Is Medicare Advantage in the Medicare Program?
If you are enrolled in Medicare Advantage you are still in the Medicare Program. What this means is that Medicare will still pay for your hospice care, but the rest of your services are covered through a limited, local network. Many people choose Medicare Advantage because it limits your out of pocket costs to as high as $9,350 a year (plans can have a lower max than that).
For further questions about what the Medicare Program is call the number above or contact one of our licensed agents.