Coppell Medicare Insurance Agent
Medicare and insurance are two different types of health care coverage. Medicare is a federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant). Insurance, on the other hand, is a contract between an individual or entity (the insured) and an insurance company (the insurer) whereby the insurer promises to pay for specified losses incurred by the insured in exchange for a premium.
Here is a table that summarizes the key differences between Medicare and insurance:
| Feature | Medicare | Insurance |
|---|---|---|
| Who is eligible? | People who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant) | Anyone who can afford to pay the premiums |
| What does it cover? | Hospital stays, skilled nursing facility care, hospice care, some home health care, and preventive services | A variety of health care services, depending on the type of plan |
| How much does it cost? | There are premiums, deductibles, and copays | Premiums, deductibles, copays, and other out-of-pocket expenses |
| How do you enroll? | You can enroll during the Initial Enrollment Period (IEP), the Medicare Advantage open enrollment period, or a Special Enrollment Period | You can enroll at any time, but there may be restrictions |
If you are eligible for Medicare, you may also want to consider purchasing an insurance policy to supplement your Medicare coverage. This can help you to pay for costs that Medicare does not cover, such as dental care, vision care, and hearing care.