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). It helps to pay for many medical care services, including:

• Hospital stays
• Physician visits
• Prescription drugs
• Preventive services
• Skilled nursing facility and home healthcare
• Hospice care

Medicare is funded by a combination of payroll taxes, premiums, and general revenue. Most people who are eligible for Medicare do not have to pay a premium for Part A (hospital insurance), but they do have to pay a premium for Part B (medical insurance). Medicare Part D (prescription drug coverage) is optional and requires a premium.

Medicare works by providing coverage for a set of covered services. When you receive a covered service, you will pay a copayment or coinsurance. The amount of your copayment or coinsurance will vary depending on the type of service you receive. For example, you may have to pay a $250 deductible for a hospital stay, but you will only have to pay 20% of the cost of your doctor visits after you have met your deductible.

There are many reasons why someone might need Medicare insurance. Some of the most common reasons include:

• To help pay for medical expenses
• To have peace of mind knowing that they have health insurance
• To qualify for additional benefits, such as Medicare Advantage plans
• To receive preventive care services, such as cancer screenings and vaccinations
• To access prescription drug coverage
• To receive hospice care if needed

If you are eligible for Medicare, I encourage you to sign up. It is a valuable resource that can help you stay healthy and financially secure in your retirement years.

Here are some additional details about Medicare:

• Medicare Part A: Medicare Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
• Medicare Part B: Medicare Part B covers doctor visits, outpatient care, preventive services, and some home health care.
• Medicare Part C: Medicare Part C, also known as Medicare Advantage, is a private health insurance plan that provides all the benefits of Medicare Part A and Part B. Medicare Part C plans may also include prescription drug coverage.
• Medicare Part D: Medicare Part D is a prescription drug benefit that is available to people with Medicare.

To learn more about Medicare, you can contact Ashford Insurance at 817-952-3153 for a free consultation today.