Hurst Medicare Plan Store

Hurst Medicare Plan Store

Medicare Explained

Medicare is a federal health insurance program for people 65 years of age and older, people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or transplant).

There are four parts to Medicare:

• Part A covers inpatient hospital stays, skilled nursing facility care, home health care, and hospice care.
• Part B covers doctor visits, outpatient care, preventive care, and some other services.
• Part C (Medicare Advantage) is a private health plan that combines Parts A and B.
• Part D covers prescription drugs.

Eligibility

To be eligible for Medicare, you must meet certain requirements, including:

• You must be 65 years of age or older.
• You must have worked for at least 10 years in Medicare-covered employment.
• You must be a U.S. citizen or permanent resident.

If you are not 65 years of age, you may also be eligible for Medicare if you have a disability or End-Stage Renal Disease.

Premiums

The cost of Medicare depends on your income and whether you have Part A or Part B.

• Part A is premium-free for most people. However, you may have to pay a deductible and coinsurance for certain services.
• Part B has a monthly premium that is deducted from your Social Security, Railroad Retirement, or Civil Service Retirement check. The premium amount depends on your income.
• Part C premiums vary depending on the plan.
• Part D premiums vary depending on the plan and your prescription drug costs.

Medicare Supplement Insurance

Medicare Supplement Insurance (Medigap) is private insurance that can help pay for the gaps in Medicare coverage. Medigap plans can help pay for things like coinsurance, deductibles, and out-of-pocket costs.

Medicare Advantage Plans

Medicare Advantage Plans are private health plans that offer all of the benefits of Parts A and B, and sometimes Part D. Medicare Advantage Plans may also offer additional benefits, such as vision, dental, and hearing coverage.

Choosing a Medicare Plan

There are many different Medicare plans available, so it can be difficult to choose the right one. Here are some factors to consider when choosing a Medicare plan:

• Your health needs
• Your budget
• Your prescription drug needs
• The availability of plans in your area

Getting Help Choosing a Medicare Plan

There are many resources available to help you choose a Medicare plan. You can talk to a Medicare counselor, or you can visit the Medicare website.

Conclusion

Medicare is a complex program, but it can provide valuable health insurance coverage. By understanding the different parts of Medicare and your eligibility requirements, you can choose the right plan for your needs.