Medicare

Medicare 101

Original Medicare is made up of several parts

parts

what each part covers

part a

Covers:
– Inpatient hospital stays
– Care in a skilled nursing facility
– Hospice care
– Some home health care

Cost:
– No monthly premium
– Deductibles/copays (varies depending on the service)

*Example: If you were hospitalized for three days you must pay $1,316 for your Part A deductible.

part b

Covers things like:
– Doctor visits
– Outpatient care
– Medical supplies
– Preventative services
– Mental Health services
– Ambulance services
– Laboratory tests and X-rays
– Rehabilitation services
– Home Health Care

Costs:
– Monthly Premium
– Annual Deductible
– 80/20 coinsurance of Medicare approved amount

*Example: If the Doctor bill is $100, the beneficiary pays $20 or 20%.

part c

(Also called a Medicare Advantage Plan) 

Covers:
– Part A
– Part B
– Many also cover part D
– Coverage is all under one plan administered by a private insurance company.

Cost:
– Monthly premium varies between private insurance company
– If it covers part D, there may be a prescription Annual Deductible
– Copays for different services

part d

(Also called Prescription Drug Plan) 

Covers:
– Medications

Cost:
– Varies

*Part D Prescription Drug Plan, although part of the Medicare Program, is not offered directly through CMS – The Center for Medicare and Medicaid Services. If one wishes to enroll in Part D program, it is done through a private insurance company’s approved plan.

17.8 %

Percentage of Americans covered by medicare in 2018

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