Medicare Basics (4)
What it is?
What it covers?
Who is eligible?
What are the costs?
How to enroll?
What health care benefits are available in retirement? Health care in retirement is available from many sources. Government programs (such as Medicaid and Medicare) offer numerous health care benefits. However, you may need to purchase supplemental health insurance or Medigap, as well.
What government programs offer health-care benefits?
In some cases, you may be able to get health-care coverage through a government program. The three primary government programs that offer health care benefits are Medicare, Medicaid, and the Department of Veterans Affairs (VA, formerly the Veterans Administration). Many states also offer additional programs.
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) became law on April 16, 2015. In addition to extending funding for the Children's Health Insurance Program (CHIP), this act modifies certain Medicare provisions. If you are currently covered by Medicare or will be in the near future, you may be interested in learning more about these changes, including the ones summarized below.
It's wise to purchase health insurance to supplement your Medicare coverage, because Medicare generally won't cover all of your medical expenses. Usually, you'll have to satisfy a deductible before Medicare pays anything, and you'll also pay a co-payment when you visit a physician or are admitted to the hospital.