Medicare is a federal health insurance program for:
- People age 65 or older;
- People with certain disabilities; or
- People with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant.)
Medicare has four parts:
MEDICARE PART A
Helps cover inpatient care in a hospital or skilled nursing facility (following a hospital stay), home health care services, and hospice care services. Co-payments, coinsurance, and deductibles may apply for each service. You usually do not pay a monthly premium for Part A coverage if you or your spouse paid Medicare taxes while working.
MEDICARE PART B
Helps cover doctors’ services, outpatient care, home health services, and other medical services. Part B also covers some preventive services. Copayments, coinsurance, and deductibles may apply for each service. You can find out if you have Part B by looking at your Medicare card. You pay the Part B premium each month. Part A and Part B are often referred to as “Original Medicare”.
MEDICARE PART C
A health coverage option run by private insurance companies approved by and under contract with Medicare. Includes Part A, Part B, and, usually, other coverage like prescription drugs. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs. In addition to your Part B premium, you usually pay one monthly premium for the services provided.
MEDICARE PART D
(Medicare Prescription Drug Coverage)
A prescription drug option run by private companies approved by and under contract with Medicare. Helps cover the cost of prescription drugs, may help lower your prescription drug costs and help protect against higher costs in the future. Part D is available to everyone with Medicare.