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Basics of Medicare

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Many people have heard of Medicare, but few truly understand the basics of Medicare. The best way to sum up Medicare is by understanding that if you are 65 and older then you can qualify for this coverage. Medicare is a type of federal health insurance that comes with an age requirement, but there are also some exceptions. For example, individuals with certain forms of disabilities qualify for Medicare and individuals with kidney failure also usually qualify for it. Medicare is unlike Medicaid, because Medicaid is available for families with limited resources at any age. However, Medicare was enacted for individuals who are either at least 65 years of age or have certain disabilities.

Medicare is a federal insurance program that offers different levels of coverage. Knowing the basics of Medicare will help you decide which plan will be most beneficial to you.  Each type comes with different benefits and restrictions. The first type of Medicare insurance available is Medicare Part A. This type of Medicare deals primarily with hospital coverage. Therefore, Part A covers inpatient stays at hospitals, nursing homes and some hospice care facilities. This type of Medicare insurance is extremely valuable, because hospital bills can be very expensive. Individuals with Medicare Part A benefits can seek care at healthcare facilities without accumulating outrageous medical expenses.

Medicare Part B is the second type of coverage and it deals primarily with doctor services. This is one of the most popular types of Medicare coverage, because it covers a broad range of health related services and treatments. Medicare Part B can be used for doctors’ visits and any type of outpatient care that is provided. It also covers some medical supplies and will often cover the cost of specified preventative health services. You can find more than the basics of Medicare on government websites.

Medicare Part C is unlike Parts A and B, because it is referred to as an advantage plan.

This type of advantage plan is only offered by private companies instead of federal establishments. Therefore, these private companies offer individuals contracts that give them full coverage of both Medicare Part A and B benefits. However, these advantage plans often come with added fees and most of the services are not paid for under Original Medicare plans. The main benefit of Medicare Part C is that you will have coverage for prescription drugs. This is an added benefit that can be very useful for individuals typically who have to pay out-of-pocket for their prescriptions.

Medicare Part D simply involves adding prescription coverage to your Medicare plan that is already in existence. Having any of the Medicare plans will give you access to healthcare, but there are restrictions depending on the type of coverage that you have. The basics of Medicare can be complicated, but there are available resources to improve your understanding.