The truth is you are not the only person concerned about Senior Healthcare and Medicare. America has wronged our ever growing population of Seniors with a lack of EDUCATION and provision of Wide Spread, Easily Accessible Materials for our Senior population. As a result, I will provide you with some basic options for Medicare and Healthcare after the age of 64.
The Simple Truths about Senior Healthcare and Medicare
What is Medicare?
Medicare is a federal health insurance program for the following:
- People who are 65 or older
- Certain people with disabilities under 65
- People with End Stage Renal Disease (also called permanent kidney failure with the need of dialysis or transplant)
What are the different parts of Medicare?
- A- This is called your Hospital Care
- Covers your inpatient Hospital Stays, care in skilled nursing facilities, your hospice care, and some home healthcare services.
- B- Doctor and Physician care
- Covers certain doctor services, your outpatient care, medical supplies, and preventive services.
- C- Medicare Advantage Care
- These are also called Medicare Advantage plans
- They are an all in one plan that covers both your Part A&B and often includes a Part D prescription drug coverage as well.
- It is an alternative to Original Medicare and takes the place of your Part A & B.
- These plans are offered through a private insurance company that has been approved by the federal Medicare Program.
- Top Carriers to look at when searching for a medicare advantage plan (click for more info)
- D- Prescription Drug Care
- Helps cover your prescription drugs
Medicare Options
- Original Medicare
- Original Medicare Consists of you having Part A & B
- Your Part A & B Cover 80% of the covered costs by medicare, you are responsible for the remaining 20% of the fees
- Original Medicare Consists of you having Part A & B
- Original Medicare Plus a Medicare Supplement & Prescription Drug Plan
- You have Part A & B for Original Medicare but purchase a Medicare Supplement Plan from an independent insurance carrier, along with a Prescription Drug plan to cover your prescription drugs.
- Therefore, the Medicare Supplement Plan depending on which you choose will cover the additional 20%. (some plans will have deductibles and copayments depending on the plan you choose)
- You have Part A & B for Original Medicare but purchase a Medicare Supplement Plan from an independent insurance carrier, along with a Prescription Drug plan to cover your prescription drugs.
- Medicare Advantage Plan
- This plan will take the place of your Part A & B and often will have your Prescription drug plan included as well. These plans often have low monthly premiums (often $0 plans available) but many will have co-pays and limitations.
- Top Carriers to look at when searching for a medicare advantage plan (click for more info)
For more information on Senior Healthcare and Medicare I recommend going here.