Medicare Coverage Options
It is important for anyone who is currently thinking about enrolling in Medicare to understand all pieces of the plan before applying. Each section, or part, of the insurance, was put in place to either cover set costs that occur under a specific circumstance or provide alternative forms of healthcare coverage. As you will notice below, the different parts of Medicare come together to form the framework of a solid insurance plan.
Medicare Part A
The first section of Medicare is referred to as “Original Medicare,” and is made up of Part A and Part B. Medicare Part A is the section of the policy that is associated with hospital insurance and some of the costs that are occurred during treatment. In most cases, Part A will shoulder a portion of the costs accompanying the use of hospice care, home health care service, inpatient hospital care, and up to a limited number of days in a skilled nursing facility. When calculating the portion of the costs you owe, it is important to note that Medicare benefits will be taken out of the bill first, and the remainder will be passed down to the beneficiary to be paid.
For most people in the United States, there is no requirement to pay a monthly premium for Part A coverage if the minimum of 10 years of work history has been met.
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Medicare Part B
The second half of Original Medicare is comprised of Medicare Part B. Acting in unison with Part A, Part B covers medical insurance for policyholders that relate to non-hospital expenses. For example, the costs associated with outpatient hospital care, X-rays, blood tests, doctors’ office visits, and screenings for things such as diabetes are listed under Medicare Part B. One of the differences when compared with the first section of Medicare is that beneficiaries will be required to pay a monthly premium, while the benefits pay the cost of most services.
Medicare Part C
With the help of Medicare Part C, or Medicare Advantage, those insured under Medicare can go through a private insurance company to select a plan. By going this route, there are more options and different coverages that can be added, such as dental, vision, and hearing care services. For those considering exploring this option, it is important to keep in mind you still must have Original Medicare before you can qualify for Part C.
Medicare Part D
Medicare Part D makes up the remaining section of the Medicare plan and provides coverage for some prescription drugs. Unlike the other parts of the framework, you do not need to have any other parts of Medicare to get drug coverage under Part D. However, you can receive prescription drug coverage as an added benefit with Medicare Advantage.
As a stand-alone prescription drug plan, policyholders will still need to pay copayments, deductibles, or a percentage of drug costs depending on how the plan is set up.
John Kyle Insurance – An Agency You Can Rely On
With yearly benefit changes, options for private plans, and enrollment criteria, deciding whether or not Medicare is right for you can be challenging. Luckily, the agents at John Kyle Insurance have decades of experience walking clients just like you through the process. Give us a call today at (440) 230-1223 to set up your free consultation and discuss your options.