What Is Medicare?
Medicare is the federal health insurance program for:
- People age 65 or older
- People under age 65 with certain disabilities
- People of all ages with End-Stage Renal Disease (ESRD)
Those covered by Medicare are often referred to as beneficiaries and can receive health insurance benefits under the following plans:
- Part A (Hospital Insurance),
- Part B (Medical/”Doctor” Insurance),
- Part C ( Medicare Advantage Plans) and
- Part D (Prescription Drug Plans).
Not all Medicare offerings are automatic and many have additional premiums associated with them.
Initially Medicare only offered benefits under Part A and Part B. The combination of these two plans is often referred to as “ Original Medicare”. Original Medicare offers benefits for those eligible, but it does not cover all health care related expenses and these out-of-pocket expenses may overwhelm the Medicare recipient. Medigap/ Medicare Supplement, Medicare Advantage plans and Prescription Drug plans offer additional protection to cover what Original Medicare benefits do not.
Medicare recipients have important options to consider. Your choice in health plans may not only protect you financially, but give you and your family peace of mind.