Medicare is a two-part federal health insurance program: hospital insurance benefits, Part A, and medical insurance benefits , Part B. Medicare also offers prescription drug coverage, Part D. Visit Medicare’s official website.
Medicare Part A
Medicare Part A helps cover hospital care and related services.
- Inpatient care in hospitals
- Critical access hospitals
- Inpatient rehabilitation facilities
- Long-term care hospitals
- Inpatient care in a skilled nursing facility (not custodial or long term care)
- Hospice care services
- Home health care services
- Inpatient care in a Religious Nonmedical Health Care Institution
There is a yearly deductible for Part A covered services. Participants are eligible to receive Part A coverage premium-free if they‘ve paid Medicare taxes while working. Otherwise, they may be eligible to purchase Part A coverage for a monthly premium.
Medicare Part B
Medicare Part B helps cover medically-necessary services like doctors' services, outpatient care, home health services, and other medical services. Part B also covers some preventative services.
Participants receive Part B coverage for a monthly premium. The monthly premium may be higher if a beneficiary doesn't sign up for Part B when they first become eligible. There is a yearly deductible for Part B covered services.
Medicare Part D
Medicare Part D helps cover Medicare-approved prescription benefits.