July 27, 2009

Medicare Guide

Medicare is the nation’s largest health insurance program which covers nearly 40 million Americans. Medicare is a Health Insurance Program for people age 65 or older, some disabled people under age 65, and people of all ages with End-Stage Renal Disease (permanent kidney failure treated with dialysis or a transplant).

medicare-system

With Medicare, beneficiaries can choose from different Medicare health care and prescription drug coverages.

Medicare has Two Parts:

  • Medicare Part A (Hosptial Insurance) – Most People don’t have to pay for Medicare Part A.  This insurance covers Care in Hospitals as an inpatient, hospice care and some home health care.
  • Medicare Part B (Medical Insurance) – Most People have to pay monthly premium for Medicare Part B.  Doctors’ services that are not covered by Medicare Part A such as physical and occupational thearapists.  Average monthly premium for Medicare Part B was $96.40 per month in 2009.

Medicare Part C (Medicare Advantage Plans) –  Is similar to an HMO or PPO.  Medicare Part C is a health coverage choice run by private companies appproved by Medicare.  The plan includes Medicare Part A, Part B and usually other coverage including prescription drugs.

Medicare Part D (Medicare Prescription Drug Coverage) – Medicare offers prescription drug coverage for everyone with Medicare.  Medicare drug plans are run by insurance companies and other private companies approved by Medicare.  Beneficiaries must enroll and pay a separate premium for these plans.

Medicare Suppement Plans – Medigap Policy – A Medigap (also called “Medicare Supplement Insurance”) policy is private health insurance that is designed to supplement Original Medicare. Th is means it helps pay some of the health care costs (“gaps”) that Original Medicare doesn’t cover (like copayments, coinsurance, and deductibles). Medigap policies may also cover certain things that Medicare doesn’t cover. If you are in Original Medicare and you have a Medigap policy, Medicare will pay its share of the Medicare-approved amounts for covered health care costs.

California Medicare Pennsylvania Medicare
Texas Medicare Ohio Medicare
New York Medicare Michigan Medicare
Florida Medicare Georgia Medicare
Illinois Medicare North Carolina Medicare

Medicare system in Other States