What is Medicare?
Medicare is a U.S. government health insurance plan providing hospital, medical, and surgical benefits for persons age 65 and older, and younger people with certain disabilities. Medicare helps with the cost of health care, but it does not cover all medical expenses or the cost of most long-term care.
There are four parts to Medicare, with different fees and eligibility requirements for each;
Medicare Part A is a free service providing basic hospital insurance, helping pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care and hospice care.
Medicare Part B helps pay for doctors' services and many other medical services and supplies that are not covered by Part A hospital insurance. A monthly premium is required.
Medicare Part C, also known as Medicare Advantage, is available only to people who receive Medicare Part A and Part B care. It provides coverage for those parts of treatment not already covered by Part A and Part B, such as extra days in hospital. Because of the extra benefits offered, there is often a monthly premium required.
Medicare Part D provides prescription drug coverage, helping to pay for medications prescribed for treatment. This is a voluntary part of Medicare, available only to those who have Part A, B and/or C coverage. A monthly premium is payable.
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