Medicare Explained

Medicare is health insurance for the following:

• People 65 or older
• People under 65 with certain disabilities
• People of any age with end-stage renal disease (ESRD: permanent kidney failure requiring dialysis or a kidney transplant)

The Different Parts of Medicare:

There are several different parts of Medicare that work together to help cover you for both doctor and hospital care. The following list describes these different parts, along with their functions.

Medicare Part A (Hospital Insurance)

• Helps cover inpatient care in hospitals
• Helps cover skilled nursing facility, hospice and some home healthcare

Medicare Part B (Medical Insurance)

• Medicare Part B (Medical Insurance)
• Helps cover doctors’ and other healthcare providers’ services, outpatient care, durable medical equipment, and home healthcare
• Helps cover some preventive services to maintain your health and to keep certain illnesses from getting worse

Medicare Part C (also known as Medicare Advantage)

Offers health plan options run by Medicare-approved private insurance companies. Medicare Advantage Plans are a way to get the benefits and services covered under Parts A and B. Most Medicare Advantage Plans include Medicare prescription drug coverage (Part D). Some Medicare Advantage Plans may include extra benefits for an extra cost.

Medicare Part D (Medicare Prescription Drug Coverage)

• Helps cover the cost of prescription drugs
• May help lower your prescription drug costs and help protect against higher costs
• Run by Medicare-approved private insurance companies