This is the most common health insurance plan for seniors. It is a governmental medical insurance program that provides insurance cover to the people above the age of 65 years. This insurance plan additionally covers the younger persons with intense health conditions or living with disabilities.
Parts of Medicare plan
The Medicare insurance is divided into various parts namely:
• Part A
This is also referred to as the hospital insurance and has been developed with the aim of providing insurance cover to the home healthcare and hospitalization. This part is absolutely free of charge for people who have worked for more than ten years and paid the taxes of social security. You must complete an application form for the Medicare so that you can be covered.
• Part B
This part is inclusive of the medical insurance and covers a variety of health services such as X-rays, visiting the doctor or yearly check-ups and mental healthcare. Just like all the other plans, there is a coverage limit which is certainly not free of charge. You are instantly enrolled into this plan once you become qualified for the social security.
• Part C
Also referred to as the Medicare Advantage, this part enables you to acquire Medicare insurance coverage through the various private insurance firms. An advantage of this part is the fact that it mostly provides a better coverage. However, you are only considered eligible for this part if you have Part B and A. It is also worth noting that the costs change depending on the insurance providers and the state.
• Part D
This part provides coverage to the prescription drugs. It is not mandatory to sign up for membership with this part. However, it is highly recommended for people who frequently take their medications. Monthly premium depending on the amount of coverage is also included in this part.
When you sign up for membership in Medicare plus you can select the Medicare coverage you want. This is simply through two ways namely:
• Original Medicare- this is simply part A and B.
• Medicare Advantage plan- This is simply part C.