If you are eligible for Medicare, it can be a bit overwhelming to figure out which benefits apply to you. Learn what it takes to be eligible for Medicare and how coverage in Part A, B and D differs. Core Insurance Advisors can assist with any remaining questions you have regarding Medicare coverage.
Who is Eligible for Medicare?
There are three types of people who are eligible for Medicare. First, anyone aged 65 years or older can get Medicare coverage. Secondly, individuals with disabilities are eligible for Medicare regardless of age. Finally, those with End Stage Renal Disease (ESRD) requiring dialysis or kidney transplant are eligible for Medicare.
What Is Covered Under Medicare Part A?
As part of what is known as “Original” Medicare, Part A covers hospital charges for inpatient stays, skilled nursing facilities, hospice and home care. Eligible individuals can get Part A coverage with no premium if they are receiving Social Security benefits or had Medicare-coverage through employment (or spouse’s employment). If these factors do not apply, Part A can be obtained with a monthly premium. The amount of the premium will depend on how long the individual paid Medicare taxes while employed.
What Is Covered Under Medicare Part B?
Medicare Part B covers outpatient medical expenses such as visits to the doctor, diagnostic testing, therapy and some preventive care. Many people get Part A and Part B coverage automatically, but others have to sign up. You will know if you are automatically enrolled when you receive notice in the mail before your 65th birthday or shortly after your disability. There may be a late enrollment penalty if you do not sign up for Part B when you are first eligible.
What Is Covered Under Medicare Part D?
Medicare Part D covers your prescription costs. You will not be automatically enrolled in Part D under any circumstance and must elect Part D coverage. Many costs for medications are not covered under Part A and Part B, so Part D can help individuals with high prescription costs.
Core Insurance Advisors Can Help
If you are eligible for Medicare or unsure about your Medicare eligibility, contact the trusted associates at Core Insurance Advisors. They understand the world of Medicare is hard to navigate and can use their many years of experience to lead you in the right direction.