Medicare is a Federal health insurance program for people age 65 and over and for people under 65 who have been declared medically disabled by social security.
Medicare Part A covers hospital costs, hospice and skilled nursing (rehabilitation) costs. Medicare Part A has deductibles and co-insurance that must be paid by the consumer or other insurance.
Medicare Part B covers physician care, outpatient services and other medical services outside of the hospital. Part B also has an annual deductible and only pays 80% of Medicare allowed expenses. Deductible and co-insurance amounts are paid by the consumer or other insurance.
Part D is Medicare Prescription drug coverage. There are multiple plans available in each state. Prescription drugs are not covered under parts A and B of Medicare.
Medicare Supplement (Medigap) plans are insurance plans designed to cover the deductibles and coinsurance amounts that Medicare does not cover.
Medicare Advantage Plans (Part C of Medicare) combine Part A, B, and D into one plan. Multiple companies offer Medicare Advantage plans.
To get started with a Medicare plan today, contact our team at the Todd Agency.
