Medicare is Health Insurance for:
- People age 65 or over
- People under 65 with certain disabilities
- People of any age with end-stage renal disease (ESRD: permanent kidney failure requiring dialysis or transplant)
Medicare doesn’t cover everything. You generally have to pay deductibles, coinsurance and copayments unless you have other insurance to cover the costs.
Is managed by the federal government to help pay for care in a hospital and skilled nursing facility, home health care and hospice care – usually for no premium
Is managed by the federal government to help pay for doctors, outpatient hospital care and other medical services – usually for a monthly premium.
The standard premium for 2019 is $135.50. Others may pay a little less because of lack of increases (COLA) to Social Security Income.
Medicare Advantage Plans
Are offered by private insurance companies who contract with the federal government to cover the same or more benefits than Original Medicare (Parts A & B).
Medicare Advantage Plans may offer extra coverage such as Vision, Hearing, Dental and Wellness programs.
Most Medicare Advantage Plans include Prescription Drug coverage (MAPD)
Prescription Drug Coverage
Is offered by private insurance companies who contract with the federal government to help cover prescription drug costs.
This coverage is available as a stand-alone prescription drug plan (PDP) or as part of a Medicare Advantage Plan (MAPD)