Original Medicare
As an overview, Medicare consists of four parts. Part A is the hospital coverage. Part B is the medical coverage. Part C (also known as Medicare Advantage), consists of medical plans that are administered by private insurance companies. Part D is prescription drug coverage also administered by private insurance companies. The default way to get Medicare is what is referred to as “Original Medicare”, this consists of part A (hospital) and part B (medical). If you want supplemental or prescription drug coverage, you can add both of these. View a short video on the basics of Medicare now:
PART A HOSPITAL:
Helps cover inpatient hospital stays, skilled nursing facilities, as well as inpatient mental health and home health care. If you or your spouse paid enough Medicare taxes while working there is no premium. Here is a chart that shows what original Medicare pays and what is left unpaid by the Medicare enrollee. After examining this chart, you can see why people that use Original Medicare want to carry additional insurance. Medicare Supplement
policies (also known as “Medigap policies) will help cover the balances that Medicare leaves behind.
Helps cover inpatient hospital stays, skilled nursing facilities, as well as inpatient mental health and home health care. If you or your spouse paid enough Medicare taxes while working there is no premium. Here is a chart that shows what original Medicare pays and what is left unpaid by the Medicare enrollee. After examining this chart, you can see why people that use Original Medicare want to carry additional insurance. Medicare Supplement
policies (also known as “Medigap policies) will help cover the balances that Medicare leaves behind.
Part B Medicare:
Covers outpatient services. This is broadest category of services because it encompasses a vast array of items. Most everything you do outside of the hospital is covered under part B. Everything from a plane Jane doctor visit to outpatient surgery, tests, and treatments, even medical equipment like wheelchairs and power scooters. In general you pay an annual deductible, then Medicare pays 80% (of the approved amount) and you pay the other 20%. Again supplemental insurance can help cover your responsibility.
Covers outpatient services. This is broadest category of services because it encompasses a vast array of items. Most everything you do outside of the hospital is covered under part B. Everything from a plane Jane doctor visit to outpatient surgery, tests, and treatments, even medical equipment like wheelchairs and power scooters. In general you pay an annual deductible, then Medicare pays 80% (of the approved amount) and you pay the other 20%. Again supplemental insurance can help cover your responsibility.
Now that you understand more about Original Medicare find out how to fill the gaps left over with a Medigap policy. Click on the link below to learn about Medigap policies or to get a quote on a Medigap policy.