Medicare is a U.S. national health insurance program for Americans who are 65 and older and people with disabilities. It is an extensive program, and many people are confused by what it offers and what is covered. If you have questions, below is a thorough introduction to the subject.

A Beginner's Guide to Medicare Insurance

What Are the Parts of Medicare?

Original Medicare is comprised of three different coverage parts: Part A, Part B, and Part D. Part A includes hospital insurance, which covers inpatient care, skilled nursing facility care, hospice, and home health care. Part B covers medical insurance, which includes doctor visits, outpatient care, and durable medical equipment—e.g. beds, wheelchairs, walkers, etc. Part D includes coverage that pays for prescription drugs.

What Options Are There?

Your two main options are 1) Original Medicare and 2) Medicare Advantage. The first covers hospital and medical insurance, as previously discussed. You may also include an optional prescription drug benefit. Additionally, you can buy supplemental coverage to help you pay for out-of-pocket costs. Medicare Advantage—also known as Part C—bundles Parts A, B, and D together. With Medicare Advantage, you may have lower out-of-pocket costs and receive additional benefits, such as hearing and vision coverage, but you are limited to certain doctors within the network. With Original Medicare, you can see any provider who accepts Medicare insurance. 

How Do You Sign Up for Medicare?

People receiving Social Security disability or retirement or railroad retirement board (RRB) benefits receive Medicare automatically. However, if you are approaching retirement age, contact Social Security three months before your 65th birthday to enroll. If you don't sign up when you first are eligible, you may experience a delay when signing up later, and you may have to pay a late-enrollment penalty. 

For expert assistance designing a Medicare insurance plan, contact Robert Rung Insurance in Lincoln, NE. Robert is a Medicare insurance advisor and GuideOne Insurance Agent. He and his team have served clients throughout Lancaster County since founding the agency in 1973. They specialize in property, disability, life, and homeowners insurance. Visit their website to message them online or call (402) 483-2279 or (402) 450-1564 to request a quote.