Medicare refers to the health insurance program which can cover for different expenses related to healthcare. This program is implemented by the Centers for Medicare & Medicaid Services, which is a part of the Department of Health & Human Services of the United States. The people who serve as beneficiaries in this program are usually those which are 65 years old and above. Additionally, people with certain medical conditions or disabilities that are permanent may also be considered as beneficiaries of Medicare.
Just like the Social Security, this is also an entitlement program. The majority of the citizens of the United States can enroll in this program just by working and paying taxes religiously within a certain period of time. For people who are not entitled to the benefits of Medicare because they weren’t able to work and pay the taxes within the minimum period, it is still possible for them to be eligible to enroll. However, these people are required to pay more.
The Medicare program is mainly composed of four distinct parts. The Medicare Part A and Medicare Part B are regarded as the Original Medicare, while the Medicare Part C is referred to as Medicare Advantage. The Part C refers to a health insurance that is private, while the Medicare Part D covers the prescription drugs.
Part A of Medicare is basically the hospital insurance. The coverage of this part includes the inpatient hospital care, hospice care, and limited time in nursing care and home healthcare services. On the other hand, the Part B refers to medical insurance, which involves expenses such as blood tests, diabetic screenings, visits in the doctor’s office, outpatient hospital care, and X-rays.
The Medicare Advantage (Part C) is an optional part provided by private insurance companies to incorporate all kinds of Medicare coverage in a single health insurance plan. Just like Medicare Advantage, Part D is also optional. It is normally offered by private insurance companies as a separate plan and the fees to be paid monthly vary.