Medicare & More
Medicare is government-provided health insurance for seniors who are over 65.
Medicare Part A
Part A of Original Medicare provides coverage for inpatient services. It covers:
- Inpatient hospital care
- Skilled nursing facility care
- Nursing home care that is not long-term
- Hospice care
- Some home health care
Medicare Part B
Part B of Original Medicare provides coverage for medically necessary services and preventive services. It covers:
- Ambulance service
- Clinical research
- Durable medical equipment
- Services or supplies that are needed to diagnose or treat a condition
- Some mental health services
- Specialist visits
Medicare Part D
Each Part D plan covers a variety of prescription drugs. A plan’s list of covered drugs is called a formulary. In addition to the formulary, all Part D plans must cover certain protected classes of medication such as:
- HIV/AIDS treatments
- Immunosuppressant medications
Medicare Advantage Plans are Medicare-approved bundles offered by private companies. Advantage Plans usually include Parts A, B, and D.
Medicare Supplement Insurance (Medigap)
Medigap is insurance sold by private companies to supplement what is not covered by Original Medicare. Medigap can help pay for copays, deductibles, and coinsurance.
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