What is Medicare?
Medicare is health insurance for the following:
- People 65 or older
- People under 65 years old with certain disabilities
- People of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant)
Parts of Medicare
Different parts of Medicare help cover specific services:
Medicare Part A (Hospital Insurance)
- Helps cover inpatient care in hospitals
- Helps cover skilled nursing facility, hospice, and home health care
Medicare Part B (Medical Insurance)
- Helps cover doctors’ and other health care providers’ services, outpatient care, durable medical equipment, and home health care
- Helps cover some preventive services to help maintain your health and to keep certain illnesses from getting worse
Medicare Prescription Drug Coverage
- Helps cover the cost of prescription drugs
- May help lower your prescription drug costs and help protect against higher costs in the future
- Run by Medicare-approved private insurance companies
Here is the Handbook describing what Medicare covers:
http://www.medicare.gov/Publications/Pubs/pdf/10116.pdf
Source: www.medicare.gov
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This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation