- Medicare provides health insurance coverage to 65 million adults in the U.S.
- Medicare is divided into sections: Part A, Part B, Part D, and Medigap plans
- Part A covers hospital care, hospice care, and some skilled nursing care
- Part B covers doctors, outpatient services, diagnostic tests, and more
- Part D covers prescription drugs
- Medicare does not cover long-term care, eye exams, dentures, cosmetic surgery, and more
- Medigap plans fill in the gaps in Medicare coverage
- Medicare Advantage is offered by private insurance companies and provides additional coverage
- Medicare Advantage has limited doctor choices and caps annual out-of-pocket costs
- Choosing a Medicare plan based on recommendations or celebrity endorsements is a mistake
- Review Medicare Advantage or drug coverage yearly for changes
- Use independent advisers or State Health Insurance Assistance Programs for guidance
- There are many Medicare Advantage plans to choose from
Medicare is a health insurance program that covers 65 million adults in the U.S. It is divided into sections: Part A, Part B, Part D, and Medigap plans. Part A covers hospital care, hospice care, and some skilled nursing care. Part B covers doctors, outpatient services, diagnostic tests, and more. Part D covers prescription drugs. However, Medicare does not cover long-term care, eye exams, dentures, cosmetic surgery, and other services. Medigap plans can fill in the gaps in Medicare coverage. Medicare Advantage, offered by private insurance companies, provides additional coverage but has limited doctor choices and caps annual out-of-pocket costs. It is important to review Medicare Advantage or drug coverage yearly for any changes. It is also advised to seek guidance from independent advisers or State Health Insurance Assistance Programs. There are many Medicare Advantage plans to choose from, so it is important to be careful and not rely solely on recommendations or celebrity endorsements.
