What You Need to Know About Medicare Insurance for Seniors
Medicare insurance is an important part of any senior citizen’s healthcare. It provides coverage for hospital stays, doctor’s visits, and other medical services. If you are a senior citizen over the age of 65, it is important to understand how Medicare works and the different types of coverage that are available.
There are four main parts of Medicare: Part A, Part B, Part C, and Part D. Part A covers hospital stays and home health care services such as physical therapy or skilled nursing visits. Part B covers doctor’s visits, preventive care services such as vaccinations, laboratory tests, and medical equipment. Part C is also known as “Medicare Advantage” plans which allow seniors to purchase private insurance plans that offer broader coverage than traditional Medicare plans. Lastly, Part D covers prescription drugs.
When selecting a plan for yourself or your loved one, it is important to understand the difference between Original Medicare (Parts A & B) and Medicare Advantage Plans (Part C). Original Medicare requires you to pay deductibles and coinsurance when receiving services while with a Medicare Advantage Plan most costs will be included in your monthly premium payment. Additionally, some Advantage Plans include extra benefits not provided by Original Medicare such as vision or hearing coverage or dental care.
Once you have selected a plan it is important to review your plan on an annual basis in order to ensure that you have the best possible coverage for your needs. As laws change and insurance providers adjust their policies there may be new options available that better fit your budget or provide additional benefits that were not previously offered.
At age 65 all seniors become eligible for Original Medicare but it is important to understand the different types of coverage available so that you can select the best plan for yourself or your loved one. Additionally it is important to review your plan each year in order to make sure that you have adequate coverage at an affordable rate that meets your needs throughout retirement years. With a bit of research and understanding of how medicare works you will be well prepared to navigate the world of medicare insurance for seniors over 65!