Medicare

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Medicare Insurance Plans

In 2015, Medicare provided health insurance for over 55 million—46 million people age 65 and older and 9 million younger people. On average, Medicare covers about half of the health care charges for those enrolled. The enrollees must then cover their remaining costs either with supplemental insurance, separate insurance, or out-of-pocket. Out-of-pocket costs can vary depending on the amount of health care a Medicare enrollee needs. They might include the costs of uncovered services—such as for long-term, dental, hearing, and vision care—and supplemental insurance premiums.

Medicare is a government sponsored medical insurance program in the United States. Medicare is further divided into parts A and B—Medicare Part A covers hospital and hospice services; Part B covers outpatient services. Part D covers self-administered prescription drugs. Part C is an alternative to the other parts intended to allow experimentation with differently structured plans in an effort to reduce costs to the government and allow patients to choose plans with more benefits.

Medicare Supplement

Medicare Supplement

A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles.

Medicare Advantage Plans

Medicare Advantage Plans

A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits.

Medicare Part D (Drug Coverage)

Medicare Part D (Drug Coverage)

To get Medicare drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.