What Is Medicare
Individuals that are 65 or older, have certain disabilities (for those under 65) or have permanent kidney failure (aka End Stage Renal Disease) can usually obtain health insurance coverage through Medicare. It’s important to know the different parts of Medicare coverage, your Medicare rights and protections, and how to find the right plans to reduce your Medicare out of pocket costs.1
The Parts of Medicare Coverage
- Hospital insurance (Medicare Part A) helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care and hospice care.
- Medical insurance (Medicare Part B) assists in paying for services provided by doctors and many other medical services and supplies that are not covered by hospital insurance.
- Medicare Advantage (Medicare Part C) plans are available in many areas. People with Medicare Parts A and B can choose to receive their health care services through private health plans under Part C.
- Prescription drug coverage (Medicare Part D) helps pay for medications prescribed by your doctor.
- Medicare Supplement Insurance (also known as Medigap Insurance) is often purchased by people who remain in original Medicare parts A and B without enrolling in a Medicare Advantage plan in order to fill in coverage gaps in original Medicare.2
How HealthPocket can help
With many Medicare Plan Options available, it can be difficult to find the right health plan for your medical needs. Whether you’re looking for a Medicare Advantage or Medicare Part D, HealthPocket’s free plan comparison tool and medication cost estimator helps you find the right plan to minimize your out of pocket Medicare costs.