What is Medicare

Changing to Medicare could be a complicated time for seniors who are used to individual insurance. General the variations are rather small. To get a real understanding of things Medicare you need to know the different components.

Parts of Medicare

There are three Parts to traditional Medicare; Part A, Part D and Part B (Part H is just a completely different plan that does not come under traditional Medicare and is named Medicare Advantage). Medicare Part A deals only with insurance for when you need a hospital. If you are accepted in to the hospital by a doctor then Medicare Part A starts to grab the bill. For a lot of people there's no monthly fee for Medicare Part A. Part A has a deductible of $1,156 and coinsurance for many services like skilled nursing care.

Medicare Part B deals only with hospital treatment and Doctor visits. Therefore if you are moving in for a well patient checkup or if you need a minimal procedure like therapy for a ankle Part B can help with picking up the loss. Unlike Medicare Part A Medicare Part B includes a regular premium. This quality changes from year to year but happens to be $99.90. There is also a deductible of $140 and continuous coinsurance of 20% of the expenses.

Medicare Part D is made to greatly help people with the costs of prescription medications. Each plan is extremely different because you will have to get a Part D plan that matches up with the prescribed drugs that you are getting. The rates also vary greatly from plan to plan because the programs vary so much. I can tell you the cheapest plan I've seen is $15 each month but it's a base plan, so it may possibly not be the plan for you if you've a top valued medication, see article source.

As you is able to see Medicare is not super complicated you just have to break it down into different components.