What is Medicare?

Medicare is health insurance program funded by federal for people who are 65 or older, Certain younger people with disabilities or People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

Different types of Medicare

• Original Medicare

  • Medicare Part A[Hospital Insurance] - It covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. You are eligible if you or your spouse worked and paid Medicare taxes for at least 10 years.

  • Medicare Part B[Medical Insurance] - Most individuals who are eligible for Part A are also eligible for Part B, but Part B comes with a monthly premium. It covers :

    • Services from doctors and other health care providers • Outpatient care

    • Home health care

    • Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)

    • Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)

  • Medicare Part D[Prescription Drugs] - It helps cover the cost of prescription drugs (including many recommended shots or vaccines. You can enroll in a Medicare Part D prescription drug plan if you have either Medicare Part A or Part B.

• Medicare Advantage [Part C]

  • Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage. These “bundled” plans include Part A, Part B, and usually Part D.

Medicare 2024

Medicare Open Enrollment Period is October 15'2023 till December 7'2023 for Coverage effective January 1'2024.

Credits > www.medicare.gov ; www.humana.com