Understanding Medicare Coverage: What Do I Need to Know?
Medicare is a government-funded insurance program that you can enroll in through the Social Security office once you become eligible. But understanding the coverage options can sometimes be confusing. Here is an overview of Medicare and the difference between its two main parts, Part A and Part B.
Medicare Part A
Part A is hospitalization coverage. This option is usually premium-free if you or your spouse have met the working qualifications. Part A helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care. On average, Medicare Part A covers about 80% of the costs associated with the above.
Medicare Part B
Part B is the “outpatient” coverage. The option does come at a cost to the insured. Part B helps cover services from doctors, other healthcare providers, outpatient care, home health care and durable medical equipment. If often includes many preventative services as well, such as screenings and vaccines.
Do I Need Both Medicare Part A and B?
If you are currently employed and have an employer’s group health insurance plan, chances are you may not need both parts of Medicare. However, if you do not have group coverage, enrolling in both Part A and Part B will provide you with essential health insurance benefits. Additionally, if you are interested in Medicare Advantage or a Medicare Supplement, enrollment in both parts is mandatory.
For more information contact the Beck / Frost Insurance Agency. Call us at 419-446-2777, send an email to help@beckinsurance.com, or click here to submit your request today! You can also stop by and see us at one of our four convenient locations in Archbold, Napoleon, Holgate, or Whitehouse.
We do not offer every plan available in your area. Currently, we represent 10 organizations that offer 6,584 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
