What is Medicare?

In general, Medicare is a federal health insurance program for people age 65 or older (with some exceptions). All US Citizens and legal residents are eligible based on the contributions made through their working career to US Social Security. It is intended to provide basic hospital and medical insurance, but it does not cover everything and has notable exceptions of some medical treatments, prescription drugs, and healthy living care like regular eye, dental, and hearing coverage.

Keys to Understanding Medicare

To make your best choice of coverage, it is important to understand the main components of Medicare. As shown below, it is broken into Part A through D. At a high level, it will cover your hospital and medical needs, but many find it advantageous to secure additional coverage, including healthy living services and prescription drugs. Understanding your choices, benefits, and costs are your key to selecting what is best for you and it is recommended that you review annually or if you have a significant health event. Remember, it is always your choice and you should select the plan that best meets your needs, lifestyle, and financial goals.

Part A

Hospital and medical facility care available to all who qualify.

Part B

Physician and medical diagnostics. A premium may apply based on ability to pay.

Part C

Medigap and Medicare Advantage offered through private insurers that "fills" coverage gaps and provides additional coverage and benefits.

Part D

Prescription drug coverage