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Medicare Tips & Tools
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What is Medicare?
Medicare is a federal health insurance program for people 65 and older and certain younger people with disabilities and people with End-Stage Renal Disease (ESRD).
Medicare Parts: 4+
Parts A and B are considered Original Medicare. Part A is free and Part B has a monthly premium ($104.90 in 2013) which is either deducted from your Social Security check or paid quarterly if not collecting Social Security.
Part A covers hospital benefits and Part B covers physician services, inpatient and outpatient medical and surgical services and supplies, physical and speech therapy, diagnostic tests and durable medical equipment.
|Official Name||Commonly Called||Cost /
|Part A||Original||Free||Hospital care|
|Part B||Original||Deducted from SSA check||Medically-necessary and/or preventive services|
|Part C||Advantage||Commercially available||Parts A & B provided by a private insurer|
|Part D||Prescription Drugs||Optional extra with Part C||Prescription drugs|
|Supplement||Medigap||Commercially available||Uncovered expenses, e.g., copayments, coinsurance, and deductibles|